TaylorMade Renewables Limited has issued a corrigendum to its Extraordinary General Meeting notice, making important revisions to the terms of its proposed preferential issue of fully convertible warrants. The company announced these updates on March 18, 2026, ahead of its scheduled EGM on March 30, 2026.

Key Revisions to Warrant Issue Terms

The corrigendum introduces two significant changes to the original EGM notice dated March 07, 2026:

The relevant date has been revised to February 27, 2026, being the trading day immediately preceding February 28, 2026 (a non-trading day), which falls 30 days prior to the EGM date. This revision affects the floor price calculation for the preferential issue under SEBI regulations.

Preferential Issue Details

The company proposes to issue up to 10,00,000 fully convertible warrants through preferential allotment, with the following structure:

The total consideration for the warrant issue amounts to ₹12,35,10,000. Each warrant carries the right to subscribe to one equity share of face value ₹10 within 18 months from the date of allotment.

Pricing and Valuation Framework

The warrant price of ₹123.51 has been determined based on SEBI ICDR Regulations, representing the higher of:

• 90 Trading Days VWAP on BSE preceding the relevant date: ₹123.51
• 10 Trading Days VWAP on BSE preceding the relevant date: ₹115.03

The pricing is supported by a valuation report dated February 28, 2026, issued by CA Jainam Hitesh Shah, Registered Valuer (IBBI Registration No. IBBI/RV/07/2020/13500).

Fund Utilization and Business Objectives

The proceeds from the warrant issue will be utilized for the implementation and commercialization of the company's patented sugar manufacturing technology. The funds are earmarked for:

• Manufacturing pilot-scale sugar processing plants
• Demonstration and field-scale implementation at select facilities
• Process validation, optimization, and scale-up activities
• Research and development initiatives
• Marketing and business development
• General corporate purposes for the Sugar Technology business vertical

Warrant Terms and Conditions

The warrants come with specific terms governing their conversion and trading:

The warrants will be allotted in dematerialized form within 15 days of the special resolution approval, subject to regulatory approvals. Warrant holders can exercise their conversion rights in one or more tranches during the 18-month period.

Meeting and Voting Arrangements

The EGM will be conducted through Video Conferencing (VC) and Other Audio Visual Means (OAVM) on March 30, 2026, at 01:00 PM. The company has engaged Bigshare Services Pvt Ltd for facilitating remote e-voting, with the voting period scheduled from March 27, 2026 (10:00 AM) to March 29, 2026 (05:00 PM).

M/s Surana and Kothari Associates LLP has been appointed as the scrutinizer for the e-voting process. The cut-off date for determining eligible voters is March 20, 2026.

Taylormade Renewables Limited has successfully concluded its board meeting on February 28, 2026, approving a significant preferential issue of fully convertible warrants worth ₹12.30 crore. The board meeting, originally scheduled for February 24, 2026, was convened to consider comprehensive fund raising proposals and has resulted in concrete approvals for the company's expansion plans.

Warrant Issue Details and Structure

The Board of Directors has approved the issuance of up to 10,00,000 fully convertible warrants at ₹123 per warrant, with each warrant convertible into one equity share of face value ₹10. The warrants carry an 18-month conversion period from the date of allotment, providing flexibility to investors.

Proposed Investor Allocation

The preferential issue will be allocated to two specific investors under the public category, with equal distribution of warrants between both parties.

Extraordinary General Meeting and Approvals

The company has scheduled an Extraordinary General Meeting on March 30, 2026, to seek shareholder approval for the proposed preferential issue. The board has appointed Surana and Kothari Associates LLP as scrutinizers for the e-voting process, with March 20, 2026, fixed as the cut-off date for determining voting eligibility.

Fund Utilization for Sugar Technology

The proceeds from the warrant issue will be specifically utilized for the implementation and commercialization of the company's patented sugar manufacturing technology. This represents Phase I of a structured capital deployment plan focusing on pilot-scale manufacturing, demonstration projects, and process validation activities.

The warrant structure requires 25% payment at subscription and allotment, with the remaining 75% payable upon exercise. This funding initiative positions Taylormade Renewables to advance its proprietary sugar technology commercialization while providing investors with conversion flexibility over the 18-month period.