Apollo Ingredients Limited has scheduled an Extraordinary General Meeting (EGM) for March 30, 2026 at 4:00 PM IST through video conferencing to address critical matters related to its rights issue proceeds. The company issued a corrigendum on March 18, 2026, correcting an inadvertent typographical error in the original notice that mistakenly mentioned the EGM date as March 30, 2025 instead of the correct date of March 30, 2026.

Rights Issue Proceeds and Original Allocation

The company raised ₹5.00 crore through a rights issue of fully paid-up equity shares in accordance with the Final Letter of Offer dated July 07, 2025. The original allocation of proceeds was structured across three key areas:

Proposed Reallocation and Deviation Ratification

The primary agenda for the EGM involves approving the reallocation of rights issue proceeds and ratifying deviations from the original utilization plan. The company utilized ₹3.00 crore from the rights issue proceeds for lease payments for land and building for 10 years from a related party, which was not originally disclosed in the objects of the issue.

The company seeks shareholder approval to reallocate the unutilized amount of ₹0.02 crore from issue expenses to working capital requirements. Additionally, ratification is required for the ₹3.00 crore deviation utilized for lease payments, as this constitutes a departure from the original objects disclosed in the Final Letter of Offer.

Meeting Logistics and Voting Arrangements

The EGM will be conducted through video conferencing in compliance with Ministry of Corporate Affairs circulars and SEBI regulations. The register of members and share transfer books will remain closed from March 23, 2026 to March 30, 2026 (both days inclusive).

Remote e-voting will be available for shareholders from March 27, 2026 at 9:00 AM IST to March 29, 2026 at 5:00 PM IST. Shareholders can participate through the InstaVote platform provided by MUFG Intime India Private Limited. The company has appointed Ravi Patidar and Associates, Practicing Company Secretaries (Membership No. 55749) as the scrutinizer for the e-voting process.

Regulatory Compliance and Approvals

The Board of Directors approved the reallocation proposal at its meeting held on March 05, 2026. The company notes that approval for the related party transaction involving the lease payments was previously obtained at the 45th Annual General Meeting held on September 27, 2025. However, specific approval under Section 27 of the Companies Act, 2013 and Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is required for ratifying the deviation in rights issue proceeds utilization.

The Board and Audit Committee have reviewed the deviation and variation in utilization, determining that such use of funds aligns with the company's business exigencies and strategic operational requirements, serving the best interests of the company and its stakeholders.

Apollo Ingredients Limited (formerly known as indsoya Limited) announced the outcomes of its board meeting held on March 5, 2026, at the company's registered office. The meeting, which commenced at 04:00 P.M. and concluded at 05:00 P.M., addressed several important corporate matters requiring shareholder approval and operational decisions.

Extraordinary General Meeting Approval

The board considered and approved the draft notice for an Extraordinary General Meeting (EGM) of company members. The EGM has been scheduled to address ratification of deviation in right issue proceeds utilization and other specified matters in accordance with the Companies Act, 2013 and SEBI regulations.

Scrutinizer Appointment and Corporate Decisions

The board approved the appointment of M/s Ravi Patidar and Associates, Practicing Company Secretaries (Membership No. 55749), as scrutinizer for conducting the remote e-voting process during the EGM. This appointment ensures fair and transparent voting procedures in compliance with statutory requirements.

Additionally, the board finalized the company's official letterhead and logo design, which will be used for all official, statutory, and corporate communications going forward.

Right Issue Proceeds Reallocation

A significant financial decision involved the reallocation of unutilized right issue proceeds. The board approved transferring Rs. 2,00,000 originally allocated for issue expenses to the company's working capital requirements.

The meeting outcomes were communicated to BSE Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with Company Secretary and Compliance Officer Ayushi Agrawal (Membership No. A54489) signing the disclosure on March 5, 2026.