B.R.Goyal Infrastructure Announces EGM with Plans for 11 Lakh Convertible Warrants and Large-Scale Borrowing Approval

B.R.Goyal Infrastructure Announces EGM with Plans for 11 Lakh Convertible Warrants and Large-Scale Borrowing Approval​

B.R.Goyal Infrastructure Limited has announced plans for an Extraordinary General Meeting (EGM) concerning a major preferential allotment of convertible warrants, alongside seeking shareholder approval for strategic borrowing and charging company assets. The EGM is scheduled to take place on June 29, 2026.

The Board of Directors proposed three key Special Resolutions that require shareholder ratification at the upcoming meeting. These include the creation and issue of up to 11 lakh Convertible Warrants (Warrants), approval for borrowing money in excess of specified limits, and approval for creating a charge on the company's assets.

Preferential Allotment of Convertible Warrants​

The primary agenda item proposed at the EGM is seeking consent from members to create, offer, issue, and allot up to 11,00,000 Convertible Warrants (Warrants). These warrants are offered on a private and preferential basis to non-promoter investors.

Key financial details of the warrant allotment include:

• Total Capital Raise: Up to Rs. 13,09,00,000/- (Rupees Thirteen Crore Nine Lakh only).
• Warrant Details: The Warrants have a face value of Rs. 10/- and were offered at an issue price of Rs. 119/-, which includes a premium of Rs. 109/- per warrant.
• Conversion Option: Each warrant grants the holder an option to subscribe and convert into one equity share, with the conversion price set at Rs. 119/, also including a premium of Rs. 109/- per equity share.
• Tenure: The warrants may be converted within a period of 18 months from the date of allotment.

The proposed Warrants are distributed among nine non-promoter entities, with Sonal R Karani and Jayantkumar Nandlal Shah receiving the maximum allocation of 2,00,000 Warrants each.

A summary of the proposed allottees for the warrants is as follows:

The company intends to utilize the Issue Proceeds towards meeting Working Capital requirements, with a tentative timeline for utilization set as June 30, 2028.

Strategic Approvals and Financial Controls​

Two other major proposals seeking Special Resolution approval relate to the Company’s financial structuring:

1. Borrowing Approval: Shareholders are asked to approve the ability of the Board to borrow money in excess of specified limits under Section 180(1)(c) of the Companies Act, 2013. This borrowing capacity is capped such that the principal amount will not exceed Rs. 700.00 Crore (Rupees Seven Hundred Crore only).
2. Charge Creation: A resolution is proposed for the Board to create a charge on the Company’s movable and immovable properties to secure future loans or the issue of debentures, provided that the total amount, including interest and other associated costs, does not exceed Rs. 700.00 Crore (Rupees Seven Hundred Crore only).

EGM and Voting Details​

The Extraordinary General Meeting will be conducted through Video Conferencing (VC) or Other Audio Visual Means (OAVM). Remote e-voting is available for members of the Company.

Stock Price Movement​

B.R.Goyal Infrastructure Ltd shares are edging higher in the market as of 13:57, currently trading at ₹130.00, which is a gain of +1.29%. The stock navigated a solid intraday range, moving between a low of ₹125.50 and an intraday high of ₹130.25.