Mini Diamonds (India) Limited issued a corrigendum to its Extra-Ordinary General Meeting (EGM) notice on July 23, 2026, to align the explanatory statement for Item No. 1 with suggestions received from BSE Limited. The amendment clarifies the utilization of proceeds from the proposed preferential issuance of convertible warrants to persons belonging to the Promoter and Promoter Group, ensuring transparency for shareholders voting in the meeting scheduled for August 7, 2026.

The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company had previously submitted an application to BSE Limited seeking in-principle approval for the preferential issue under Regulation 28(1) of the SEBI Listing Regulations. The corrigendum replaces specific points in the original EGM notice dated July 9, 2026, specifically Point No. 1(a) and the paragraph titled "Utilization of proceeds of the Preferential Issue."

Proceeds Allocation for Lab-Grown Diamonds

The company stated that it intends to utilize the net proceeds from the Preferential Issue, aggregating to at least ₹8,88,00,000, towards the procurement of lab-grown diamonds. The funds are allocated equally between rough and polished inventory, as detailed below:

Timeline and Conversion Assumptions

The management estimates that the entire proceeds received from the issue will be utilized within three months from the date of receipt of funds. This timeline assumes 100% conversion of the warrants into equity shares within the stipulated time. The company noted that issue proceeds shall be received within an 18-month period from the date of allotment of warrants, in compliance with Chapter V of the SEBI ICDR Regulations. Utilization will occur in phases based on business requirements and fund availability.

What the Numbers Show

The equal split of capital between rough and polished lab-grown diamonds suggests a balanced approach to inventory management, potentially aiming to capture value addition at both upstream and downstream stages of the supply chain. By restricting the preferential issue to the Promoter Group, the company signals strong internal confidence in the strategic expansion into lab-grown diamonds, while the explicit linkage of fund utilization to warrant conversion highlights a structured capital deployment strategy contingent on shareholder participation.

The EGM is scheduled to be held on Friday, August 7, 2026, at 09:30 a.m. (IST) at the company's registered office in Mumbai. Members are requested to read the corrigendum in conjunction with the original EGM notice before casting their votes.

Mini Diamonds (India) Ltd has introduced a Make to Order (MTO) service for retail customers through its wholly owned subsidiary Namra Jewels Private Limited. The initiative enables customers to customize jewellery based on individual preferences, including design, diamond specifications, metal choice, and size. This service is available across both online and offline platforms, aiming to provide a personalized buying experience while maintaining the company's quality standards.

The Make to Order model reflects Namra Jewels' focus on evolving consumer preferences for personalized jewellery and a consultative purchase experience. By manufacturing pieces only against confirmed orders, the company expects to optimize inventory deployment and improve working capital utilization. This approach also provides greater flexibility in responding to changing customer requirements and design trends.

Commenting on the announcement, the management stated that the introduction of the MTO service represents a step towards building a customer-centric retail platform. The management emphasized that personalized jewellery is becoming an increasingly important part of the buying experience. The initiative is designed to address individual customer preferences while strengthening operational efficiency through demand-driven manufacturing.

The strategy aligns with the company's long-term objective of building a scalable retail business founded on quality, flexibility, and prudent capital allocation. Mini Diamonds (India) Ltd is a public limited company listed on BSE Limited, established in 1987. The company is known for its cut and polished diamonds and jewellery manufacturing, catering to both Indian and international markets through B2B and B2C channels.