Tirupati Forge Limited published Corrigendum-II to its Extraordinary General Meeting (EGM) notice in Indian Express and Financial Express on July 28, 2026, to rectify errors in the shareholding pattern table. The update ensures shareholders have accurate data ahead of the EGM scheduled for July 31, 2026, where the preferential issue of convertible warrants will be approved. This correction addresses discrepancies in promoter and non-promoter holdings disclosed in the original notice dated July 7, 2026.

The company dispatched Corrigendum-II via email to members on July 27, 2026, completing the process before the remote e-voting period commenced on July 28, 2026. The filing confirms compliance with Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The corrigendum specifically amends Item No. 2 of the explanatory statement, which pertains to the preferential allotment of warrants.

Corrected Shareholding Pattern

The primary purpose of the update was to fix pre- and post-issue shareholding percentages and absolute numbers as of June 30, 2026. The corrected figures reflect the position assuming full subscription and conversion of 37,00,000 proposed convertible warrants along with 8,50,000 warrants pending conversion.

Meeting Details and Voting

The EGM will be held on July 31, 2026, at 11:00 A.M. (IST) via Video Conferencing and Other Audio Visual Means (VC/OAVM). Remote e-voting runs from July 28, 2026, at 9:00 A.M. to July 30, 2026, at 5:00 P.M. The cut-off date for voting eligibility is July 24, 2026. Shareholders must read Corrigendum-II in conjunction with the original notice and Corrigendum-I issued on July 17, 2026.

The proposal involves the preferential allotment of warrants to promoter group members Bhargavi Thummar, Hiteshkumar Gordhanbhai Thummar, and Chetna Thummar. The price per warrant remains fixed at ₹58.00. All other terms of the EGM notice remain unchanged.

Tirupati Forge Limited has convened an Extraordinary General Meeting (EGM) on July 31, 2026, to seek shareholder approval for the issuance of 37,00,000 convertible warrants on a preferential basis. The company aims to raise ₹21.46 crore through this issuance, which will be directed towards promoters and the promoter group. The funds raised will be utilized for working capital requirements, the purchase of land, plant and machinery, and other general corporate purposes.

The board proposes to issue the warrants at a price of ₹58 each, comprising a face value of ₹2 and a premium of ₹56. The pricing is determined in accordance with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and is not less than the higher of the 90-day and 10-day volume weighted average price (VWAP) preceding the relevant date. The 90-day VWAP was ₹47.21, while the 10-day VWAP was ₹57.75.

The warrants are convertible into one fully paid-up equity share each, with an exercise period of 18 months from the date of allotment. The proposed allottees include Hiteshkumar Gordhanbhai Thummar, Bhargvi Manojbhai Thummar, and Chetna Mukeshbhai Thumar. The allotment is subject to a lock-in period as specified under the SEBI ICDR Regulations.

Post-issue, the promoter holding is expected to increase to 51.14% from the current 49.75%, assuming full conversion of the warrants into equity shares. The company stated that the preferential issue will not result in any change in the management or control of the company. The equity shares issued upon conversion will rank pari-passu with existing shares, including dividend rights.

The remote e-voting facility will commence on July 28, 2026, and conclude on July 30, 2026. Shareholders recorded in the register of members or beneficial owners as of the cut-off date, July 24, 2026, will be entitled to vote. The company has engaged National Securities Depository Limited (NSDL) to facilitate the e-voting process.