Hiliks Technologies held its 41st Annual General Meeting on September 25, 2026. The meeting was conducted via Video Conferencing and Other Audio Visual Means.

Shareholders approved the adoption of audited standalone and consolidated financial statements for the financial year ended March 31, 2026. The board also addressed director re-appointments and auditor changes during the session.

Resolutions Passed

The following ordinary and special resolutions were transacted at the meeting:

Meeting Proceedings

The Company Secretary welcomed shareholders and confirmed that the meeting complied with the Companies Act, 2013, and Ministry of Corporate Affairs circulars. Remote e-voting was available from September 22 to September 24, 2026, facilitated by CDSL.

Veera Venkata Ramana Varma Mudunuri, Chairman of the company, provided an overview of performance for FY26. He highlighted the strengthening presence in the Railway Signalling & Telecommunications sector. The Chairman noted future growth opportunities in railway signalling, telecom, Kavach, EPC, and digital infrastructure.

Governance Updates

The appointment of M/s Jain Alok & Associates as Secretarial Auditor marks a change in compliance oversight for a five-year term. The re-appointment of Sandeep Copparapu as Whole-Time Director required a special resolution, reflecting significant shareholder confidence in his continued leadership.

The meeting concluded with a vote of thanks from the Company Secretary and the Chairman. Shareholders who did not vote remotely had a 15-minute window to cast votes electronically after the AGM concluded.

Hiliks Technologies completed a preferential allotment of 23 lakh equity shares and 11.5 lakh convertible warrants on September 19, 2026. The company raised ₹16.56 crore from the immediate equity issuance, with a total potential consideration of ₹24.84 crore including the warrants.

The Board of Directors approved the allotment pursuant to a shareholder resolution dated August 1, 2026, and in-principle approvals from BSE Limited and Metropolitan Stock Exchange of India Ltd. (MSEI) received on September 4, 2026. The securities were issued at a price of ₹72 per share or warrant, comprising a face value of ₹10 and a premium of ₹62.

Equity Share Allotment

The company allotted 23 lakh equity shares to five non-promoter investors. Qualified Institutional Buyers (QIBs) accounted for the majority of the equity stake.

Post-allotment, Aegis Investment Fund PCC holds a 9.15% stake, while Niveza Small Cap Fund holds 4.93%. The other three allottees each hold a 0.70% stake on a fully diluted basis.

Convertible Warrants

The company also allotted 11.5 lakh convertible warrants to four non-promoter investors. Each warrant is convertible into one fully paid-up equity share. Investors paid 25% of the issue price upfront, with the remaining 75% payable upon conversion.

Enact Technologies Private Limited emerged as the largest warrant holder. Post-allotment, its stake increases from 19.65% to 20.49% on a fully diluted basis. The warrants can be converted into equity shares within 18 months of allotment, in one or more tranches.

What the Numbers Show

The capital raise demonstrates distinct investor segmentation: institutional investors focused on immediate equity exposure, while corporate and individual investors opted for leveraged entry via warrants. Enact Technologies, already a significant shareholder, increased its diluted stake by nearly 1 percentage point through the warrant tranche, signaling continued confidence in the company’s long-term valuation trajectory.