Quality Power Electrical Equipments announced that its subsidiary, Endoks Energy Systems, commenced manufacturing operations at its new Power Conversion Systems (PCS) facility in Niğde, Türkiye, on October 16, 2026. This development marks a strategic expansion into power electronics and energy storage technologies.

The facility is dedicated to producing power electronic converters and inverters for utility-scale Battery Energy Storage Systems (BESS) and other grid-connected applications. It complements the group's existing portfolio of high-voltage equipment and power quality solutions.

Strategic Impact

The new plant strengthens the group's manufacturing and system integration capabilities. It supports the execution of the international BESS order book and enhances the ability to address growing requirements for grid flexibility, renewable energy integration, and energy storage infrastructure.

Production will progressively ramp up in accordance with operational plans and customer delivery schedules. The company submitted this intimation under Regulation 30 of SEBI (LODR) Regulations, 2015.

Quality Power Electrical Equipments Limited issued a second corrigendum to its notice for the Extraordinary General Meeting scheduled for October 19, 2026. This update follows additional observations from the National Stock Exchange of India Limited regarding the disclosure requirements for the proposed preferential issue.

The primary correction relates to the volume weighted average price (VWAP) calculation used for the preferential issue. The original notice stated the 90-trading day VWAP as ₹1,456.40. The first corrigendum clarified that this figure should be read as ₹1,238.49. Despite this adjustment to the reference price, the company confirmed there is no change to the floor price of ₹1,456.40 or the issue price of ₹1,460 per equity share.

Clarification on Pricing Methodology

The latest corrigendum inserts a new sub-paragraph in the Explanatory Statement to clarify the pricing methodology under the company's Articles of Association. Article 17(a)(iii) mandates that the price of shares issued for a consideration other than cash must be determined by a registered valuer's report.

CA Aman Bansal, an independent registered valuer, determined the value of equity shares at ₹1,456.40 per share in a report dated September 23, 2026. The company stated that since this value does not exceed the floor price determined under Regulation 164(1) of the SEBI ICDR Regulations, the floor price remains ₹1,456.40. The issue price of ₹1,460 is compliant as it is not lower than this determined floor price.

Corrections to Share Count and Dates

The notice also rectified the maximum number of equity shares mentioned in the explanatory statement. The figure "10,19,635" has been corrected to "10,17,123" equity shares, ensuring consistency with the resolution at Item No. 1. Additionally, the date of the notice was clarified as September 26, 2026, which is the date of its dispatch to shareholders, rather than the board approval date of September 23, 2026.

Allotment Timeline Clarification

Footnotes on page 25 of the original notice were amended to specify the timeline for share allotment. The equity shares will be allotted to selling shareholders of Winwin Speciality Insulators Limited against the transfer of their shares to the company, pursuant to a share purchase agreement dated September 23, 2026.

The corrigendum states that allotment must be completed within 15 days from the date of passing the special resolution. If regulatory approvals are pending, the allotment must occur within 15 days from the receipt of the last such approval, in compliance with Regulation 170 of the SEBI (ICDR) Regulations, 2018.

What the Numbers Show

The correction reveals a significant divergence between the calculated market price and the fixed transaction price. The revised 90-day VWAP of ₹1,238.49 is approximately 18% lower than the floor price of ₹1,456.40 and the issue price of ₹1,460. This indicates that the preferential issue is being priced at a premium relative to the recent average trading value, rather than at a discount or near-market rate. The reduction in the maximum share count by 2,512 shares aligns the explanatory statement with the specific resolution passed, eliminating potential ambiguity regarding the dilution impact.