IIRM Holdings India Limited received in-principle approval from the Bombay Stock Exchange on August 28, 2026, for a proposed preferential issue of equity shares and warrants to non-promoters.

The exchange approved the issuance of 15,70,352 equity shares and 88,98,657 warrants, both priced at not less than ₹143.28 per unit. Each share has a face value of ₹5. The warrants are convertible into an equal number of equity shares.

Issue Structure

The preferential allotment involves two distinct security types issued at the same price point:

The warrants will convert into 88,98,657 equity shares upon exercise. The total potential equity dilution from this transaction includes both the immediate share issuance and the future conversion of warrants.

Regulatory Compliance and Conditions

The approval was granted under Regulation 28(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company must ensure strict compliance with the Companies Act, 2013, the Securities Contracts (Regulation) Act, 1956, and the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

BSE advised the company to strengthen internal controls to monitor trades by proposed allottees. Key requirements include:

• Obtaining undertakings from allottees confirming no intra-day trading or sales until the allotment date.
• Verifying compliance with Regulation 167(6) of the SEBI ICDR Regulations.
• Submitting a listing application within twenty days of allotment as per Schedule XIX of the ICDR Regulations.

Non-compliance with listing timelines may attract fines under SEBI circular no. SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023. The exchange reserves the right to withdraw approval if submitted information is found incomplete or misleading.

IIRM Holdings India Limited shareholders approved all nine resolutions at the company’s 33rd annual general meeting held on August 27, 2026. The meeting was conducted through video conferencing and other audio-visual means.

All ordinary and special resolutions passed with the requisite majority. The agenda included adopting the audited financial statements for the fiscal year ended March 31, 2026, appointing new directors, and approving managerial remuneration.

Key Resolutions Passed

The voting results, scrutinized by Hemang Satra & Associates, show unanimous support from participating members across all items. The key outcomes include:

• Adoption of standalone and consolidated audited financial statements for FY26.
• Reappointment of Mr. Rama Mohana Rao Bandlamudi as a director retiring by rotation.
• Appointment of Mr. Hithendra Karadathodi Ramachandran and Mr. Sathya Pramod Nagaraj as directors.
• Approval of managerial remuneration for Chairman and Managing Director Mr. Vurakaranam Ramakrishna.
• Authorization for the sale, disposal, or lease of assets of material subsidiaries.
• Approval for preferential issue and allotment of equity shares and convertible warrants on a private placement basis.
• Amendment to the Articles of Association.

Voting Details

The record date for identifying eligible members was August 20, 2026. Remote e-voting commenced on August 24, 2026, and concluded on August 26, 2026. A total of 55 members voted in favor of the non-conflict resolutions, casting approximately 46.7 million votes. No votes were cast against any resolution.

For the special resolution regarding managerial remuneration, where the promoter group was interested, 49 public non-institutional members voted in favor, casting over 7.2 million votes. Promoter group members abstained from voting on this specific item as per regulatory requirements.