Kalind Limited has issued a corrigendum to its 32nd Annual General Meeting (AGM) notice, withdrawing the proposed preferential issue of warrants and replacing it with a fresh equity share allotment worth up to ₹98.99 crore. The Board of Directors finalized this restructuring during its meeting on September 17, 2026.

The company notified the Department of Corporate Services at BSE under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. This disclosure supersedes earlier intimations dated August 20 and August 28, 2026, which had outlined the initial proposal for issuing warrants. The AGM is scheduled for September 29, 2026.

Restructuring the Fund Raise

The Board withdrew the entire proposal for the preferential issue of up to 27.48 crore warrants, fully convertible into equity shares, at an issue price of ₹11.50 per warrant. That earlier plan, approved on August 28, 2026, sought to raise up to ₹316.02 crore. Instead, the company will now issue equity shares directly.

The new proposal involves the allotment of up to 8,60,86,956 fully paid-up equity shares with a face value of ₹2 each. The issue price is set at ₹11.50 per share, including a premium of ₹9.50. This pricing is based on the floor price determined as on the relevant date of August 28, 2026, in accordance with SEBI ICDR Regulations. An independent valuation report by Mr. Suman Kumar Verma confirmed a minimum price of ₹11.39 per share, justifying the ₹11.50 issue price.

Proposed Allottees

The equity shares will be allotted on a preferential basis to three non-promoter entities. The allocation details are as follows:

Utilization of Proceeds

The company plans to utilize the proceeds towards capital expenditure for energy and manufacturing businesses, including renewable energy, power infrastructure, textile, and diamond manufacturing. Approximately ₹90 crore is allocated for this purpose, with the remaining ₹8.99 crore designated for working capital requirements. All funds are expected to be utilized within 24 months.

Shareholding Pattern Impact

The post-issue shareholding pattern assumes full subscription by the proposed allottees. Promoter holding will dilute from 13.56% to 12.39%, while public holding will increase from 86.44% to 87.61%. The total number of equity shares will rise from 9.14 crore to 10.00 crore.

Regulatory Approvals and Lock-in

The proposed equity shares will rank pari passu with existing shares and be listed on BSE Limited subject to approvals. The allottees, being non-promoters, must lock in their securities for six months from the date of trading approval granted by the stock exchange, as per Regulation 167 of the SEBI ICDR Regulations. BSE has sought certain clarifications regarding the proposed issue.

Next Steps

The Board has authorized management to issue a corrigendum to the Notice of the Annual General Meeting scheduled for September 29, 2026. The corrigendum withdraws the agenda item regarding the warrant issue and inserts a new special resolution for the preferential equity issue. Ayush Jasani, Vice Chairman and Managing Director (DIN: 09842741), signed the intimation.

Abhishek Ashvinbhai Kamdar HUF reduced its stake in Kalind Ltd to 4.59% following the disposal of 2.91 crore equity shares. The transaction was executed through open market and off-market channels between April 7, 2026, and September 8, 2026.

The entity filed a disclosure under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, with the BSE Limited on September 8, 2026. The filing details the change in shareholding and voting rights for the target company.

Shareholding Changes

Prior to the disposal, Abhishek Ashvinbhai Kamdar HUF held 7,11,06,787 equity shares, representing 7.77% of the total share capital. This pre-disposal figure reflects adjustments for corporate actions, specifically a stock split and bonus issue, applied to an earlier holding of 94,80,905 shares.

The entity sold 2,91,24,024 shares, which accounted for 3.18% of the total voting capital. No warrants, convertible securities, or other instruments entitling the acquirer to receive shares were involved in the transaction.

Capital Structure Context

The disclosure notes a change in the company's equity share capital structure during the reporting period. Before the acquisition/sale period began, the total voting capital consisted of 1,21,89,000 shares with a face value of ₹10 each, aggregating to ₹121.89 crore.

Following corporate actions, the total voting capital stood at 9,14,17,500 shares with a face value of ₹2 each, aggregating to ₹182.84 crore. The diluted share capital remains identical to the post-action equity capital at 9,14,17,500 shares.

The acquirer is not part of the promoter or promoter group of Kalind Ltd. There were no encumbrances, pledges, or liens on the shares held by the HUF either before or after the disposal.