Announced Thu, 22 Oct, 2026 · 16:01 IST

EGM approves share and warrant issues and four related business deals

Board & Shareholder Meetings View source PDF Explain this filing

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₹1040.65

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Nifty Microcap 250market · in no size index; the smallest one is used-2.3%+0.3% vs market

2/3 Wheelers peers, median of 8sector-2.0%+0.0% vs sector

On the reaction day the stock moved 0.3 pts more than Nifty Microcap 250 and in line with its 2/3 Wheelers peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

All seven EGM resolutions passed on 20 October. Shareholders approved rule changes and two fund-raising issues: up to 9,73,00,000 shares at Rs85.30 each, about Rs829.97 crore, plus 9,96,000 warrants at Rs853 each, about Rs84.96 crore. Shares go to investors other than promoters; warrants go to promoters. Four related deals also passed. Support was 100% for the rule change and at least 99.94% for the rest.

Likely market impact

Equity and warrant issues may dilute holders but fund growth. Related-party approvals remain a governance risk despite near-unanimous support.