Nakoda Group Clarifies Preferential Warrant Issue Disclosures After NSE Query

Nakoda Group of Industries Limited has issued a clarification to the stock exchanges regarding the preferential issue of convertible warrants, following observations received from the National Stock Exchange of India Limited. The clarification pertains to the Special Resolution passed at the Extra-Ordinary General Meeting (EGM) held on May 13, 2026, and was submitted on May 14, 2026, under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Background: EGM and Warrant Issuance

At the EGM convened on May 13, 2026, shareholders approved the issuance of up to 87,00,000 convertible warrants at a price of ₹28 per warrant, inclusive of a premium of ₹18 per warrant, aggregating to a total of ₹24.36 crore. The warrants are to be allotted to promoters and non-promoter categories of persons on a preferential basis. The resolution was passed as a special resolution with an overwhelming majority, with 99.95% of valid votes cast in favour.

Clarification on Promoter Intent

In response to NSE's observations, the company acknowledged that it had inadvertently omitted to state the intention of persons other than those mentioned in the original Explanatory Statement. The company has now inserted the following clarification:

"Except as mentioned above, no other Promoters, Directors or Key Managerial Personnel of the Company shall subscribe to the proposed issue and they shall not be making any contribution as part of the offer. There shall be no change in control or management of the Company pursuant to the proposed issue. However, the voting rights shall change in proportion to the post-issue shareholding pattern."

Revised Allottee Details

The updated Explanatory Statement now includes the following details regarding the promoter and KMP intent to subscribe to the convertible warrants:

Parameter:	Details
Proposed Allottee:	No CTRL Enterprises LLP
Category/Designation:	Promoter Group
Key Partners:	Mr. Jayesh Pravin Choudhary (Promoter & Whole Time Director) and Mr. Pravin Navalchand Choudhary (Promoter & Managing Director)
No. of Warrants to be Issued:	40,00,000

The company confirmed that no other Promoters, Directors, or Key Managerial Personnel intend to subscribe to the proposed issue, and there will be no change in control or management of the company. Voting rights, however, will change in proportion to the post-issue shareholding pattern.

Voting Outcome at EGM

The shareholder vote on the warrant issuance was conducted through remote e-voting between May 10, 2026, and May 12, 2026. The scrutinizer's report confirmed the following results:

Voting Particulars:	Number of Members	Votes Cast (Shares)	% of Valid Votes
Voted For:	14	13,24,807	99.95%
Voted Against:	1	641	0.05%
Invalid / Abstained:	0	0	-

The clarification was signed by Jayesh Choudhary, Whole Time Director (DIN: 02426233), and submitted to both NSE and BSE for record purposes.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.38%	+11.46%	+33.68%	+44.20%	+38.16%	-24.91%

Nakoda Group of Industries Limited filed a corrigendum on May 08, 2026, to its Notice of Extraordinary General Meeting (EGM) dated April 16, 2026, which had been circulated to all shareholders on April 21, 2026. The corrigendum was submitted to the National Stock Exchange of India Ltd. and BSE Limited under Regulation 30 and Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The advertisement was published in The Indian Express and Loksatta newspapers on May 08, 2026, and has also been uploaded on the company's website at https://nakodas.com/shareholders-information/ .

Key Corrections in the Explanatory Statement

The corrigendum introduces three specific modifications to the original EGM notice. The table below summarises the corrections made:

Point No.	Subject of Correction	Revised Statement
Point (E)	Promoter/Director/KMP Subscription Intent	Clarifies that certain promoters, directors, or key managerial personnel of the company intend to subscribe to Convertible Warrants, which was not adequately stated earlier.
Point (H)	Stock Exchange Listing Reference	Updated to reflect that the equity shares are listed on both NSE and BSE Limited, correcting the earlier mention of BSE Limited only. Price determination is pursuant to Regulation 164(1) and Regulation 166A of the SEBI (ICDR) Regulations.
Point (I)	Listing Reference for Pricing Compliance	Revised to state that since equity shares have been listed on NSE and BSE Limited for more than 90 trading days prior to the Relevant Date, the company is not required to re-compute the price per equity share or submit undertakings under Regulations 163(1)(g) and (h) of the SEBI (ICDR) Regulations.

Corrigendum Details

The corrigendum was signed by Jayesh Choudhary, Whole Time Director (DIN: 02426233), on behalf of Nakoda Group of Industries Limited. The company's registered office is located at 239, Bagad Gali, Nagpur - 440008, Maharashtra, India (CIN: L15510MH2013PLC249458).

Scope and Applicability

The corrigendum is to be read in continuation of and in conjunction with the original EGM notice. All other contents of the original notice remain unchanged. Key highlights of the filing are as follows:

The corrigendum is issued under Regulation 30 and Regulation 47 of SEBI (LODR) Regulations, 2015.
The original EGM notice was dated April 16, 2026, and circulated to shareholders on April 21, 2026.
The newspaper advertisement was published on May 08, 2026, in The Indian Express and Loksatta.
The updated corrigendum is available on the company's website: https://nakodas.com/shareholders-information/

The filing ensures that shareholders have access to accurate and complete information regarding the company's Convertible Warrants issuance and its dual listing status on both major Indian stock exchanges.