Emrock Corporation convened its 1st Extra-Ordinary General Meeting (EGM) for the financial year 2026-27 on June 27, 2026, through video conferencing. The meeting was chaired by Mr. Parth Patel, Whole Time Director & CFO, and was held in compliance with the relevant circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India (SEBI). A total of 24 members attended the meeting, constituting the requisite quorum.

The primary agenda of the EGM focused on capital restructuring and fundraising instruments. Shareholders considered two key resolutions aimed at bolstering the company's capital base and facilitating investment from identified stakeholders.

Resolutions Passed

The members approved the following business items during the meeting:

The approval for the issue of warrants allows the company to raise funds by issuing up to 14,84,000 instruments. These warrants are convertible into or exchangeable for one equity share each within a period of 18 months, providing a timeline for conversion into equity capital.

Meeting Proceedings

Mrs. Rekha Sejpal, Practicing Company Secretary, was appointed as the Scrutinizer to oversee the remote e-voting process and the e-voting conducted during the meeting. The e-voting facility was provided via the NSDL platform. The Chairman informed the members that the results of the remote e-voting and the e-voting done at the meeting would be declared within two working days from the conclusion of the EGM.

The meeting concluded at 2:53 P.M. following a vote of thanks. The outcomes, along with the Consolidated Scrutinizer's Report, will be submitted to the Stock Exchanges and displayed on the company's website.

Emrock Corporation Limited issued a corrigendum to its notice for the 1st Extraordinary General Meeting (EGM) scheduled for June 27, 2026, to amend the resolution regarding the preferential allotment of share warrants. The company removed the name of Lattaben Patel from the list of proposed allottees to ensure compliance with Regulation 159 of the SEBI (ICDR) Regulations, 2018. The meeting will be held through video conferencing.

The company seeks approval to issue up to 14,84,000 share warrants on a preferential basis to identified promoters and non-promoters. Each warrant, convertible into one equity share with a face value of ₹10, is priced at ₹290, including a premium of ₹280. The total issue size aggregates to ₹43,03,60,000. The proceeds are intended to finance capital expenditure for solar and bio-CNG projects, hospitality ventures, and meet working capital requirements.

The upfront payment required is 25% of the warrant issue price, amounting to ₹72.50 per warrant, with the balance due upon conversion within 18 months. The pricing was determined based on a valuation report by independent valuer CS Abhishek Chhajed, which valued the equity shares at ₹289.44, rounded up to ₹290. The relevant date for pricing is May 27, 2026.

Utilization of Proceeds

The company has outlined the deployment of funds raised through the issuance of warrants. The allocation focuses on expanding operations in renewable energy, hospitality, and construction sectors.

Shareholding Pattern

The preferential issue will alter the company's shareholding pattern. Post-allotment, the promoter group's holding is expected to adjust to 71.12%, while public shareholding will increase to 28.88%, assuming full conversion of the warrants.

The corrigendum confirms that all other terms and conditions of the original EGM notice remain unchanged. The Board of Directors recommends the resolution for approval by the members.