Emrock Corporation approves capital hike and warrant issue

Emrock Corporation shareholders have approved the increase in the company's authorised share capital and the issuance of up to 14,84,000 share warrants convertible into equity shares within 18 months. The resolutions were passed during the 1st Extra-Ordinary General Meeting (EGM) for the financial year 2026-27 held on June 27, 2026, via video conferencing. The approvals enable the company to alter its capital clause and raise funds from identified promoters and non-promoters, bolstering its capital base.

The meeting, chaired by Mr. Parth Patel, Whole Time Director & CFO, was conducted in compliance with the Ministry of Corporate Affairs and Securities and Exchange Board of India (SEBI) regulations. Mrs. Rekha Sejpal, Practicing Company Secretary, served as the Scrutinizer for the remote e-voting and e-voting processes conducted via the NSDL platform. The record date for determining shareholder eligibility was June 20, 2026.

Voting Results

Shareholders voted on two key resolutions concerning capital restructuring. The results, declared on June 29, 2026, showed strong support for the management's proposals.

Sr. No.	Resolution Description	Type	Votes In Favour	Votes Against	% of Votes In Favour
1	Increase in authorised share capital and alteration of capital clause	Ordinary	1,41,89,885	40	99.9997%
2	Issue of up to 14,84,000 share warrants convertible into equity shares	Special	1,41,89,885	40	99.9997%

Meeting Details

A total of 24 members attended the meeting through video conferencing, including 3 from the promoter group and 21 from the public. The remote e-voting facility was open from June 24, 2026, to June 26, 2026. The total number of votes polled was 1,41,89,925, representing approximately 89.70% of the total outstanding shares. The outcomes and the Consolidated Scrutinizer's Report have been submitted to the stock exchanges and are available on the company's website.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.16%	-7.95%	-11.17%	+15.69%	+878.73%	+2,222.43%

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.

Nature of Utilisation	Amount (₹ Crore)	Timeline
Solar Projects	26.40	Within 6 Months
Bio-CNG projects in subsidiary	4.00	Within 6 Months
Hospitality Project in LLP	10.00	Within 6 Months
Working Capital requirements	1.13	Within 6 Months
General Corporate Purposes	1.50	Within 6 Months
Total	43.03

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.

Category of Shareholders	Pre-issue Shares	Pre-issue %	Post-Allotment Shares	Post-Allotment %
Promoter & Promoter Group	1,18,05,975	74.63	1,23,05,975	71.12
Public Shareholders	40,14,025	25.37	49,98,028	28.88
Total	1,58,20,000	100.00	1,73,04,000	100.00

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.