Jindal Worldwide Limited has notified shareholders of its 40th Annual General Meeting (AGM) scheduled for Tuesday, September 1, 2026, at 3:00 PM IST via Video Conferencing. The meeting carries significant strategic weight as shareholders are set to vote on a proposed rights issue of up to ₹650 crore and an increase in authorized share capital by ₹45 crore to facilitate the fund-raising exercise. These resolutions, alongside the re-appointment of Vice-Chairman & Managing Director Amit Yamunadutt Agarwal, mark key governance and expansion milestones for the textile manufacturer.

The Board of Directors approved the rights issue proposal in its meeting held on August 7, 2026. To accommodate the potential allotment, the company seeks shareholder consent to raise its authorized share capital from ₹101 crore to ₹146 crore. This involves creating an additional 45 crore equity shares of ₹1 each, which will rank pari-passu with existing shares. The resolution requires approval under Section 13 and Section 61 of the Companies Act, 2013, necessitating a special resolution from members.

Key Resolutions for Shareholder Approval

The AGM agenda includes both ordinary and special business items critical to the company’s operational continuity and growth strategy:

Mr. Vikram Pushpak Oza, who retires by rotation, offers himself for re-appointment as a Non-Executive Non-Independent Director. He has served on the board since November 2006 and currently draws a remuneration of ₹1.5 lakh per month (₹18 lakh per annum), which is proposed to remain unchanged.

Leadership and Governance Updates

A central focus of the special business is the re-appointment of Mr. Amit Yamunadutt Agarwal as Managing Director for a three-year term from September 3, 2026, to September 2, 2029. The Board recommends his re-appointment citing his 27 years of experience in the textile industry and his role in guiding the company’s diversification. His remuneration is proposed at ₹25 lakh per month (₹3 crore per annum), subject to statutory limits under Section 197 of the Companies Act, 2013. The Board retains the authority to revise this remuneration within prescribed managerial ceilings.

Additionally, shareholders will ratify the remuneration of M/s. K. V. M & Co., Ahmedabad (FRN: 000458), as Cost Auditors for FY27. The approved fee is ₹1 lakh, excluding taxes and out-of-pocket expenses, pursuant to Section 148 of the Companies Act, 2013.

E-Voting and Meeting Logistics

In compliance with SEBI (LODR) Regulations and Ministry of Corporate Affairs circulars, the AGM will be conducted entirely through Video Conferencing/Other Audio Visual Means (VC/OAVM). Remote e-voting will be facilitated by Central Depository Services (India) Limited (CDSL) from August 29, 2026, at 9:00 AM IST to August 31, 2026, at 5:00 PM IST. The record date for determining voting eligibility is August 25, 2026.

Shareholders holding shares in demat form can vote directly through their depository participant accounts. Those holding physical shares must register on the CDSL e-voting portal using their folio numbers. The Register of Members and Share Transfer Books will remain closed from August 26, 2026, to September 1, 2026, inclusive. Proxy appointments are not permitted for meetings held via VC/OAVM under current regulations.

Jindal Worldwide Limited Board of Directors approved a rights issue of up to ₹650 crore on August 7, 2026, aiming to eliminate all debt by FY27. The company will increase its authorized share capital from ₹101 crore to ₹146 crore to facilitate the issuance. This strategic move is designed to strengthen the balance sheet, reduce interest costs, and improve operational flexibility for the integrated textile manufacturer.

The Board also approved the re-appointment of Amit Yamunadutt Agarwal as Vice-Chairman & Managing Director, effective September 3, 2026. His current term expires on September 2, 2026. The re-appointment requires shareholder approval at the upcoming Annual General Meeting (AGM).

Rights Issue and Capital Hike

The Board authorized the issuance of equity shares with a face value of ₹1 each, up to an aggregate amount of ₹650 crore. The proceeds are earmarked for deleveraging, with management setting a clear target of becoming debt-free by FY27. To support this, the authorized share capital will rise from ₹101 crore (101 crore shares) to ₹146 crore (146 crore shares), necessitating an alteration in the Capital Clause of the Memorandum of Association.

AGM and Regulatory Compliance

Both the rights issue and the capital hike are subject to member approval at the 40th Annual General Meeting, scheduled for Tuesday, September 1, 2026. The meeting will be held via Video Conferencing or Other Audio Visual Means. The cut-off date for determining voting eligibility is August 25, 2026. The Register of Members and Share Transfer Books will remain closed from August 26, 2026, to September 1, 2026.

The disclosure was made under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The terms, including issue price and entitlement ratio, will be decided by a newly constituted 'Securities Issuance Committee'.

Management Outlook

Amit Agrawal, Vice Chairman & Managing Director, described the rights issue as a "defining moment" for the company. He stated that raising up to ₹650 crore provides the necessary firepower to reset the balance sheet fundamentally. "Becoming debt-free by FY27 will unlock greater operational flexibility, improve our credit profile, and enhance long-term value for all our stakeholders," Agrawal said. The management believes this initiative will materially improve financial flexibility and free up resources for future growth in the textile business.