ASM Technologies Limited has issued a corrigendum to the notice convening its Extra-Ordinary General Meeting (EGM) scheduled for October 4, 2026. The revision addresses clarifications required by the BSE regarding the company's proposed preferential issue of equity shares valued at up to ₹525.99 crore.

The original notice, circulated on September 11, 2026, sought shareholder approval for issuing 10,78,974 equity shares to Qualified Institutional Buyers (QIBs) and Non-QIB investors in the non-promoter category. The corrigendum, dispatched electronically on September 25, 2026, substitutes the "Objects of the Preferential Issue" section in the explanatory statement to provide greater specificity on fund deployment.

Clarifications on fund utilization

The BSE advised the company to provide additional information under Regulation 28(1) of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Consequently, the amended notice details how the net proceeds will be allocated across organic growth, inorganic expansion, debt repayment, and working capital needs.

What the numbers show

The allocation strategy reveals a dual focus on immediate infrastructure scaling and long-term strategic consolidation. Capital expenditure for organic growth constitutes the largest single tranche at approximately ₹190.24 crore, representing roughly 36% of the total raise. This is closely followed by funding for inorganic growth at ₹120.15 crore, indicating a significant portion of capital is earmarked for potential acquisitions or investments in subsidiaries and associate companies. Notably, general corporate purposes account for ₹131.49 crore, which is within the 25% limit permitted by BSE circulars. The remaining funds are split between debt reduction (₹34.04 crore) and working capital (₹50.06 crore), suggesting a balanced approach to strengthening the balance sheet while pursuing expansion.

ASM Technologies has scheduled an extraordinary general meeting (EGM) for October 4, 2026, to seek shareholder approval for a ₹525.99 crore preferential allotment. The issuance is priced at ₹4,875 per equity share.

The company published the EGM notice on September 12, 2026, in Financial Express and Hosadigantha. The meeting will be conducted via video conferencing or other audio-visual means (VC/OAVM) starting at 10:00 am. Shareholders holding shares as of the cut-off date, Friday, September 25, 2026, are eligible to vote.

E-Voting Details

Remote e-voting will commence on Wednesday, September 30, 2026, at 9:00 am and conclude on Saturday, October 3, 2026, at 5:00 pm. The facility is provided by K-Fin Technologies Limited. Members who have not registered their email addresses are requested to do so with their Depository Participants or the Registrar and Share Transfer Agent.

Investor Details

SBI Mutual Fund through its various schemes leads the investment with an allocation of ₹401 crore for 8,22,564 shares. Other investors include SBI Emergent India Fund, Derive Trading and Resorts Private Limited, and Asha Mukul Agrawal.

Post-Issue Shareholding

Post-allotment, SBI Mutual Fund will hold a 5.25% stake in the company. SBI Emergent India Fund and Derive Trading will each hold 0.65%, while Asha Mukul Agrawal will hold 0.33%. Promoter holding will decrease from 57.51% to 53.55%.

Use of Proceeds

The company plans to utilize the net proceeds for capital expenditure towards organic growth and expansion (₹190.24 crore), inorganic growth including strategic acquisitions (₹120.15 crore), debt repayment (₹34.04 crore), and working capital requirements (₹50.06 crore). General corporate purposes will account for ₹131.50 crore, which does not exceed 25% of the gross funds raised.

Regulatory Compliance

The trading window for designated persons closed on September 6, 2026, and remains closed until 48 hours after the outcome announcement. The proposal aligns with SEBI (ICDR) Regulations, 2018, and the Companies Act, 2013. CARE Ratings Limited has been appointed as the monitoring agency for the utilization of proceeds.