Kalind Limited board of directors approved a preferential issue of up to 27.48 crore warrants at ₹11.50 each, aggregating to ₹316.02 crore. The move aims to raise capital from public category investors on a private placement basis.

The board held its meeting on August 28, 2026, to consider and approve the issuance under Regulation 30 of SEBI Listing Regulations. Each warrant is fully convertible into one equity share of face value ₹2, with a premium of ₹9.50 per share.

Deal Structure and Pricing

The issue price of ₹11.50 per warrant was determined based on valuation reports from registered valuers, as required by SEBI ICDR Regulations. Investors must pay 25% of the issue price at subscription, with the remaining 75% payable upon exercise.

Warrant holders can exercise their rights in one or more tranches within 18 months from allotment. Unexercised warrants will lapse, and the subscription amount paid will be forfeited to the company.

Investor Details

The warrants are being allotted to two non-promoter entities on an equal basis. Both investors are classified under the public category.

Shareholding Impact

The proposed issue will dilute promoter holding while increasing public participation. On a fully diluted basis, assuming full conversion, the promoter group’s stake will drop from 13.56% to 10.43%. The public category shareholding will rise from 86.44% to 89.57%.

Auditor Appointment and AGM

The board also approved the re-appointment of P H H A D & Co LLP (formerly D G K T & Co LLP) as statutory auditors for five financial years, from FY27 to FY31. This appointment is subject to shareholder approval.

An annual general meeting is scheduled for September 29, 2026, via video conferencing to seek member approvals for these proposals. The meeting commenced at 1:30 pm and concluded at 2:40 pm.

Kalind Limited has scheduled a meeting of its Board of Directors for Friday, August 28, 2026. The primary agenda item involves a proposal for raising funds in one or more tranches by way of the issue of equity shares and/or convertible securities, including convertible warrants.

The funding may be raised for cash or consideration other than cash, including by way of share swap. The company indicated that this could be executed through preferential allotment, private placement, qualified institutions placement (QIP), rights issue, further public issue, or any other permissible mode or combination thereof. These actions are subject to applicable laws and necessary governmental, statutory, regulatory, and member approvals.

Regulatory Compliance and Trading Window

In compliance with Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, Kalind Limited issued prior intimation of the board meeting.

Pursuant to the company's Code for Prevention of Insider Trading and the SEBI (Prohibition of Insider Trading) Regulations, 2015, the trading window for dealing in the securities of the company is closed. This restriction applies to Designated Persons, Insiders, and their Immediate Relatives with immediate effect from August 20, 2026. The window will remain closed until 48 hours after the conclusion of the board meeting scheduled for August 28, 2026.

Key Details

Ayush Jasani, Vice Chairman and Managing Director of Kalind Limited, signed the intimation letter addressed to the Department of Corporate Services at BSE.