Nakoda Group Publishes EGM Notice for Rs. 24.36 Crore Convertible Warrants Issue
Nakoda Group of Industries Limited has published its EGM notice in Indian Express and Loksatta newspapers on April 22, 2026, fulfilling regulatory compliance requirements. The company seeks shareholder approval for issuing 87,00,000 convertible warrants worth Rs. 24,36,00,000 at Rs. 28/- per warrant during the May 13, 2026 EGM to be conducted via video conferencing.
*this image is generated using AI for illustrative purposes only.
Nakoda Group of Industries Limited has announced an Extraordinary General Meeting (EGM) scheduled for May 13, 2026, to seek shareholder approval for a significant preferential issue of convertible warrants worth Rs. 24,36,00,000. The company has fulfilled its regulatory compliance obligations by publishing the EGM notice in newspapers on April 22, 2026.
Regulatory Compliance and Publication Details
In compliance with Regulation 30 and Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published advertisements in Indian Express and Loksatta newspapers on April 22, 2026. The notice has also been uploaded on the company's website at https://nakodas.com/shareholders-information/ .
| Parameter: | Details |
|---|---|
| Publication Date: | April 22, 2026 |
| Newspapers: | Indian Express, Loksatta |
| Website Upload: | https://nakodas.com/shareholders-information/ |
| Stock Exchanges: | NSE (NGIL), BSE (541418) |
EGM Details and Warrant Issue Structure
The EGM will be conducted on Wednesday, May 13, 2026 at 3:00 PM through video conferencing or other audio-visual means. The company proposes to issue 87,00,000 convertible warrants at an issue price of Rs. 28/- per warrant, which includes a premium of Rs. 18/- each.
| Parameter: | Details |
|---|---|
| Total Warrants: | 87,00,000 |
| Issue Price per Warrant: | Rs. 28/- (including Rs. 18/- premium) |
| Total Issue Size: | Rs. 24,36,00,000 |
| Meeting Date: | May 13, 2026 at 3:00 PM |
| Mode: | Video Conferencing/OAVM |
Allottee Distribution and Categories
The convertible warrants will be allocated across promoter and non-promoter categories, with No CTRL Enterprises LLP receiving the largest allocation.
| Allottee Name: | Warrants Allocated | Category | Percentage |
|---|---|---|---|
| No CTRL Enterprises LLP: | 40,00,000 | Promoter | 45.98% |
| Equirise Advisors LLP: | 10,00,000 | Non-Promoter | 11.49% |
| Vishal Mahesh Waghela: | 10,00,000 | Non-Promoter | 11.49% |
| Onvo Aquarrius Private Limited: | 10,00,000 | Non-Promoter | 11.49% |
| Sarthak Goyal: | 10,00,000 | Non-Promoter | 11.49% |
| Other Individual Allottees: | 7,00,000 | Non-Promoter | 8.05% |
Fund Utilization Plan
The company has outlined a comprehensive utilization plan for the issue proceeds, assuming 100% conversion of warrants into equity shares within the stipulated timeframe.
| Purpose: | Amount (Rs.) | Timeline |
|---|---|---|
| Working Capital: | 18,01,96,500 | 2 years |
| General Corporate Purpose: | 6,08,51,280 | 2 years |
| Issue Related Expenses: | 25,52,220 | 2 years |
| Total: | 24,36,00,000 |
Voting and Participation Details
Shareholders can participate in remote e-voting from May 10, 2026 at 9:00 AM to May 12, 2026 at 5:00 PM. The cut-off date for determining eligible voters is May 6, 2026. The company has appointed M/s. R.A. Daga & Co., Practicing Company Secretaries, as scrutinizers for the voting process. The meeting will accommodate up to 1,000 members on a first-come-first-served basis, with priority access for large shareholders, promoters, institutional investors, and key personnel.
Historical Stock Returns for Nakoda Group of Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.27% | +15.16% | +51.66% | +21.99% | +9.02% | -33.34% |
How will the significant dilution from 87 million new shares impact Nakoda Group's existing shareholders and stock price performance?
What specific working capital requirements or growth initiatives is Nakoda Group planning that necessitates Rs. 18 crore in funding?
Will the increased promoter stake through No CTRL Enterprises LLP's 46% warrant allocation affect the company's governance structure or strategic direction?
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