Swaraj Suiting EGM 2026: ₹174.20 Crore Funding Plan

EGM scheduled for October 24

Swaraj Suiting Limited has called an Extra-Ordinary General Meeting, or EGM, for October 24, 2026. The meeting has been convened to seek shareholder approval for a preferential issue of equity shares and convertible warrants to non-promoters. The proposed fundraising has a total size of ₹174.20 crore. The company’s disclosures show that the proposed issue consists of equity shares worth up to ₹117.25 crore and warrants worth ₹56.95 crore. Both instruments are proposed at an issue price of ₹335 per share or warrant. The EGM follows the company’s 23rd Annual General Meeting, held on September 30, 2026. Swaraj Suiting is listed on the NSE under the symbol SWARAJ and on the BSE under scrip code 544861.

Details of the proposed preferential issue

The preferential issue includes up to 35,00,000 equity shares and up to 17,00,000 warrants. Each proposed warrant will be convertible into one equity share. At the stated issue price of ₹335, the proposed equity-share portion amounts to ₹117.25 crore. The 17,00,000 warrants amount to ₹56.95 crore at the same price. Together, the two components add up to ₹174.20 crore. The proposal requires shareholder approval at the EGM. The company has described the proposed recipients as non-promoters. The available information does not state the outcome of the EGM or the final allotment status.

Corrigendum issued to EGM notice

Swaraj Suiting issued a corrigendum to the EGM notice dated October 1, 2026. The corrigendum relates to the EGM scheduled for October 24, 2026. It was dispatched electronically to shareholders on October 19, 2026. The company also announced the newspaper publication of the corrigendum on October 20, 2026. According to the disclosure, the corrigendum revises explanatory statements connected with the two proposed preferential issues. It clarifies the objects of the issues and ultimate beneficial ownership details. All other parts of the original EGM notice remain unchanged and valid. The company said the corrigendum forms an integral part of the original notice.

Fund utilisation disclosures

The company has stated that the proposed proceeds are earmarked for working capital, capital expenditure and general corporate purposes. Its corrigendum provides additional detail on the use of funds under the proposed issuances. A disclosed table lists ₹12.00 crore for general corporate purposes. This amount represents 21.07% of the issue size referred to in that table. The stated timeline for this use is up to March 31, 2029. The corrigendum was intended to clarify fund-utilisation details rather than alter the proposed issue price or aggregate fundraising size. Shareholders will consider the resolutions based on the original EGM notice and the subsequent corrigendum.

Key figures at a glance

AGM held in September

Before the EGM process, Swaraj Suiting issued notice for its 23rd Annual General Meeting on September 30, 2026. The AGM was held through video conference. The stated agenda included adoption of financial matters and director appointments. The company’s corporate-action information also records an AGM announcement dated September 8, 2026. The AGM and EGM are separate shareholder meetings with different agendas. The AGM dealt with the company’s regular governance and statutory business. The EGM has been called specifically for the preferential fundraising proposals and related resolutions. This distinction is important for shareholders reviewing the company’s recent notices.

E-voting and newspaper notices

The company notified stock exchanges that it had published newspaper advertisements for the EGM and associated e-voting process. The advertisements appeared in The Financial Express and Nafa Nuksan on October 2, 2026, according to the available update. The publication was intended to communicate meeting and voting details to shareholders. The later corrigendum was also published through a newspaper announcement. Such disclosures form part of the company’s communication process for shareholder meetings and voting matters. Swaraj Suiting has linked these announcements to its obligations under listing and corporate-governance requirements. Investors can use the notices and corrigendum to review the terms placed before shareholders.

What the proposal means for shareholders

The EGM resolution is material because it seeks approval for issuing new equity shares and warrants. If approved and allotted, the instruments would raise capital under the stated terms. The warrants are also relevant because each warrant is proposed to convert into one equity share. The eventual equity impact would depend on the proposed allotment and conversion of warrants. The company has placed the issue price at ₹335 for both the equity shares and warrants. The corrigendum provides further information on the intended use of proceeds and beneficial ownership. Shareholders will therefore assess both the funding objectives and the terms of the proposed instruments when considering the resolutions.

Why the disclosures matter

The sequence of notices gives investors a documented record of the proposed transaction. The original EGM notice set out the fundraising resolutions, while the corrigendum added clarification on fund use and beneficial ownership. The company has maintained that all other terms of the original EGM notice remain valid. The disclosed fundraising total is based on the maximum proposed number of shares and warrants at ₹335 each. No change to the aggregate amount of ₹174.20 crore has been indicated in the available corrigendum details. The meeting on October 24, 2026 is the next stated shareholder decision point for the proposal. Any approval, allotment or subsequent capital-structure update would depend on the company’s formal disclosures after the EGM.

Conclusion

Swaraj Suiting’s October 24 EGM will consider a proposed ₹174.20 crore preferential issue comprising equity shares and convertible warrants. The company has issued a corrigendum to clarify fund utilisation and beneficial ownership information while retaining the original EGM notice’s other terms. Shareholders are expected to consider the resolutions through the meeting and the associated e-voting process.