Sambhv Steel Tubes Limited has issued a corrigendum to its Extraordinary General Meeting (EGM) notice dated July 16, 2026, to clarify the objects and application of proceeds for a proposed preferential issue of Fully Convertible Equity Warrants. The company seeks shareholder approval for an issuance valued at approximately ₹999.97 crore, aimed at funding capacity expansion, meeting working capital needs, and investing in its subsidiary. This disclosure ensures transparency regarding the deployment of capital, which is critical for investors assessing the dilution impact and strategic direction of the firm ahead of the EGM scheduled for August 10, 2026.

The corrigendum, filed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, amends the explanatory statement of the EGM notice. It specifies that the proceeds will be utilized within defined timelines, primarily within six months from the date of allotment of equity shares, except for general corporate purposes which have a 12-month window from the allotment of warrants. The company has also disclosed the identity of the ultimate beneficial owner of the proposed allottee, Anjaneya Minerals Private Limited.

Allocation of Issue Proceeds

The company has outlined the specific utilization of the net proceeds from the preferential issue. The total estimated amount to be funded is ₹999.97 crore, distributed across capital expenditure, working capital, subsidiary investment, and general corporate purposes.

*Sambhv Tubes Limited is a wholly-owned subsidiary of the company. **The amount allocated to general corporate purposes is within the 25% limit prescribed under SEBI ICDR Regulations.

Strategic Implications and Flexibility

The capacity expansion plans focus on establishing new manufacturing facilities at the Sarora and Kuthrel units, covering land, infrastructure, plant machinery, and utilities. Additionally, ₹50 crore will be invested in Sambhv Tubes Limited via an unsecured loan to fund its own capital expenditure for new manufacturing facilities. The working capital component aims to support business growth by funding operational expenses and inventory purchases.

The company retains flexibility in deploying these funds. In accordance with NSE Circular No. NSE/CML/2022/56 and BSE Circular No. 20221213-47, the amount specified for each object may deviate by +/- 10% based on future circumstances. If proceeds are not utilized as planned due to market or business conditions, the Board may reschedule expenditures or utilize surplus funds for other permitted objects. Until fully deployed, unutilized proceeds will be kept in bank deposits or other short-term instruments permitted by law.

Shareholder Voting Details

Shareholders are invited to vote on the special resolution via remote e-voting. The voting window is open from August 7, 2026, at 09:00 a.m. (IST) to August 9, 2026, at 05:00 p.m. (IST). The physical EGM is scheduled for August 10, 2026. The proposed allottee, Anjaneya Minerals Private Limited, falls under the Promoter Group category. Post-issue, Ashish Goyal, identified as the ultimate beneficial owner, is expected to hold a 2.18% stake in the company through this entity. The corrigendum serves as an integral part of the original EGM notice and must be read in conjunction with it.

Sambhv Steel Tubes Limited has scheduled its 1st Extraordinary General Meeting (EGM) for FY 2026-27 on August 10, 2026, via video conference to seek shareholder approval for a fundraise of up to ₹999.97 million through the preferential allotment of fully convertible equity warrants. The meeting aims to secure approval for the issuance of up to 8,695,400 warrants at a price of ₹115 each, aggregating to a total consideration of up to ₹999,971,000. The warrants will be issued in one or more tranches and are convertible within a period of up to 18 months from the date of allotment.

Fundraising Details

The board evaluated and approved the issuance of warrants on a preferential basis for cash consideration. The issue price includes a premium of ₹105 per warrant over the face value of ₹10. The warrants carry a right to subscribe to one equity share each. An amount equivalent to 25% of the warrant price is payable at the time of allotment, with the balance due upon conversion.

The key parameters of the approved fundraising are outlined below:

Allottees and Shareholding Pattern

The warrants will be allotted to seven investors, including promoters and non-promoters. The proposed allottees include Anjaneya Minerals Private Limited (Promoter Group), Suresh Kumar Goyal (Promoter), and Vikas Kumar Goyal (Promoter). Non-promoter allottees include Bhavesh Khetan, Bikash Agrawal, Saurabh Patil, and Anu Garg.

Upon full conversion of the warrants into equity shares, the shareholding of the promoters will increase. Suresh Kumar Goyal and Vikas Kumar Goyal will see their holdings rise to 6.22% each, while Anjaneya Minerals Private Limited will hold 2.18%.

Shareholder Approval and EGM

The Notice of the EGM was sent to shareholders via email on July 16, 2026. The meeting will be held through Video Conferencing / Other Audio Visual Means provided by KFin Technologies Limited. The Board appointed Mr. Rohitash Kumar Agrawal, Practicing Company Secretary, as the scrutinizer to conduct the e-voting process.

Remote e-voting commences on August 07, 2026, at 9:00 a.m. IST and concludes on August 09, 2026, at 5:00 p.m. IST. Shareholders recorded in the Register of Members or Beneficial Owners as on the cut-off date of August 03, 2026, are entitled to vote. The detailed resolutions and information required under SEBI ICDR Regulations have been dispatched to members.