India Cements Capital has scheduled its 40th Annual General Meeting for Tuesday, September 15, 2026. The meeting will commence at 11:00 am and be conducted through Video Conferencing or Other Audio Visual Means in compliance with the Companies Act, 2013 and SEBI LODR Regulations.

The company notified shareholders via newspaper advertisements in Trinity Mirror and Makkalkural on August 22, 2026. The notice aligns with Regulation 30 of the SEBI LODR Regulations, 2015. Shareholders are expected to transact ordinary and special business as outlined in the notice issued on August 5, 2026.

Meeting Details

The company’s registered and corporate office is located at Gee Gee Emerald, Nungambakkam, Chennai. Suresh Krishnamurthy, Company Secretary, digitally signed the disclosure on August 22, 2026.

E-Voting and Record Date

Shareholders holding shares as of the cut-off date of September 8, 2026, are eligible to vote. The remote e-voting period commences on September 12, 2026, at 9:00 am and ends on September 14, 2026, at 5:00 pm. Voting rights are proportional to the paid-up equity share capital as on the cut-off date.

Members who cast their vote by remote e-voting prior to the AGM may attend the meeting via VC/OAVM but cannot vote again during the meeting. Only shareholders present via VC/OAVM who have not voted remotely are eligible to vote during the AGM. The facility for appointment of proxies is not available for this virtual meeting.

Share Transfer Book Closure

Pursuant to Section 91 of the Companies Act, 2013, and Regulation 42 of the SEBI LODR Regulations, 2015, the Register of Members and Share Transfer Books will remain closed from September 9, 2026, to September 15, 2026, inclusive. This closure is necessary for determining the list of members entitled to attend the AGM and exercise voting rights.

India Cements Capital public shareholders can tender their equity shares starting September 17, 2026, as acquirers Sandeep Jain, Vikas Garg, and Rahul Nagar proceed with a mandatory open offer to acquire up to 26% of the company’s voting share capital. The offer price is fixed at ₹12 per share, matching the negotiated price paid by the acquirers to purchase a 50.02% promoter stake from Sri Saradha Logistics Private Limited on July 24, 2026. This transaction marks a significant change in control, with the new promoters aiming to revive business performance while maintaining the existing workforce and foreign currency trading operations.

The acquirers filed the Draft Letter of Offer (DLOF) with SEBI on August 7, 2026, following a public announcement on July 24, 2026. The open offer seeks to acquire up to 56,43,612 fully paid-up equity shares, representing 26% of the total voting share capital. The tendering period runs from September 17, 2026, to September 30, 2026. The identified date for determining eligible shareholders is September 2, 2026. The offer is subject to prior approval from the Reserve Bank of India (RBI) regarding the change in control and management of the target company, which is an Authorized Dealer Category-II.

Financial arrangements for the offer are secured through the acquirers’ own net worth, with no external borrowings envisaged. An escrow account has been opened with Yes Bank Limited, holding ₹1,70,00,000, which exceeds the required 25% of the maximum consideration of ₹6,77,23,344. The offer price of ₹12 per share was justified under Regulation 8(2) of the SEBI (SAST) Regulations as it is higher than the volume-weighted average price and the fair value of ₹6.19 per share certified by an IBBI-registered valuer.

What the Numbers Show

The acquisition coincides with India Cements Capital’s return to profitability in Q1FY27, reporting a standalone net profit of ₹6.12 lakh compared to a loss of ₹36.28 lakh in the same quarter last year. While revenue from operations declined slightly to ₹113.40 lakh from ₹127.48 lakh, cost containment drove the turnaround. The new promoters, who are also promoters of Pankaj Polymers Limited, bring combined individual net worths exceeding ₹99 crore as of June 30, 2026. Post-offer, if fully accepted, public shareholding may fall below the minimum 25% requirement, obligating the acquirers to restore it within prescribed timelines to maintain listing status.