Leading Leasing Finance and Investment Company Ltd has issued a corrigendum to its AGM notice, correcting a calculation error in the 10-day VWAP for its proposed preferential issue. Following BSE observation, the firm obtained revised valuation reports and pricing certificates from independent experts to ensure compliance with SEBI (ICDR) regulations. The proposed issuance of 35.71 crore equity shares and 70.93 crore warrants remains at Rs 1.40 per security. This update serves as a procedural correction to guarantee accurate regulatory documentation before shareholders vote at the upcoming AGM scheduled for September 26, 2026.
Leading Leasing Finance Issues AGM Corrigendum Over Pricing Calculation
10-day VWAP calculation error identified in preferential issue documentation.
Revised valuation report and pricing certificate obtained to ensure SEBI (ICDR) compliance.
Reader Takeaway: Procedural correction ensures regulatory compliance; preferential issue terms remain at Rs 1.40 per security.
What just happened
Leading Leasing Finance and Investment Company Ltd has released a corrigendum to its AGM notice originally dated August 27, 2026. The company identified an inadvertent error in the 10-day Volume Weighted Average Price (VWAP) calculation of its equity shares, which is essential for determining the floor price under SEBI (ICDR) Regulations, 2018. The BSE brought this discrepancy to the company's attention, prompting an immediate rectificatory process.
Why this matters
Accuracy in pricing calculations is a mandatory requirement for preferential issues involving non-promoters and warrants. By securing a new valuation report dated September 9, 2026, and a revised pricing certificate from S. K. Bhavsar & Co., the company aims to avoid potential regulatory hurdles during the upcoming AGM vote on September 26, 2026. Shareholders are now being asked to vote based on verified, corrected pricing data.
What changes now
The fundamental scale of the transaction remains unchanged. The company plans to issue 35,71,42,856 equity shares and 70,93,57,119 convertible warrants. The issue price of Rs 1.40 per security remains consistent, as management confirms this figure still meets the floor price requirements under the corrected calculations.
Risks to watch
Investors should review the revised documents to ensure that no underlying financial assumptions have shifted as a result of the revaluation. While the corrigendum is presented as a procedural compliance measure, shareholders should monitor the AGM for any further management commentary on the necessity of this revision.
What to track next
The primary event remains the AGM on September 26, 2026. Shareholders should look for official minutes or follow-up disclosures confirming shareholder approval of these issuances following the updated documentation.