Hi-Tech Pipes Limited Clarifies Preferential Allotment Percentages for Promoter Group
Hi-Tech Pipes Limited has issued an update regarding its Notice of Postal Ballot dated May 28, 2026, pertaining to the preferential issue of Fully Convertible Equity Warrants. The company provided a corrigendum addressing a clerical error related to the allocation percentages within the explanatory statement.The notice detailed the preferential issue of 90,00,000 Fully Convertible Equity Warrants on a preferential basis to individuals belonging to the Promoter Group Category.
The clarification addresses an inadvertent interchange of figures in Point E of the Explanatory Statement. This clerical error related to the percentages of post-issue offer capital for Aks Buildcon Private Limited and Hi-tech Agrovision Private Limited, which has now been rectified.
As per the corrected details of the Notice of Postal Ballot dated May 28, 2026, the status and allocation figures for the proposed allottees are as follows:
| S/N | Name of Proposed Allottee(s) | Current Status | No. of Fully Convertible Warrants | % of the Post Issue Offer Capital | Proposed Status |
|---|---|---|---|---|---|
| 1 | Mr. Vipul Bansal | Promoter Group | 20,00,000 | 0.94 | Promoter Group |
| 2 | Aks Buildcon Private Limited | Promoter Group | 40,00,000 | 1.89 | Promoter Group |
| 3 | Hi-tech Agrovision Private Limited | Promoter Group | 30,00,000 | 1.41 | Promoter Group |
The company further confirmed that the calculation of Post Pref-Holding assuming full Conversion within Point Q of the Explanatory Statement remains accurate. This calculation, pertaining to AKS Buildcon Pvt Ltd and Hitech Agrovision Pvt Ltd, is detailed below:
| Entity | Key Stakeholders | Warrants Allotted | % Percentage |
|---|---|---|---|
| AKS Buildcon Pyt Ltd | Mr. Ajay Kumar Bansal, Mr Anish Bansal | 8520000 | 4.19 |
| Hitech Agrovision Pvt. Ltd | Mr. Ajay Kumar Bansal, Mr Anish Bansal | 81.60,000 | 4.02 |
Hi-Tech Pipes Limited stated that apart from the correction in Point E of the Explanatory Statement, there are no other changes to the information provided in the Notice read with the Corrigendum thereto.
HITECH Stock Price Movement
Shares of Hi-Tech Pipes Limited slipped today, settling at ₹86.15 after trading down 1.92%. The equity saw a daily range between ₹85.76 and ₹88.87, with a total traded volume of 754,829 shares reported for the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.