Kalyani Cast Tech has issued a corrigendum to its Extraordinary General Meeting (EGM) notice dated July 4, 2026, to clarify details regarding a preferential issue of convertible equity warrants. The EGM is scheduled to be held on July 28, 2026, at 12:00 P.M. IST via video conferencing. The clarification follows a request from BSE Limited on July 10, 2026, seeking additional information about the preferential issue.

The corrigendum specifically amends Clause (vi) of the explanatory statement for Item No. 1 in the original notice. It identifies the six proposed allottees who belong to the promoter or promoter group of the company and have indicated their intention to subscribe to the warrants.

The following individuals are listed as proposed allottees:

The document confirms that aside from these six individuals, no other directors, promoters, key managerial personnel, or senior management personnel intend to subscribe to the convertible equity warrants or contribute separately to the issue. The corrigendum forms an integral part of the original EGM notice, which must be read in conjunction with this update.

The company stated that the original notice was dispatched in compliance with the Companies Act, 2013, and relevant rules. The filing for in-principle approval from BSE was made pursuant to Regulation 28(1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The corrigendum will be available on the websites of BSE and Kalyani Cast Tech.

Kalyani Cast Tech Limited has scheduled an Extraordinary General Meeting (EGM) on July 28, 2026, to seek shareholder approval for the preferential issue of 3,23,123 convertible equity warrants at ₹582 each, aggregating ₹18,80,57,586. The warrants, convertible into one equity share of ₹10 face value each within 18 months, aim to bolster the company's financial resources for capital expenditure, working capital requirements, and general corporate purposes. The issue price includes a warrant subscription price of 25% payable upfront and an exercise price of 75% payable at the time of conversion.

Allotment Structure

The preferential allotment will see six promoter group investors and one non-promoter subscribe to the warrants. Ms. Jayashree Kumar, Whole Time Director, is the largest proposed allottee with 89,708 warrants, while Mr. Sanskar Bangani and Ms. Sumbul Khan will receive 1,07,708 and 1,07,707 warrants respectively. The issue is subject to regulatory and shareholder approvals.

The following table outlines the proposed warrant allotment to various investors:

Utilization of Proceeds

The company intends to utilize the net proceeds of ₹18,80,57,586 towards specific developmental and operational needs. An estimated ₹10,00,00,000 is allocated for capital expenditure related to the development, expansion, and modernization of rail terminal infrastructure and allied facilities. Additionally, ₹5,50,00,000 will be directed towards meeting working capital requirements for rail operations, including freight, logistics, and maintenance. The remaining ₹3,30,57,586 is earmarked for general corporate purposes, subject to the condition that not more than 25% of the consideration received for the allotment of convertible warrants shall be utilized for this objective.

Pricing and Regulatory Framework

The issue price of ₹582 per warrant was determined in accordance with Chapter V of the SEBI ICDR Regulations, based on the higher of the 90-day or 10-day volume weighted average price (VWAP) preceding the relevant date of June 25, 2026. The 90-day VWAP was ₹581.64, and the 10-day VWAP was ₹581.09. The company has voluntarily obtained a valuation report from an independent registered valuer, Mr. Mohit Jain, despite the issue not resulting in a change in control. The allotment is structured in accordance with Section 42 and Section 62(1)(c) of the Companies Act, 2013.

EGM and Voting Details

To facilitate the transaction, the board has scheduled the EGM for July 28, 2026, at 12:00 PM via video conferencing. The company has fixed July 21, 2026, as the record date to determine member eligibility for voting. Remote e-voting will be available from July 25, 2026, at 09:00 AM to July 27, 2026, at 05:00 PM. Shareholder approval is critical for the issuance to proceed as planned.