Spectrum Electrical Industries Ltd

Resolution summary

• Special resolution to approve preferential issue of equity shares and convertible warrants.
• Promoter group participated; promoter interest declared.
• Voting: approved; total votes polled 14,11,102; in favour 14,11,102; against 0.
• Promoter/Promoter Group hold 11,427,260 shares; total outstanding 15,713,840.
• Record date: 13-08-2026.

Resolution details

• Special resolution to approve preferential issue of equity shares and convertible warrants.
• Proposed raise amount: ₹324.99 crore.
• Intended allottees: promoter and marquee investors (non-promoter).
• Use of proceeds to follow the Explanatory Statement.
• Promoter/director interest: MD Deepak Suresh Chaudhari is interested; he did not chair.
• Chair for the meeting: Pankaj Ravindra Rote presided.
• Voting was conducted by remote e-voting and ballot papers.
• Outcome of voting not disclosed in the filing.
• Scrutinizer appointed: Ms. Yuti Nagarkar.
• Date and venue: 20 August 2026, at registered office Jalgaon.
• Meeting chair changed due to MD’s interest.
• Results to be submitted to stock exchanges within two working days.

Auditor appointments

• Internal Auditor reappointed: Sonawane MOR and Company for FY 2026-27.
• Cost Auditor reappointed: Kolhe & Associates for FY 2026-27.
• Effective date of reappointment: 13 August 2026.
• Reason: to comply with Section 138 (Internal Audit) and Section 148 (Cost Audit).
• Appointed for the financial year 2026-27.
• No relationship between auditors and Spectrum Directors.

Financial results approved

• Standalone unaudited quarterly results for quarter ended 30 June 2026 approved; audit committee reviewed; limited review by auditors.
• Consolidated unaudited quarterly results for quarter ended 30 June 2026 approved; audit committee reviewed; limited review by auditors.

Auditors and audits

• Internal Auditor reappointed: M/s Sonawane Mor and Company for 2026-27, effective 13 August 2026.
• Cost Auditor reappointed: M/s Kolhe & Associates for 2026-27, effective 13 August 2026.

Revision of prior period consolidated results

• Consolidated quarterly information for March 31, 2026 revised; no impact on annual figures.

Regulatory declarations and auditor remarks

• Regulatory declaration under Regulation 33(2)(a) confirms results are not false or misleading.
• Auditors' review: no material misstatement; conclusion not modified.

EGM purpose

• Approval for preferential issue of Equity Shares and Convertible Warrants.

Proceeds use

• Interim deployment up to 24 months in money market instruments, bank deposits, or government securities.

Allottees & status

• Proposed allottees include HDFC MF schemes, Valuequest India Inflexion Fund, Minosha India Ltd.
• Promoter Deepak Suresh Chaudhari remains promoter; others remain non-promoter.

Governance wording

• Explanatory Statement adds 'Senior Management' after 'Key Managerial Personnel'.

EGM logistics

• EGM dated Aug 20, 2026, 11:30 AM, Jalgaon.
• Remote e-voting window Aug 16–19, 2026.

Corrigendum scope

• Corrigendum forms integral part of the EGM Notice; clarifies interim use and allottees.

Purpose of EGM

• To approve preferential issue of equity shares and convertible warrants to selected subscribers.

Resolution Details

• Type: Special resolution for preferential issue.
• Equity: up to 13,73,625 shares at Rs 2,002 each.
• Warrants: up to 2,49,750 at Rs 2,002 each.
• Conversion: Warrants convert to equity at Rs 1,992 premium; 18 months.
• Proposed allottees include HDFC MF schemes, Valuequest, Minosha, and Deepak Chaudhari.
• Floor price: Rs 2,001.04 per equity share and per warrant.
• Lock-in: Equity to non-promoter 6 months.
• Lock-in: Warrants to promoter 1 year.
• Lock-in: Equity on conversion 18 months.
• Post-issue promoter holding: Chaudhari 49.53%; total promoters 67.35%.
• No change in control; stock exchange approvals required.
• Timing: allotment within 15 days of approval or last regulatory approvals.
• Listing: equity shares to be listed; warrants not listed.

Funding & Use of Proceeds

• Proceeds up to Rs 324.99 crore; Rs 250 crore for debt repayment; Rs 75 crore general corporate.
• Utilization within 24 months; tolerance +/-10%.
• Monitoring: Crisil Ratings appointed; quarterly reports to exchanges and website.

Shareholding/Control Impact

• Promoter stake post-issue: 49.53%; total promoter 67.35%.
• Public stake post-issue: 32.65%.

Governance & Other Notes

• Promoter Chaudhari to subscribe to warrants; others not participating.
• No other promoter/Director participation; no change in control.
• Subject to stock-exchange approvals and applicable laws.
• Equity shares will be listed; warrants not listed unless converted.

Regulatory certificate status

• Certificate under Regulation 74(5) for quarter ended 30 June 2026 enclosed from Bigshare Services Private Limited.
• No dematerialisation requests for Spectrum shares received during 01 Apr 2026 to 30 Jun 2026.
• Date of certificate submission: 14 July 2026.

Volume increase clarification

• Volume rise is market-driven; management has no control or knowledge of reasons.
• Company will continue disclosures under Regulation 30 SEBI LODR and stock exchanges.
• No financial impact or revenue effect disclosed in the notice.
• Signed by Company Secretary Rahul Lavane on 07 July 2026.