SEPC Ltd has issued a corrigendum to its postal ballot notice dated July 06, 2026, providing specific details regarding a preferential issue of equity shares. The filing, circulated to members on July 22, 2026, outlines the proposed allotment of 1,53,00,00,000 equity shares through a share swap mechanism with three specific entities. This issuance will alter the shareholding structure of the company, with the proposed allottees moving from a zero holding to significant stakes post-issue.

The corrigendum specifies the details of the proposed allottees and the maximum number of equity shares to be swapped and allotted. Avenir Oil Field Equipment L.L.C, UAE will swap 3 shares for 5,10,00,000 issued shares. Tranvel Holidays Private Limited will swap 44 shares for 74,80,00,000 issued shares. Zoomstud Impex Private Limited will swap 43 shares for 73,10,00,000 issued shares. All three entities are classified as Non-Promoters.

Shareholding and Beneficial Owners

The document identifies the natural persons who are the ultimate beneficial owners of the entities receiving the allotment. For Avenir Oil Field Equipment L.L.C, the beneficial owner is Uma Gunaseelan. For Tranvel Holidays Private Limited, the beneficial owner is Abdulla Abdulrahman Yousuf Ahmed Al Nasser. For Zoomstud Impex Private Limited, the beneficial owner is Sultan Yousef Naser Alhosani.

Post-Issue Capital Structure

The preferential issue will result in the proposed allottees holding a combined percentage of the post-preferential issue capital. The following table details the pre-issue and post-issue shareholding percentages, assuming all partly paid shares are converted into fully paid shares.

The corrigendum updates the weblinks for the Valuation Report and the Certificate of a Practicing Company Secretary, directing members to the company's website. All other contents of the original Postal Ballot Notice remain unchanged. The document has been published in Business Standard and Makkal Kural and is available on the BSE and NSE websites.

SEPC has informed the exchanges that its unincorporated joint operation, SEPC-Furlong JV, received a termination notice cancelling a significant infrastructure contract. M/s. Shalimar Corp Limited (SCL) issued the notice for the EPC sub-contract related to the widening and upgradation of the Shahjahanpur-Bisalpur section in Uttar Pradesh. The cancellation of this ₹521.46 crore lump-sum turnkey contract poses a material impact on the joint venture's order book.

Termination Notice Details

The termination notice, referenced as SCL/SZP/SEPC-Furlong/2026-26/01 dated July 2, 2026, was received via email on July 11, 2026. This development follows an earlier intimation on May 14, 2026, regarding the signing of the sub-contract and the receipt of the Letter of Acceptance (LOA). The company is currently awaiting the original copy of the termination notice.

The following table summarises the key details of the terminated contract:

Arbitration and Regulatory Compliance

In response to the cancellation, the matter has been referred to arbitration. SEPC stated that it will inform the stock exchanges of any material developments in accordance with the SEBI (LODR) Regulations, 2015. The filing was made by T Sriraman, Company Secretary & Compliance Officer.