DEE Development Engineers to raise funds, reclassify share capital

DEE Development Engineers' board of directors, meeting on September 19, 2025, approved a proposal to raise up to INR 300 crores. This fundraising will be achieved through the issuance of equity shares and/or other eligible securities, which may include convertible debentures, warrants, or non-convertible debentures. The issuance method could be a public issue, rights issue, preferential allotment, or private placement, including Qualified Institutions Placement(s) (QIP), across one or more tranches, subject to shareholder and regulatory approvals.

Additionally, the board approved a reclassification of the company's authorized share capital. The existing authorized share capital of INR 85,00,00,000, previously divided into 7,87,50,000 equity shares (INR 78,75,00,000) and 62,50,000 preference shares (INR 6,25,00,000), will now be reclassified into 8,50,00,000 equity shares of INR 10/- each, totaling INR 85,00,00,000. This reclassification necessitates consequential alterations to the Capital Clause of the Memorandum of Association and Articles of Association, also subject to shareholder approval.