Hiliks Technologies Limited has published the corrigendum to its postal ballot notice in newspapers on July 21, 2026. The company issued the corrigendum on July 20, 2026, to provide additional details regarding the utilization of proceeds from a proposed preferential issue of equity shares and convertible warrants. The e-voting facility for this resolution is available from July 3, 2026, at 9:00 a.m. until August 1, 2026, at 5:00 p.m.

The corrigendum was issued following observations from BSE Limited and the Metropolitan Stock Exchange of India Ltd, requiring the company to elaborate further on the objects of the issue. The revised explanatory statement specifies that the total issue proceeds amount to ₹24.84 crore. This figure is based on the estimated full conversion of warrants into equity shares within the stipulated timeframe and the full allotment of proposed equity shares.

Utilization of Issue Proceeds

The company has detailed the allocation of the ₹24.84 crore proceeds in the corrigendum. The majority of the funds are directed towards working capital requirements, while a smaller portion is earmarked for general corporate purposes. The utilization of these funds is expected to occur in phases, subject to the company's working capital requirements and the availability of proceeds.

Considering 100% conversion of Warrants into equity shares within the stipulated time as well as full allotment of proposed equity shares.

Regulatory Compliance and Variations

The company stated that the proceeds from the preferential issue, totaling ₹24,80,00,000, will be utilized in compliance with BSE circular no. 20221213-47 dated December 13, 2022. This regulation limits the utilization for general corporate purposes to not exceeding 25% of the gross proceeds. Additionally, the amount specified for the objects may deviate by +/- 10% depending on future circumstances, financial conditions, and market factors.

The corrigendum also replaces a previous note regarding the Practicing Company Secretary's Certificate. The certificate from Mr. Alok Jain, confirming compliance with SEBI (ICDR) Regulations, is now hosted on the company's website. All other contents of the original postal ballot notice remain unchanged, and this corrigendum must be read in conjunction with the original notice.

Hiliks Technologies Ltd has fixed the remote e-voting period from July 3, 2026, to August 1, 2026, to seek shareholder approval for the preferential allotment of 23 lakh equity shares and 11.5 lakh warrants, aiming to raise an aggregate consideration of ₹24.84 crore. The issuance, priced at ₹72 per share including a premium of ₹62, is intended to meet working capital requirements and for general corporate purposes. The company has engaged Central Depository Services (India) Limited (CDSL) to facilitate remote e-voting for members.

The Board of Directors approved the issuance of up to 23,00,000 equity shares with a face value of ₹10 each and up to 11,50,000 warrants. The allotment will be made to nine non-promoter investors, including Aegis Investment Fund PCC, Niveza Small Cap Fund, and Enact Technologies Private Limited. The issue is subject to the approval of shareholders and complies with the Companies Act, 2013, and Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

The warrants are convertible into one fully paid-up equity share each within 18 months from the date of allotment. Investors must pay 25% of the consideration at application, with the balance due at conversion. The equity shares and warrants will be allotted within 15 days from the date of passing the resolution, subject to necessary regulatory approvals. The shares will rank pari passu with existing equity shares.

Preferential Allotment Details

The company has appointed Mr. Alok Jain, representative of M/s. Jain Alok & Associates, Practicing Company Secretaries, as the scrutinizer for the postal ballot voting process. Electronic voting facilities will be provided to members holding shares as on the cut-off date of June 26, 2026. The scrutinizer will submit the report, and results will be declared on or before August 4, 2026.