Shiva Granito approves ₹9.4 cr issue, EGM Nov 5 2026

What the company approved on October 6

Shiva Granito Export Ltd said its board approved a preferential issue of equity shares and warrants, taking the total fund-raise to ₹9.3975 crore. The approval covers two instruments issued on a preferential basis: equity shares and warrants convertible into equity. The issue price for both the shares and the warrants was set at ₹10.50 per instrument. The company has also set the next formal step in the process by scheduling an Extra Ordinary General Meeting (EGM) for shareholder approval.

The disclosure follows a sequence of corporate updates the company has been making to the exchange around board and shareholder meetings. The board meeting was scheduled for October 6, 2026, and the agenda included raising funds through a preferential issue. Separately, the company’s 11th Annual General Meeting (AGM) had been held on September 30, 2026, in Udaipur, Rajasthan.

Total size of the preferential issue: ₹9.3975 crore

The company stated that the board approved a preferential issue totaling ₹9,39,75,000, which is ₹9.3975 crore. This total is split between an equity component and a warrant component. Both legs are priced at ₹10.50 each.

From the information disclosed, the board-approved structure is straightforward: an immediate issuance of equity shares for part of the proceeds, and the remainder through warrants that can be converted into equity. The company also disclosed an expected change in promoter holding post-issue.

Equity shares: 54.5 lakh shares at ₹10.50

Under the equity component, Shiva Granito Export approved the issuance of 54,50,000 equity shares. The issue price is ₹10.50 per share. Based on the company’s stated numbers, this equity leg is expected to raise ₹5,72,25,000, which is ₹5.7225 crore.

The company has not, in the provided disclosure, described the intended use of the funds or the identity of proposed allottees. It has also not provided details on any lock-in, conversion periods, or other instrument terms within the text shared.

Warrants: 35 lakh warrants at ₹10.50

Alongside the equity shares, the board approved 35,00,000 warrants. Each warrant is priced at ₹10.50. The warrant leg is expected to raise ₹3,67,50,000, which is ₹3.6750 crore.

The disclosure describes these as warrants convertible into equity shares and notes that these are also being issued on a preferential basis. No additional warrant terms are included in the provided text.

EGM on November 5, 2026 for shareholder approval

The company scheduled an Extra Ordinary General Meeting for November 5, 2026. The EGM is intended to seek shareholder approval for the preferential issue. This aligns with the earlier board meeting agenda items disclosed, which included finalising the time, date, and venue of the EGM, approving the EGM notice, and other routine matters with the chair’s permission.

The company had earlier indicated that the preferential issue and warrant issuance would be subject to necessary regulatory and statutory approvals, including consent from members. The EGM is the formal route for that member approval.

Promoter holding expected to fall to 27.54%

One of the key data points disclosed is the expected impact on promoter shareholding. Shiva Granito Export said promoter holding is expected to reduce from 44.46% to 27.54% post-issue.

The company has not, in the provided information, detailed whether the dilution is due to non-participation by promoters in the preferential issue, changes in the number of shares outstanding, or other structural factors. The stated post-issue number, however, clearly signals a meaningful dilution relative to the pre-issue promoter percentage.

Context: board meeting intimation and SEBI LODR reference

The preferential issue plan had been flagged earlier through a board meeting intimation. Shiva Granito Export (BSE scrip code: 540072) disclosed that it had scheduled a board meeting on October 6, 2026, to consider raising funds through a preferential issue of equity shares and convertible warrants.

The intimation to the exchange was stated to be filed in line with Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication was signed by Abhinav Upadhyay, Managing Director, and dated October 2, 2026.

AGM update: FY26 financials adopted with 100% votes

Before the preferential issue decision, the company held its 11th AGM on September 30, 2026, in Udaipur. The AGM agenda included corporate governance and compliance items, including adoption of the financial statements for the fiscal year ended March 31, 2026.

The company disclosed that shareholders unanimously approved the adoption of FY2025-26 financial statements at the AGM. A consolidated scrutinizer’s report dated October 2, 2026, was cited as confirming that all voted resolutions received 100.00% support in favour. The AGM approvals also included director-related items, with director appointments referenced as Rachna Upadhyay, Krati Maheshwari, and Rekha Panwar.

Key numbers at a glance

What investors typically track next in such issuances

From the company’s disclosed timeline, the next procedural milestone is shareholder approval at the November 5, 2026 EGM. The board had also flagged that the EGM notice would be approved as part of the process. Investors generally look to the EGM notice and subsequent filings for clarity on the final terms and any statutory conditions attached to the issue.

In this case, the company has already provided the headline quantities, pricing, total proceeds, and expected promoter dilution. Any further details beyond these points would be expected through formal notices and exchange filings connected with the EGM outcome.

Conclusion

Shiva Granito Export’s board has approved a ₹9.3975 crore preferential issue split between equity shares and warrants, both priced at ₹10.50, and has scheduled an EGM on November 5, 2026 for shareholder approval. The company has also disclosed that promoter holding is expected to decline from 44.46% to 27.54% after the issue. The next confirmed step is the shareholder vote at the EGM, following which the company can proceed based on the approvals and regulatory requirements referenced in its filings.