Seshachal Technologies Limited shareholders approved the issue and allotment of up to 55,000 fully paid-up equity shares on a preferential basis during an Extra-Ordinary General Meeting (EGM) held on October 19, 2026.

The special resolution authorizes the issuance of equity shares with a face value of ₹10 each at an issue price of ₹76 per share. This price includes a premium of ₹66 per share, aggregating to a total fund raise of ₹41,80,000. The shares are allotted to Mr. Ch. Narendra and Mrs. Ch. Anitha, who belong to the Promoter Group, with each receiving 27,500 shares.

Investment in Triveni Jewellers

In addition to the capital raise, members approved an investment proposal under Section 186 of the Companies Act, 2013. The company is authorized to make investments of up to ₹10 crore in one or more tranches in the equity shares and/or other securities of Triveni Jewellers and Bullion Private Limited.

Meeting Proceedings

The EGM was conducted via Video Conferencing and Other Audio-Visual Means, commencing at 12:00 noon and concluding at 12:25 pm. The meeting was chaired by Mr. Raj Singh Rawat, with requisite quorum present through remote e-voting facilities provided by Central Depository Services (India) Limited.

The Statutory Auditors were not present at the meeting. The scrutiniser’s report and final voting results are subject to submission within two working days, with resolutions deemed passed on the date of the meeting, October 19, 2026, subject to requisite majority approval.

Seshachal Technologies Limited has dispatched its postal ballot notice seeking shareholder approval for the preferential allotment of fully convertible warrants worth Rs 25,00,00,014. The company's board had earlier approved this significant fundraising initiative on March 05, 2026, and has now formally initiated the shareholder approval process.

Postal Ballot Process Details

The postal ballot notice dated March 06, 2026, has been sent to eligible shareholders for seeking approval through remote e-voting. The company has engaged Central Depository Services (India) Limited (CDSL) to provide the remote e-voting facility to its members.

CS Piyush Gandhi of M/s. Piyush Gandhi & Associates has been appointed as the scrutinizer for conducting the postal ballot process in a fair and transparent manner.

Warrant Issue Structure

The preferential issue involves the allotment of up to 1,13,63,637 fully convertible warrants to 21 investors belonging to the "Non-Promoter, Public Category." Each warrant is priced at Rs 22, exceeding the floor price determined under SEBI ICDR Regulations.

The warrants will be convertible into an equivalent number of fully paid-up equity shares with a face value of Rs 10 each. Upon allotment, warrant holders must pay 25% of the total issue size upfront, with the remaining amount payable upon conversion.

Fund Utilization Plan

The company intends to utilize the gross proceeds from the preferential issue for specific business objectives:

Shareholding Impact

The preferential issue will significantly alter the company's shareholding pattern upon full conversion of warrants:

The conversion would result in promoter shareholding declining from 33.87% to 1.95%, while public shareholding would increase substantially to 98.05%.

Valuation and Pricing

The company obtained a valuation report from Mr. Manish Santosh Buchasia, IBBI Registered Valuer, who determined the fair value of the convertible warrants at Rs 20.00 per warrant. The board approved an issue price of Rs 22 per warrant, which is higher than the valuation report price and complies with SEBI ICDR Regulations.

The postal ballot notice and related documents are available on the company's website, BSE Limited's website, and CDSL's e-voting portal for shareholder reference.

Source: None/Company/INE331F01010/189f03b2-5764-4286-a4d8-31bb02c3a775.pdf