Qualitek Labs has issued the formal notice for an Extra-Ordinary General Meeting (EGM) scheduled for October 16, 2026, to seek shareholder approval for a preferential issue aggregating approximately ₹47 crore.

The Board of Directors convened on Tuesday, September 22, 2026, to evaluate and approve these capital infusion proposals under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The meeting commenced at 4:30 pm and concluded at 8:30 pm.

Preferential Issue Details

The company will issue up to 3,86,000 fully paid-up equity shares of face value ₹10 each at an issue price of ₹518.55 per share, including a premium of ₹508.55. This tranche aggregates to an amount up to ₹20,01,60,300.

Additionally, the board approved the issuance of up to 5,20,000 fully convertible warrants, each carrying the right to subscribe to one equity share. These warrants are also priced at ₹518.55 each, aggregating to an amount up to ₹26,96,46,000. The consideration for both instruments is cash.

Allottee Structure and Substitution

The equity shares are proposed to be allotted to 26 investors, primarily in the non-promoter category, with Ashish Rameshchandra Kacholia receiving the largest allocation of 1,73,200 shares. Kamal Grover, a promoter, is allocated 1,200 shares.

The entire tranche of 5,20,000 warrants is proposed to be allotted to TIC Services Private Limited, which falls under the promoter group category. The warrants have a tenor of 18 months from the date of allotment. Subscription requires 25% payment at allotment, with the remaining 75% payable upon exercise.

In a subsequent development on September 23, 2026, the Preferential Issue Committee approved the substitution of one proposed allottee for equity shares. Vibha Singhi (Non-Promoter), originally allocated 16,000 shares, has been replaced by Jagattaraini Tieup Private Limited (Non-Promoter) for the same quantity of 16,000 shares. All other terms and conditions remain unchanged.

Shareholder Approval and Timeline

The preferential issues are subject to the approval of shareholders. The board decided to convene an Extra-Ordinary General Meeting on Friday, October 16, 2026, to seek this consent. The draft notice for the meeting has been approved.

EGM Logistics and Voting Schedule

The EGM will be held virtually through Video Conferencing/Other Audio-Visual Means at 12:30 pm. Pursuant to Section 108 of the Companies Act, 2013, members can cast votes via remote e-voting. The schedule for voting is as follows:

Regulatory Compliance and Trading Window

Pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the exchange was notified of the meeting. A trading window remained closed for designated persons, including directors, promoters, and their immediate relatives, from September 17, 2026, until 48 hours after the conclusion of the board meeting, extending through September 24, 2026.

The notice of the meeting is available on the company’s website and the BSE portal. Antaryambhiksha, Managing Director, signed the intimation.

Qualitek Labs has withdrawn the proposal to increase the overall managerial remuneration limit to 35% from its Eighth Annual General Meeting (AGM) notice. The board approved this withdrawal via a circular resolution on September 7, 2026.

The company scheduled its AGM for September 25, 2026, at Avanta Business Centre in New Delhi. Shareholders can participate via remote e-voting from September 22 to September 24, 2026. The cut-off date for e-voting eligibility is September 18, 2026.

Withdrawal of Remuneration Proposal

The original draft notice, approved on August 29, 2026, included Item No. 4 as a Special Resolution to raise the remuneration payable to Directors, including the Managing Director and Whole-Time Directors, from 28% to 35% of net profits. This calculation is based on Section 198 of the Companies Act, 2013.

Following the board’s decision on September 7, 2026:

• Item No. 4 will not be considered, discussed, or put to vote at the AGM.
• No remote e-voting or voting at the AGM will be conducted for this item.
• The existing approval of members regarding the 28% managerial remuneration limit, approved at the Seventh AGM, remains in force.

Other Board Approvals

The withdrawal of Item No. 4 does not affect other businesses proposed in the AGM notice. The board previously considered several governance matters during its meeting at the Noida corporate office:

• AGM Notice: Approved the draft notice for FY26, including ordinary and special business items.
• Directors' Report: Approved the draft report along with annexures for member consideration.
• Tax Auditor: Re-appointed M/s J Madan & Associates as Tax Auditor for FY27 (Assessment Year 2027-28).
• Scrutinizer: Appointed CS Ronak Jhuthawat as scrutinizer for the e-voting process.
• E-voting Agency: Appointed Central Depository Services (India) Limited (CDSL) to facilitate voting.

Director Re-appointment

The board recommended the re-appointment of Antaryami Nayak, who retires by rotation at the ensuing AGM. Nayak, who has served as Managing Director since May 2, 2023, brings extensive experience in the Testing, Inspection and Certification (TIC) sector, finance, and business strategy.

Related Party Transactions

The board approved entering into material Related Party Transactions during FY27, subject to Audit Committee approval and shareholder consent. These transactions will comply with Section 188 of the Companies Act, 2013, and Regulation 23 of SEBI Listing Regulations.