Kirloskar Electric Company Limited Kirloskar Electric Company Limited has issued a corrigendum to the notice of its 79th Annual General Meeting (AGM), clarifying details regarding a preferential share issue. The correction is critical for shareholders voting on the utilization of issue proceeds, ensuring transparency before the meeting scheduled for August 13, 2026.

The corrigendum addresses specific changes in the heading "Object of the Preferential Issue / Utilization of Issue Proceeds" found in the explanatory statement of the original AGM notice dated July 16, 2026. This amendment ensures that shareholders have accurate information regarding how funds from the preferential allotment will be deployed, a key factor in investment decisions for equity stakeholders.

Regulatory Compliance and Disclosure

The company filed the corrigendum with the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) in compliance with Regulation 30 and Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice was published in Business Standard (English) and Prajavani (Kannada) on August 5, 2026, to ensure wide dissemination among investors.

Mahabaleshwar Bhat, Company Secretary & Compliance Officer of Kirloskar Electric Company Limited, signed the disclosure. The corrigendum forms an integral part of the original AGM notice, which was circulated to shareholders on July 21, 2026. Shareholders are advised to read the original notice in conjunction with this correction.

Meeting Details

The 79th AGM will be held on Thursday, August 13, 2026, at 11:00 AM (IST). The meeting will be conducted through Video Conferencing (VC) or Other Audio Visual Means (OAVM), allowing remote participation for shareholders. All other contents of the AGM notice remain unchanged except for the modifications specified in the corrigendum.

What This Means for Investors

The issuance of a corrigendum related to preferential issue proceeds often signals a refinement in the company’s capital allocation strategy or a clarification of regulatory requirements. For investors, verifying the updated object of the issue is essential before casting votes during the e-voting period. The company has made the corrected documents available on its investor relations website at www.kirloskarelectric.com .

Kirloskar Electric Company Limited issued a corrigendum to its 79th Annual General Meeting (AGM) notice on August 04, 2026, clarifying the utilization of proceeds from a proposed preferential equity issue. The company corrected its earlier disclosure to specify that ₹14,99,99,927.38 of the total ₹39,99,99,927.38 raise is exclusively earmarked for funding working capital requirements, with no portion allocated for general corporate purposes. This clarification ensures compliance with SEBI regulations and provides shareholders with precise details on capital deployment ahead of the AGM scheduled for August 13, 2026.

The correction modifies the explanatory statement for Item No. 8 of the AGM notice, which concerns the preferential allotment of 34,68,007 equity shares at ₹115.34 per share to Kirloskar Power Equipments Limited, a promoter group entity. Previously, the notice indicated that the remaining funds after debt repayment would support both working capital and general corporate purposes. The updated disclosure explicitly states that the allocation towards general corporate purposes is nil. This adjustment aligns the proposal with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Revised Fund Utilization Plan

The proceeds from the preferential issue will be utilized as follows:

The repayment of borrowings is contingent upon obtaining necessary consents from the company’s consortium lenders. Post-allotment, Kirloskar Power Equipments Limited’s stake in Kirloskar Electric will increase from 1.73% to 6.60%.

AGM and E-Voting Schedule

The 79th AGM will be held on August 13, 2026, at 11:00 AM IST via Video Conferencing or Other Audio Visual Means. Shareholders holding shares as of the cut-off date, August 06, 2026, are eligible to vote. Remote e-voting will commence on August 10, 2026, at 9:00 AM IST and conclude on August 12, 2026, at 5:00 PM IST. The register of members and share transfer books will remain closed from August 07, 2026, to August 13, 2026, inclusive.

Key Resolutions and Compliance

In addition to the preferential issue, shareholders will vote on the re-appointment of Mr. Vijay R Kirloskar as Executive Chairman and the appointment of Ms. Janaki Kirloskar as Joint Managing Director. The corrigendum was signed by Mahabaleshwar Bhat, Company Secretary & Compliance Officer, and dispatched via email to registered members. It is also available on the company’s website and the portals of the Bombay Stock Exchange and National Stock Exchange. All other contents of the original AGM notice remain unchanged and continue in full force.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE134B01017/7fdafc81-50ee-4a94-b897-e64c8b046c64.pdf