National Stock Exchange of India Ltd. Exchange Plaza, C-1, Block- G Bandra Kurla Complex, Bandra (East), Mumbai- 400 051 Stock code: PIIND Inspired by Science February 19, 2020 Gurugram BSE Limited Corporate Relationship Deptt. PJ Towers, 25th Floor, Dalal Street, Mumbai - 400 001 Stock Code: 523642 Sub: Approval of the Members to be accorded by way of Postal Ballot/ e-voting in accordance with the provisions of Section 110 of the Companies Act, 2013 read with Rules 20 and 22 of the Companies (Management and Administration) Rules, 2014. Dear Sir, Further to our communication dated February 12, 2020 w.r.t approval of Board of Directors ("Board") for raising of funds and pursuant to Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, please find herewith a copy of the postal ballot notice dated February 12, 2020 issued together with explanatory statement thereto, to all members whose names appear in the register of members/ beneficial owners as on February 14, 2020, in accordance with the provisions of Section 110 of the Companies Act, 2013 read with the Rule 20 and 22 of the Companies (Management and Administration) Rules, 2014 seeking approval of the Members by way of Special resolution for raising of funds in one or more tranches, by issuance of equity shares and/or other eligible securities by way of Qualified Institutions Placement(s) (QIP) for an amount not exceeding Rs. 2,000 crore(s) (Rupees Two Thousand Crores) only. The Company has appointed Mr. Ashish Kumar Friends, Practicing Company Secretary, (FCS No. 5129, CP No . 4056), Proprietor, M/s A.K Friends & Co., Company Secretaries, Delhi as Scrutinizer for the purpose of Postal Ballot. The Company has also engaged the services of NSDL for providing e-voting facility to enable members to cast their votes electronically. The voting period commences on February 23, 2020 from 9:00AM and ends on Monday, March 23, 2020 at 5:00PM. The Result of the Postal Ballot shall be declared on Tuesday, March 24, 2020. A certified true copy ofthe postal ballot notice dated February 12, 2020 issued to Members for seeking their assent/dissent to the resolution is enclosed for the information of the Exchange(s). Copy of aforesaid notice is being uploaded on the website of the company (www.piindustries.com) and also available on NSDL website. Kindly take the same on record . Naresh Kapoor \ Company Secretal\t ACS-11782 Encl: Copy of Postal ballot notice PI Industries Ltd. Two Horizon Center, 28-1601, 16th Floor, Golf Course Road , DLF Phase-V, Sector- 43, Gurgaon- 122002 Haryana (India), Tel.: +91124 6790200, Fax: +91124 6790099 Regd . Off.: Udaisagar Road, Udaipur- 313001, Rajasthan (India) Tel. : +91294 2492451-55, Fax:+ 91294 2491946, 2491384 Email: [email protected], www.piindustries.com, CIN: L24211RJ1946PLCDDD469
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National Stock Exchange of India Ltd. Exchange Plaza, C-1, Block- G Bandra Kurla Complex, Bandra (East), Mumbai- 400 051
Sub: Approval of the Members to be accorded by way of Postal Ballot/ e-voting in accordance with the provisions of Section 110 of the Companies Act, 2013 read with Rules 20 and 22 of the Companies (Management and Administration) Rules, 2014.
Dear Sir,
Further to our communication dated February 12, 2020 w.r.t approval of Board of Directors ("Board") for raising of funds and pursuant to Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, please find herewith a copy of the postal ballot notice dated February 12, 2020 issued together with explanatory statement thereto, to all members whose names appear in the register of members/ beneficial owners as on February 14, 2020, in accordance with the provisions of Section 110 of the Companies Act, 2013 read with the Rule 20 and 22 of the Companies (Management and Administration) Rules, 2014 seeking approval of the Members by way of Special resolution for raising of funds in one or more tranches, by issuance of equity shares and/or other eligible securities by way of Qualified Institutions Placement(s) (QIP) for an amount not exceeding Rs. 2,000 crore(s) (Rupees Two Thousand Crores) only.
The Company has appointed Mr. Ashish Kumar Friends, Practicing Company Secretary, (FCS No. 5129, CP No. 4056), Proprietor, M/s A.K Friends & Co., Company Secretaries, Delhi as Scrutinizer for the purpose of Postal Ballot. The Company has also engaged the services of NSDL for providing e-voting facility to enable members to cast their votes electronically. The voting period commences on February 23, 2020 from 9:00AM and ends on Monday, March 23, 2020 at 5:00PM. The Result of the Postal Ballot shall be declared on Tuesday, March 24, 2020.
A certified true copy ofthe postal ballot notice dated February 12, 2020 issued to Members for seeking their assent/dissent to the resolution is enclosed for the information of the Exchange(s). Copy of aforesaid notice is being uploaded on the website of the company (www.piindustries.com) and also available on NSDL website.
Kindly take the same on record .
Naresh Kapoor ~ ~ \ Company Secretal\t ACS-11782 Encl: Copy of Postal ballot notice
(b) In case of Shareholders receiving Postal Ballot Form in Physical Form:
(i) Initial password is provided at the bottom of the Postal Ballot Form.
(ii) Please follow all steps from Sl. No. (ii) to Sl. No. (xii) above, to cast vote.
(c) In case of any queries, you may refer the Frequently Asked Questions (FAQs) for Shareholders and e-voting user manual
for Shareholders available at the Downloads section of www.evoting.nsdl.com or call on toll free no.: 1800-222-990.
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CERTIFIED TRUE COPY For PI INDUSTRIES LTD.
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(d) If you are already registered with NSDL fore-voting then you can use your existing user ID and password for casting your
vote.
(e) Members who forgot the User Details/ Password can use "Forgot User Details/Password?" or "Physical User Reset
Password?" option available.
EXPLANATORY STATEMENT PURSUANT TO SECTION 102 OF THE COMPANIES ACT, 2013
As required by Section 102 of the Companies Act, 2013, the following explanatory statement sets out all the material facts
relating to the business mentioned.
Item No.1
The Company recognizes significant growth opportunities in the area of its operations and adjacencies and continues to
evaluate such avenues for organic and inorganic growth. The Company proposes to raise capital for the purposes of funding
some of these growth opportunities, other long-term capital requirements, investments in subsidiary(ies), joint venture(s) and
affiliate(s), general corporate requirements, pre-payment and I or repayment of outstanding borrowings, and I or any other
purposes, as may be permissible under the applicable law and approved by the board of directors of the Company ("Board") I its duly constituted committee.
In line with the above, the Company proposes to raise funds through the issuance of equity shares of face value of Re. 1/- each
of the Company ("Equity Shares") and/ or non-convertible debentures along with warrants and/or securities convertible into
Equity Shares (the Equity Shares and all such other securities are hereinafter collectively referred to as the "Securities") for an
aggregate consideration of up to Rs. 2,000 crore(s) only (Rupees Two Thousand Crores Only) to qualified institutional buyers
(as defined under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations,
2018, as amended ("SEBI ICDR Regulations")), whether they are holders or not, for cash, in one or more tranches through
one or more qualified institutions placements ("QIP"), in terms of (a) the SEBI ICDR Regulations; (b) applicable provisions of
the Companies Act, 2013 and the applicable rules made thereunder (including the Companies (Prospectus and Allotment of
Securities) Rules, 2014 and the Companies (Share Capital and Debentures) Rules, 2014), each including any amendment(s),
statutory modification(s), or re-enactment(s) thereof ("Companies Act"); and (c) other applicable law including the Securities
and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008, as amended. Accordingly, the Board, at
its meeting held on February 12, 2020, subject to the approval of the members of the Company, approved the issuance of
Securities at such price and on such terms and conditions as may be deemed appropriate by the Board/its duly constituted
committee at its sole and absolute discretion, taking into consideration market conditions and other relevant factors and
wherever necessary, in consultation with the book running lead manager(s) and I or other advisor(s) appointed in relation to
the QIP, in accordance with applicable laws, and subject to regulatory approvals (as necessary). The securities alloted will be
listed and traded on stock exchange(s) where equity shares of the company are currently listed, subject to obtaining necessary
approvals. The offer, issue, allotment of the Securities, shall be subject to obtaining of regulatory approvals, if any by the
Company.
In terms of Section 62(1)(c) of the Companies Act, 2013, shares may be issued to persons who are not the existing shareholders
of a company, if the Company is authorised by a special resolution passed by its members.
Therefore, consent of the members is being sought for passing the special resolution, pursuant to applicable provisions of the
Companies Act and other applicable law.
The Securities offered, issued, and allotted by the Company pursuant to the QIP in terms of the resolution would be subject to
the provisions of the memorandum of association and articles of association of the Company and any Equity Shares that may
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be created, offered, issued and allotted by the Company shall rank, in all respects, pari-passu with the existing Equity Shares
of the Company.
The pricing of the Securities shall be determined in accordance with the relevant provisions of the SEBI ICDR Regulations, the
Companies Act, and any other applicable law. The resolution enables the Board/its duly constituted committee, in accordance
with applicable law, to offer a discount of not more than 5% or such percentage as may be permitted under applicable law on
the floor price determined in accordance with the SEBIICDR Regulations.
The 'relevant date' for the purpose of the pricing of the Securities to be issued and allotted in the proposed QIP shall be decided
in accordance with the applicable provisions of the SEBIICDR Regulations, which shall be the date of the meeting in which the
Board I its duly constituted committee decides to open the QIP, which shall be subsequent to receipt of members' approval
in terms of provisions of Companies Act, 2013 and other applicable laws, rules, regulations and guidelines in relation to the
proposed issue of the Equity Shares.
The resolution proposed is an enabling resolution and the exact price, proportion and timing of the issue of the Securities
in one or more tranches and the remaining detaiied terms and conditions for the QIP will be decided by the Board I its duly
constituted committee, in accordance with the SEBI ICDR Regulations, in consultation with book running lead manager(s)
and I or other advisor(s) appointed in relation to the QIP and such other authorities and agencies as may be required to be
consulted by the Company. Further, the Company is yet to identify the investor(s) and decide the quantum of Securities to be
issued to them. Hence, the details of the proposed allottees, percentage of their post- QIP shareholding and the shareholding
pattern of the Company are not provided . The proposal, therefore, seeks to confer upon the Board I its duly constituted
committee the absolute discretion and adequate flexibility to determine the terms of the QIP, including but not limited to the
identification of the proposed investors in the QIP and quantum of Securities to be issued and allotted to each such investor,
in accordance with the provisions of the SEBIICDR Regulations, the Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) Regulations, 2015, as amended; the Companies Act, 2013; the Foreign Exchange Management
Act, 1999 and the regulations made thereunder, including the Foreign Exchange Management (Non-debt Instruments) Rules,
2019, the Consolidated FDI Policy issued by the Department for Promotion of Industry & Internal Trade, Ministry of Commerce
and Industry, Government of India from time to time, each as amended; and other applicable law.
The approval of the members is being sought to enable the Board I its duly constituted committee, to decide on the issuance
of Securities, to the extent and in the manner stated in the special resolution, as set out in item no. 1 of this notice, without the
need for any fresh approval from the members of the Company in this regard.
None of the directors or key managerial personnel of the Company, or their respective relatives, is concerned or interested,
financially or otherwise, except their shareholding, if any, in the Company, in the resolution set out at Item No. 1 of the Notice.
The proposed QIP is in the interest of the Company and the Board recommends the resolution set out at item no. 1 of the notice
for the approval of the members as a special resolution.
2. Name & Registered address of the Sole/ First named Member/ Beneficial Owner (in block Letters)
3. Name of the joint Members(s), if any
4. I. Registered Folio No.
II. a) DP ID No.*
b) Client ID No.* (* Applicable to investors holding Shares in dematerialized form)
5. Number of equity shares held
POSTAL BALLOT FORM Serial No .......... ............. .
6. 1/We hereby exercise my/our vote in respect of the Resolutions to be passed through postal ballot for the business stated in the notice of the Company dated February 12, 2020 by conveying my/our assent or dissent to the said Resolutions by placing the tick (v) mark at the appropriate box below:
Item Description No. of I I We assent to 1/ We dissent to No. shares the Resolution the Resolution
(FOR) (AGAINST)
1. To approve raising of funds in one or more tranches, by issuance of equity shares and/or other eligible securities by way of Qualified Institutions Placement(s) (QIP) for an amount not exceeding Rs . 2,000 crore(s).
Place: Date: (Signature of the Shareholder(s))
ELECTRONIC VOTING PARTICULARS
EVEN (Electronic Voting Event Number) USERID PASSWORD
Note: Last date for receipt of Postal Ballot Forms by the Scrutinizer is March 23, 2020. PLEASE READ CAREFULLY THE INSTRUCTIONS PRINTED OVERLEAF BEFORE EXERCISING THE VOTE.
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CERTIFIED TRUE COPY For PI INDUSTRIES LTD.
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INSTRUCTIONS
1. A member desiring to exercise vote by postal ballot may complete this Postal Ballot Form and send it to the Scrutinizer of the Company in the attached self-addressed business reply envelope. Postage will be borne and paid by the Company. However, envelopes containing Postal Ballot Form(s), if deposited in person or sent by courier or registered/ speed post at the expense of the shareholder will also be accepted.
2. This Form should be completed and signed by the Shareholder (as per the specimen signature registered with the Company/Depository Participants). In case of joint holding, this Form should be completed and signed by the first named Shareholder and in his absence, by the next named Shareholder.
3. Duly completed Postal Ballot Form should reach the Scrutinizer of the Company on or before the close of working hours i.e. 5:00pm on Monday, March 23, 2020. All Postal Ballot Form(s) received after this date will be strictly treated as if reply from such Shareholder(s) has not been received.
4. There will be only one Postal Ballot Form for every folio irrespective of the number of joint Shareholder(s).
5. In case of shares held by companies, trusts, societies etc. the duly completed Postal Ballot Form should be accompanied by a Board Resolution/Authority Letter.
6. Shareholders are requested not to send any other paper along with the Postal Ballot Form in the enclosed self-addressed business reply envelope, as all such envelopes will be sent to the Scrutinizer and any extraneous paper found in such envelope would be destroyed by the Scrutinizer and the Company would not be able to act on the same.
7. A Shareholder need not use all the votes or cast all the votes in the same way.
8. Incomplete, unsigned or incorrect Postal Ballot Forms will be rejected. The Scrutinizer's decision on the validity of a postal ballot will be final and binding.
9. The Company is pleased to offer e-voting facility as an alternate, to all the Members of the Company, to enable them to cast their votes electronically instead of dispatching Postal Ballot Form. E-voting is optional.
PROCEDURE/INSTRUCTIONS FORE-VOTING:
The instruction for the shareholders fore-voting are as under:
(a) In case of Shareholders receiving e-mail from NSDL:
(i) Open e-mail and open the PDF file viz, "PI lndustries.pdf" with your client ID or Folio No. as password. The said PDF file contains your user ID and password fore-voting. Please note that the password is an initial password;
(ii) Launch internet browser by typing the following URL: https:l/www.evoting.nsdl.com/
(iii) Click on Shareholder- Login;
(iv) Insert user ID and password as initial password noted in step (i) above. Click Login;
(v) Password change menu appears. Change the password with the new password of your choice with minimum 8 digits/ characters or combination thereof. Note the new password. It is strongly recommended not to share your password with any other person and take utmost care to keep your password confidential;
(vi) Home Page of e-voting opens. Click one-voting: Active e-voting Cycles;
(vii) Select "EVEN" (e-voting event number) of "PI Industries Limited";
(viii) Now you are ready fore-voting as Cast Vote page opens;
(ix) Cast your vote by selecting appropriate option and click on "Submit" and also "Confirm" when prompted;
(x) Upon confirmation, the message "Vote cast successfully "will be displayed;
(xi) Once you have voted on the resolution, you will not be allowed to modify your vote;
(xii) For the votes to be considered valid, the Institutional shareholders (other than individuals, HUF, NRI etc.) are required to send scanned copy (PDF/JPG Format) of the relevant Board Resolution /Authority Letter etc. to the Scrutinizer through e-mail at [email protected] with a copy marked to [email protected]
(b) In case of Shareholders receiving Postal Ballot Form in Physical Form:
(i) Initial password is provided at the bottom of the Postal Ballot Form.
(ii) Please follow all steps from Sl. No. (ii) to Sl. No. (xii) above, to cast vote.
(iii) In case of any queries, you may refer the Frequently Asked Questions (FAQs) for Shareholders and e-voting user manual
for Shareholders available at the Downloads section of www.evoti ng.nsdl.com or call on toll free no.: 1800-222-990.
(iv) If you are already registered with NSDL fore-voting, then you can use your existing user ID and password for casting your vote.
(v) Members who forgot the User Details/ Password can use "Forgot User Details/Password?" or "Physical User Reset Password?" option available.