Atmastco Ltd Schedules Extraordinary General Meeting on June 06, 2026 to Approve Capital Raise of ₹144.40 Crores

Atmastco Ltd has announced its 1st Extraordinary General Meeting (EGM) scheduled for Saturday, June 06, 2026, at 12:30 P.M. IST, to be conducted through Video Conferencing/Other Audio-Visual Means (VC/OAVM) in compliance with circulars issued by the Ministry of Corporate Affairs (MCA) and SEBI. The EGM notice was filed with the National Stock Exchange of India Limited on May 14, 2026, by Company Secretary & Compliance Officer Rajendra Biswal. Shareholders recorded in the Register of Members or Register of Beneficial Owners as on the cut-off date of Saturday, May 30, 2026, will be eligible to participate and vote.

Key Agenda Items at a Glance

The EGM has been convened to transact three items of special business, each requiring shareholder approval under the Companies Act, 2013 and SEBI (LODR) Regulations, 2015.

Agenda Item: Details Item No. 1 Increase in Authorised Share Capital and alteration of Memorandum of Association Item No. 2 Preferential issue of 35,00,000 equity shares aggregating up to ₹53,20,00,000 Item No. 3 Issue of 60,00,000 convertible warrants aggregating up to ₹91,20,00,000 Combined Issue Size ₹144.40 Crores

Increase in Authorised Share Capital

The Board of Directors, at its meeting held on May 13, 2026, approved a proposal to increase the authorised share capital of the company. The existing authorised share capital of Rs. 25,00,00,000 (Rupees Twenty-Five Crore only), divided into 2,50,00,000 equity shares of Rs. 10 each, is proposed to be increased to Rs. 35,00,00,000 (Rupees Thirty-Five Crore only), divided into 3,50,00,000 equity shares of Rs. 10 each. Consequently, Clause V of the Memorandum of Association will be amended to reflect the revised capital structure. This increase is intended to facilitate the company's future growth plans, expansion activities, and further capital raising.

Preferential Issue of Equity Shares

The company proposes to issue up to 35,00,000 (Thirty-Five Lakhs Only) fully paid-up equity shares of face value ₹10.00 each at a price of ₹152/- per share, including a premium of Rs. 142/-, aggregating up to ₹53,20,00,000/- (Rupees Fifty-Three Crores Twenty Lakhs Only). The issue is proposed to 36 allottees comprising promoter and non-promoter/public categories. The relevant date for floor price determination is Thursday, May 07, 2026, being 30 days prior to the EGM date. The floor price computed under SEBI ICDR Regulations is Rs. 151.38/- per equity share, being the higher of the 90-trading-day VWAP of Rs. 135.98/- and the 10-trading-day VWAP of Rs. 151.38/-. Key allottees under this issue are detailed below.

Sr. No.: Name of Proposed Allottee Category Shares to be Allotted Consideration (in ₹) 1. Subramaniam Swaminathan Iyer Promoter 2,00,000 3,04,00,000.00 2. Raasha Fincap Private Limited Non-Promoter/Public 4,95,000 7,52,40,000.00 3. Samir Arvind Thakker Non-Promoter/Public 3,00,000 4,56,00,000.00 4. Bipin Raval Non-Promoter/Public 3,39,000 5,15,28,000.00 5. Sangita Tundiya Non-Promoter/Public 2,69,000 4,08,88,000.00 6. Smita Sachin Abhyankar Non-Promoter/Public 2,00,000 3,04,00,000.00 7. Belgrave Investment Fund Non-Promoter/Public 2,00,000 3,04,00,000.00 ... Other allottees (29 entities) Non-Promoter/Public Various Various Total 35,00,000 53,20,00,000.00

Issue of Convertible Warrants

In addition to the equity share issue, the company proposes to issue up to 60,00,000 (Sixty Lakhs Only) convertible warrants, each convertible into one fully paid-up equity share of face value ₹10.00, at a price of Rs. 152/- per warrant (including a premium of Rs. 142/-), aggregating up to ₹91,20,00,000/- (Rupees Ninety-One Crore Twenty Lakhs Only). The warrants are exercisable in one or more tranches within 18 months from the date of allotment. A minimum of 25% of the warrant issue price, amounting to Rs. 22,80,00,000, is payable at the time of subscription, with the remaining 75%, amounting to Rs. 68,40,00,000, payable at the time of exercise. The proposed allottees for the warrant issue are as follows.

Sr. No.: Name of Proposed Allottee Category Warrants to be Allotted Consideration (in ₹) 1. Subramaniam Swaminathan Iyer Promoter 18,00,000 27,36,00,000 2. Pine Oak Global Fund Non-Promoter/Public 32,00,000 48,64,00,000 3. Jinisha Dhaval Kothari Non-Promoter/Public 2,00,000 3,04,00,000 4. Poonam Tapadia Non-Promoter/Public 2,00,000 3,04,00,000 5. Pratik Rajnikant Shah (HUF) Non-Promoter/Public 2,00,000 3,04,00,000 6. Akash Tapadia Non-Promoter/Public 1,50,000 2,28,00,000 7. Prateek Tapadia Non-Promoter/Public 1,50,000 2,28,00,000 8. Sharad Tapadiya Non-Promoter/Public 50,000 76,00,000 9. Kanhav Advisory Private Limited Non-Promoter/Public 50,000 76,00,000 Total 60,00,000 91,20,00,000

Utilisation of Issue Proceeds

The combined proceeds from both the equity shares and convertible warrants, totalling ₹144.40 Crores, are proposed to be deployed as outlined below. Infomerics Valuation and Rating Ltd (Formerly Infomerics Valuation & Rating Pvt Ltd.) has been appointed as the Monitoring Agency for utilisation of proceeds, as the issue size exceeds Rs. 100 Crore.

S. No.: Particulars Amount (In Crores) Tentative Timeline 1. Working Capital for Defence 77.98 Crores 24 Months from receipt of funds 2. Working Capital for EPC and Fabrication 51.98 Crores — 3. General Corporate Purpose 14.44 Crores — Total 144.40 Crores

Shareholding Pattern and E-Voting Details

The pre-issue promoter and promoter group holding stands at 1,63,58,770 shares, representing 66.14% of the total paid-up capital as on March 31, 2026. Post the full subscription of 35,00,000 equity shares and full conversion of 60,00,000 warrants, the promoter holding is expected to be 1,83,58,770 shares, representing 53.62%, while total public shareholding is expected to rise to 1,58,75,920 shares, representing 46.38%. The company has confirmed that there shall be no change in control or management consequent to the preferential issue. The remote e-voting window opens on Wednesday, June 03, 2026 (9:00 A.M. IST) and closes on Friday, June 05, 2026 (5:00 P.M. IST), with NSDL serving as the e-voting platform. The scrutinizer for the process is Rawal & Co., Proprietor Vivek Rawal, Practicing Company Secretary (CP No. 22687, Membership No. 43231).

Atmastco Limited has announced that its wholly owned subsidiary, Atmastco Defence Systems Private Limited, has received Bureau of Indian Standards (BIS) 17051 2018 certification for Level 6 Bulletproof Jackets. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Following the receipt of this certification, the company is set to commence commercial production of the certified bulletproof jackets.

BIS Certification: A Key Milestone

The BIS 17051 2018 certification affirms that Atmastco Defence Systems' Level 6 Bulletproof Jackets meet the stringent quality and safety standards prescribed under Indian regulations. The key details of this development are outlined below:

Parameter: Details Certifying Body: Bureau of Indian Standards (BIS) Certification Standard: BIS 17051 2018 Product Certified: Level 6 Bulletproof Jackets Entity Receiving Certification: Atmastco Defence Systems Private Limited Relationship to Listed Entity: Wholly Owned Subsidiary of Atmastco Limited Disclosure Regulation: Regulation 30, SEBI (LODR) Regulations, 2015 Announcement Date: May 11, 2025

This achievement is described by the company as a significant milestone in its growth trajectory, reinforcing its commitment to delivering high-quality, standards-compliant defence equipment to the Indian market and beyond.

Strengthening Defence Manufacturing Credentials

The certification is expected to enhance Atmastco Defence Systems' credibility with institutional buyers, government agencies, and international partners. The company is focused on the design, development, and manufacturing of advanced defence and protective solutions, and continues to invest in quality, compliance, and innovation to meet the evolving demands of the defence sector.

Management Commentary

Commenting on the development, the management stated:

"Receiving BIS certification for Level 6 bulletproof jackets is a major achievement for Atmastco Defence Systems. It reflects our technical capabilities, adherence to rigorous quality standards, and commitment to excellence in defence manufacturing. We are now focused on expanding our product offerings and market presence."

About Atmastco Defence Systems

Atmastco Defence Systems Private Limited is a wholly owned subsidiary of Atmastco Limited, headquartered in Bhilai, Chhattisgarh. The company is engaged in the design, development, and manufacturing of advanced defence and protective solutions. Atmastco Limited is an ISO 9001:2015, 14001:2015, and 45001:2018 certified quality-assured company.

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