GP Petroleums Limited issued a corrigendum to its postal ballot notice dated September 30, 2026, correcting the conversion price and share count for optionally convertible debentures (OCDs). The revision adjusts the conversion price to ₹62.09 per equity share and the conversion ratio to 16,105 equity shares per OCD.

The company filed the corrigendum with stock exchanges on October 16, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The original notice had specified a conversion price of ₹62.27 and a conversion ratio of 16,059 equity shares. These amendments apply to Item No. 3 of the postal ballot notice regarding the preferential issue.

Key Amendments to Explanatory Statement

The corrigendum modifies specific points in the Explanatory Statement attached to the original postal ballot notice. The changes ensure that the pre- and post-issue shareholding pattern reflects the corrected financial parameters for the proposed allotment.

The company clarified that the OCDs are convertible in the ratio of 1:16,105 into fully paid-up equity shares at the pre-determined conversion price of ₹62.09. This price was determined with reference to the relevant date of October 1, 2026, which is 30 days prior to the shareholder meeting date, in accordance with SEBI ICDR Regulations.

Impact on Control and Voting

The corrigendum also amended Point No. 16 to clarify that the proposed issue and subsequent conversion of OCDs will not result in any change in control or management of the company. This conclusion is based on the fact that the percentage of post-preferential issue share capital that may be held by the proposed allottees is only 3.06%.

Consequently, Regulation 166A(1) of the SEBI ICDR Regulations, 2018, is not applicable to this issue, as it does not trigger a change in control or an allotment exceeding 5% of the post-issue fully diluted share capital.

Member Voting Instructions

Members who have already cast their votes in the ongoing postal ballot may modify their votes in light of these corrections. Modifications must be sent via email to the scrutinizer at fcsharshad@gmail.com , with a copy marked to evoting@nsdl.com , on or before 5:00 pm on Saturday, October 31, 2026. The remote e-voting facility remains open until October 31, 2026, at 5:00 pm.

GP Petroleums Ltd announced the resignation of Sukumaran Jeyakrishnan as Non-Executive Independent Director effective October 13, 2026. The departure was attributed to personal reasons and logistical challenges associated with coordinating board meetings while residing outside India.

Resignation Details

Jeyakrishnan ceased to be an Independent Director and a Member/Chairperson of the Nomination and Remuneration Committee and the Risk Management Committee on October 13, 2026. In his resignation letter addressed to Chairman Ayush Goel, he cited substantial time differences and practical difficulties in devoting adequate time to the role. He confirmed there were no other material reasons for his resignation beyond those stated.

Committee Reconstitution

To ensure compliance with the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board reconstituted the affected committees via circular resolution. The new compositions are as follows:

Nomination and Remuneration Committee

Risk Management Committee

The company confirmed that Jeyakrishnan does not hold directorships in any other listed entity. The reconstitution ensures continued adherence to statutory composition requirements for corporate governance bodies.