Hi-Tech Pipes corrects warrant allottee shareholding data

Hi-Tech Pipes has corrected a clerical error in the explanatory statement of its postal ballot notice regarding the preferential issuance of 90,00,000 fully convertible equity warrants to promoter group persons. The company clarified that the percentage of post-issue offer capital for proposed allottees Aks Buildcon Private Limited and Hi-tech Agrovision Private Limited was inadvertently interchanged in the notice dated May 28, 2026.

The preferential issue of 90,00,000 warrants was approved by shareholders through a remote e-voting process that concluded on June 28, 2026. The special resolution received 84.26% of the total valid votes in favour, with 97,501,116 votes supporting the resolution against 18,219,754 votes opposing it. The voting results were scrutinized by M/s. NSP & Associates.

Corrected Allotment Details

The company has provided the revised breakdown of the warrant allocation and the corrected percentage of post-issue offer capital for each allottee. The total issue size remains unchanged at 90,00,000 warrants.

Name of the Proposed Allottee(s)	No. of Fully Convertible Warrants	% of the post issue offer capital
Mr. Vipul Bansal	20,00,000	0.94
Aks Buildcon Private Limited	40,00,000	1.89
Hi-tech Agrovision Private Limited	30,00,000	1.41

The company confirmed that the post-preferential holding calculations assuming full conversion, detailed in point Q of the explanatory statement, were accurate and remain unchanged. The calculations indicate that Aks Buildcon Private Limited will hold 5.90% of the post-preferential capital, while Hi-tech Agrovision Private Limited will hold 5.26%.

Names	Pre-preferential holding (%)	Present issue of Fully Convertible Warrants	Post-preferential holding (%) (assuming full conversion)
AKS Buildcon Pvt. Ltd.	4.19	40,00,000	5.90
Hitech Agrovision Pvt. Ltd.	4.02	30,00,000	5.26

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-5.44%	-3.70%	-0.41%	-7.05%	-12.57%	+77.85%

Hi-Tech Pipes Limited has issued a corrigendum to its Notice of Postal Ballot dated May 28, 2026, revising the shareholding pattern and clarifying the utilization of proceeds for a proposed preferential issue. The company specified that funds raised through the preferential offer will be used for working capital requirements and general corporate purposes, with proceeds expected to be utilized on or before March 31, 2028.

The pre-issue shareholding pattern has been updated from March 31, 2026, to May 22, 2026. The table below details the shareholding structure before and after the proposed preferential issue to the Promoter Group category, assuming the conversion of convertible warrants into equity shares.

Category	Pre-Issue No. of Shares	Pre-Issue %	Post-Issue No. of Shares	Post-Issue %
Promoter and Promoter Group
Indian - Individual	66462817	32.72	68462817	32.28
Indian - Others HUF	5734952	2.82	5734952	2.70
Indian - Bodies Corporate	16680000	8.21	23680000	11.17
Sub Total (A)(1)	88877769	43.75	97877769	46.15
Total Promoter & Promoter Group	88877769	43.75	97877769	46.15
Institutions
Institutional Investors Domestic	32163859	15.84	32163859	15.16
Institutional Investors Foreign	2139612	1.05	2139612	1.01
Sub Total (B)(1)	34303471	16.89	34303471	16.17
Non-institutions
Individuals	58757424	28.93	58757424	27.70
Bodies Corporate	13741140	6.77	13741140	6.48
HUF	2853687	1.41	2853687	1.35
Other	4574243	2.25	4574243	2.16
Sub Total (B)(2)	79926494	39.36	79926494	37.69
Total Public Shareholding (B)	114229965	56.25	114229965	53.86
Total (A+B)	203107734	100	212107734	100

The corrigendum was published in newspapers on June 09, 2026, and is available on the websites of the NSE, BSE, and the company. All other contents of the original notice remain unchanged.