Aanchal Ispat Limited has published the notice for its Extraordinary General Meeting (EGM) scheduled on July 23, 2026, in newspapers. The publication appeared on June 30, 2026, in the Financial Express (English Edition) and Ek Din (Bengali Edition). The meeting seeks shareholder approval for the preferential allotment of 10,55,000 fully convertible warrants to promoter Mukesh Goel to raise ₹8.65 crore. The proceeds will be used to meet payment obligations under the NCLT-approved Resolution Plan.

The board approved the proposal on June 23, 2026. The issue price of ₹82 per warrant includes a face value of ₹10 and a premium of ₹72. Funds will be utilized to settle dues of secured financial creditors aggregating up to ₹852.92 lakh and to bear issue expenses of up to ₹12.18 lakh. The company confirmed that no portion of the net proceeds will be used for general corporate purposes.

Key Details of the Preferential Issue

The e-voting period commences on July 20, 2026, and concludes on July 22, 2026, with the record date set as July 16, 2026. The Register of Members and Share Transfer Books will remain closed from July 17, 2026, to July 23, 2026. Manisha Saraf & Associates, Practicing Company Secretary, has been appointed as the scrutinizer for the e-voting process.

Upon full conversion of the warrants, the shareholding of Mukesh Goel is expected to increase from 50.20% to 60.13%, resulting in 31,79,998 shares. The board has also proposed alterations to the Articles of Association by inserting a new Article 14(3) to authorize the issue of convertible securities. M/s ValuGenius Advisors LLP certified a fair value of ₹31 per equity share.

Aanchal Ispat Limited has closed its trading window for insiders effective June 16, 2026, to ensure compliance ahead of a board meeting scheduled for June 23, 2026. The window will remain shut until 48 hours after the company declares the outcome of the board meeting to the stock exchanges. The board will evaluate a proposal to raise funds through various instruments, including equity shares and Qualified Institutions Placements (QIP).

The fund-raising options under consideration include issuing equity shares, equity-linked instruments, convertible preference shares, and warrants. The company may conduct the fund-raising via private placement, QIP, further public issue, rights issue, or a combination of these methods, subject to necessary approvals. This move is part of the company's strategy to secure capital for future operations.

The trading window closure applies to Directors, Key Managerial Persons, and designated persons of the company. This measure is in accordance with the Company's Code of Conduct framed pursuant to the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 and Circular No. LIST/COMP/01/2019-20 dated April 02, 2019.

The board meeting is convened under Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Any approval granted by the board will be subject to shareholder consent at general meetings and other statutory or regulatory approvals as applicable.

Meeting Details