L. T. Elevator secured shareholder approval on June 13, 2026, to raise funds through a preferential issue of equity shares and warrants. The Extra-Ordinary General Meeting (EOGM), conducted via video conferencing, passed four resolutions with 100% of votes cast in favour. These measures enable the company to alter its capital structure and infuse equity capital to support business operations.

Voting Outcomes

Mrs. Nikita Agarwal of Nikita R Agarwal & Associates, Practicing Company Secretaries, served as the Scrutinizer for the e-voting process. The record date for determining eligibility was June 08, 2026. A total of 1,22,29,252 votes were polled, representing 63.8168% of the total outstanding shares. All resolutions were passed with the requisite majority, receiving zero votes against.

Capital Structure Changes

Shareholders approved an ordinary resolution to increase the authorised share capital and alter the capital clause of the Memorandum of Association. Additionally, a special resolution was passed to amend the Articles of Association. These constitutional changes are necessary to facilitate the proposed capital raising activities.

Preferential Issue Details

The EGM granted approval for two special resolutions concerning the issuance of securities. The company is authorised to issue up to 21,27,563 equity shares and up to 5,31,914 fully convertible warrants on a preferential basis. Both instruments will be issued for cash consideration, allowing the company to raise equity funds.

l. t. elevator has issued a corrigendum to the notice of its Extra-Ordinary General Meeting (EGM) scheduled for June 13, 2026, substituting the proposed allottee for its preferential issue. The company replaced Rainbow Agri Commodities Pvt. Ltd. with Resource Vincom Private Limited as the recipient of 26,596 equity shares in the non-promoter category. The EGM will be held through video conferencing to seek shareholder approval for the issuance.

The corrigendum modifies resolution 03 of the original EGM notice and the accompanying explanatory statement. Consequently, the disclosure regarding the shareholding of the proposed allottee has been updated to state that none of the proposed allottees presently hold any equity shares in the company. The ultimate beneficial owners of the new allottee, Resource Vincom Private Limited, are identified as Rajendra Bhutra and Anju Devi Bhutra. The company confirmed that there will be no change in control or management consequent to the preferential issue.

The company intends to utilize the proceeds from the preferential issue, aggregating up to ₹4999.82 lakh, for specific objects. The allocation includes ₹1500.00 lakh for financing capital expenditure to set up a new factory, ₹2750.00 lakh for funding inorganic growth through unidentified acquisitions, and ₹441.82 lakh for general corporate purposes. Additionally, ₹308.00 lakh is allocated to bear the expenses related to the preferential allotment.

Utilization Schedule

The company has outlined a schedule for the deployment of funds. The capital expenditure for the new factory is to be utilized within 18 months from the date of allotment, while funds for acquisitions are to be deployed within 12 months. The amounts for general corporate purposes and issue expenses are to be utilized within 24 months from the date of allotment.

Object of the Issue

The proposed new factory aims to consolidate manufacturing operations at a single location to enhance operational efficiencies. The company has acquired land in Howrah, West Bengal, for this facility. Regarding acquisitions, the management stated that while preliminary discussions are ongoing, no definitive agreements have been finalized as of the notice date. Pending utilization, the proceeds will be invested in money market instruments or scheduled commercial bank deposits.