Shivam Autotech Issues Corrigendum to Postal Ballot Notice for Preferential Issue
Shivam Autotech Limited issued a corrigendum to its postal ballot notice regarding a preferential issue of up to ₹1,200 crore via 12,000 optionally convertible debentures. Proceeds will repay ₹115 crore of NCDs and fund ₹5 crore for working capital. Voting is from December 2 to December 31, 2025.
The preferential issue of up to ₹1,200 crore to repay debt and fund working capital is a significant financial event for the company, impacting its capital structure and operational capacity.
The announcement is a corrigendum to a previous notice and provides clarifications regarding a preferential issue. It does not contain new material financial information or significant positive or negative developments, hence the sentiment is neutral.
Shivam Autotech Limited has issued a corrigendum to its Postal Ballot Notice dated December 1, 2025. This corrigendum pertains to Item No. 1, which concerns the approval for the issuance of unlisted, secured, redeemable, optionally convertible debentures on a preferential basis.
The company is making specific modifications to the language used in Item No. 1 and its Explanatory Statement to ensure compliance with SEBI ICDR Regulations, specifically referencing Regulation 166A read with Regulation 164(4).
The preferential issue involves up to 12,000 unlisted, secured, redeemable, optionally convertible debentures of face value ₹1,00,000 each, at an issue price of ₹1,00,000 per debenture, for an aggregate amount of up to ₹1,200 crore. The proceeds will be utilized towards the repayment of non-convertible debentures issued to the Proposed Allottee (₹115 crore) and for the long-term working capital requirements of the Company (₹5 crore).
The corrigendum also clarifies details regarding the valuation report from independent registered valuer Mr. Chandan Bhatia, including its link and the valuer's address. Additionally, it provides the link to the certificate from the practicing company secretary, Manju Bala & Associates, confirming compliance with ICDR Regulations. The voting for the postal ballot is scheduled to begin on December 2, 2025, and conclude on December 31, 2025.
What to do with a filing like this
Shivam Autotech Limited filed this with the NSE as a statutory disclosure, categorised under equity fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Shivam Autotech Limited. Read the original for the full detail.