AMIC Forging Ltd has provided clarification to BSE Limited regarding the delay in disclosing the resignation of its Chief Financial Officer, Mr. Priyankar Ghosh, which was effective from April 1, 2026. The company explained that the disclosure delay was due to internal governance requirements necessitating formal board approval.

Resignation Details

Mr. Priyankar Ghosh tendered his resignation from the position of Chief Financial Officer and Key Managerial Personnel effective April 1, 2026, citing personal reasons. The resignation was formally communicated through regulatory filings under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Disclosure Delay Explanation

In response to BSE's inquiry dated April 8, 2026, regarding the delay in informing the exchange within 24 hours of the resignation's effective date, AMIC Forging provided detailed clarification. The company explained that while the resignation was effective from April 1, 2026, internal governance requirements mandated formal noting and approval by the Board of Directors.

The approval of the resignation was obtained through a resolution passed by circulation on April 7, 2026. Company Secretary Neha Fatehpuria confirmed that the company proceeded with the disclosure only upon completion of the approval process, which caused the delay beyond the standard 24-hour requirement.

Regulatory Compliance

The resignation letter dated March 31, 2026, was addressed to the Managing Director, with Mr. Ghosh confirming that there are no material reasons for his resignation other than personal circumstances. He requested the company to file the necessary notice with the Registrar of Companies and intimate stock exchanges as per regulatory framework.

Company Status

AMIC Forging Ltd confirmed that it is currently in the process of appointing a suitable candidate for the CFO and Key Managerial Personnel position. The appointment details will be communicated to stock exchanges in due course, in accordance with applicable regulations. The disclosure was made in adherence to Regulation 30 read with SEBI master circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Amic Forging Limited has successfully completed both equity share allotment and convertible warrant issuance on a preferential basis, following board meetings held on December 23 and December 27, 2025. The company raised ₹40.00 crore through equity shares and an additional ₹9.98 crore through convertible warrants.

Equity Share Allotment Completed

The Board of Directors approved the allotment of 2,60,425 fully paid-up equity shares at ₹1,536 per share, raising ₹40.00 crore from 27 non-promoter investors. This allotment was conducted pursuant to the shareholders' resolution dated November 5, 2025, and the in-principle approval received from BSE Limited on December 12, 2025.

Convertible Warrants Allotment Completed

Following the equity share allotment, the company's board meeting on December 27, 2025, approved and completed the allotment of 65,000 convertible warrants at ₹1,536 each, with a total issue size of ₹9.98 crore. The company has received 25% of the warrant issue price upfront, amounting to ₹2.50 crore from the allottees.

Warrant Allottee Distribution

The convertible warrants were successfully allocated to two investors, with the promoter receiving the majority allocation:

Impact on Share Capital Structure

The equity share allotment has increased the company's paid-up equity share capital from ₹10.49 crore to ₹10.75 crore. Upon full conversion of the warrants, the share capital will further increase by ₹0.65 crore.

Regulatory Compliance and Lock-in Provisions

Both the newly allotted equity shares and convertible warrants will be subject to lock-in provisions as specified under Chapter V of the SEBI (ICDR) Regulations, 2018. The warrants are convertible into fully paid-up equity shares within 18 months from the allotment date, upon payment of the remaining 75% of the warrant issue price.

Fund Utilization Strategy

The combined fundraising of ₹49.98 crore will be allocated toward capital expenditure (₹40.00 crore), working capital requirements (₹3.00 crore), and general corporate purposes (₹6.98 crore). The capital expenditure will focus on machinery purchase, shed construction, and land acquisition for new plant setup and expansion.