Outcome of BM

THE AMALGAMATED ELECTRICITY COMPANY LIMITED Regd. Office: G-1, Ground Floor, Nirmal Nest CHSL, Vayu Devta Mandir Complex, Borivali (W), Mumbai 400103. BSE Limited October 01, 2026 Department of Corporate Affairs Floor No.25, Phiroze Jeejeebhoy Towers, Dalal Street, MUMBAI-400 001 Telephone: 22721234 Dear Sirs, Subject: OUTCOME OF BOARD MEETING OF AMALGAMATED ELECTRICITY COMPANY LIMITED HELD ON October 01, 2026 REFERENCE: REGULATION 30, SEBI (LISTING OBLIGATIONS AND _ DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 This is to inform you that the Board of Directors of the Company at its Meeting held today, i.e. October 01, 2026, considered the following. 1. Approved the Change of Object Clause of the Company in addition to the existing objects Considered and approved alteration of object clause of memorandum of association of the company, subject to necessary approvals more particularly described in the annexure in addition to the existing objects. The details required under Regulation 30 read with Part A of Schedule III of the SEBI (LODR) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November, 2024 is given in the enclosed Annexure-I 2. To consider and approve the proposal for issuance of equity shares of the company to certain identified persons / entity on preferential basis: consider and Re approve the proposal for issuance of equity shares of the company to certain identified persons / entity on preferential basis: Considered and decided to Issue upto 130,00,00,000 Equity Shares of Rs.5/- each at issue price of Rs. 5/- each at par, aggregating up to Rs. 650,00,00,000/- (“Total issue Size of Equity") to certain identified non-promoter investors on a preferential basis for cash (as listed in Annexure A) in accordance with the provisions of Section 42 and Section 62 of the Companies Act, 2013, as amended ("Act") read with Companies (Prospectus and Allotment of Securities) Rules, 2014, and Companies (Share Capital and Debentures) Rules, 2014 as amended ("Rules"), Chapter V of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, SEBI (LODR) Regulations, 2015 and such other acts / rules / regulations as may be applicable and subject to necessary approval of the members of the Company under regulation 170 (2) of SEBI ICDR Regulation and other regulatory authorities. The details required under Regulation 30 read with Part A of Schedule III of the SEBI (LODR) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November, 2024 is given in the enclosed Annexure II. THE AMALGAMATED ELECTRICITY COMPANY LIMITED Regd. Office: G-1, Ground Floor, Nirmal Nest CHSL, Vayu Devta Mandir Complex, Borivali (W), Mumbai 400103. 3. Approved the Resignation of MR. MANGESH NARAYAN SHIRODKAR, Chief Financial officer of the Company. 4. Approved the draft Notice of Postal Ballot of the Company. 5. Decided to approve the conducting of the Postal Ballot process of the Company, with the last date for casting votes (remote e-voting) fixed as 31st October, 2026. 6. Appointed Ms. Anushree Keshav, [Practicing Company Secretary having Membership No. A26984 and COP No. 22816, as the Scrutinizer for conducting the Postal Ballot/e- voting process of the Company. Kindly take same on your record The meeting Started at 1:30 pm and concluded at 2.00pm For Amalgamated Electricity Company Limited Aradhana Kurup Managing Director DIN: 07957633 THE AMALGAMATED ELECTRICITY COMPANY LIMITED Regd. Office: G-1, Ground Floor, Nirmal Nest CHSL, Vayu Devta Mandir Complex, Borivali (W), Mumbai 400103. ANNEXURE I DISCLOSURE OF MATERIAL EVENT UNDER REGULATION 30(2) OF SEBI (LISTING OBLIGATION AND DISCLOUSRE REQUIREMENTS) REGULATION, 2015- SUMMARY OF AMENDMENTS TO THE MOA OF THE COMPANY Pursuant to provisions of Regulation 30(2) of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015 read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November, 2024, the Company hereby discloses the material event as provided in the Schedule III of Listing Regulations: The following objects are added in addition to the existing objects in the object clause along with ancillary objects: III (A) MAIN OBJECTS:- 1. To acquire and take over from Belgaum Electricity Co., Ltd., Bulsar Electricity Co., Ltd., and Bhiwandi Electric Supply Co.Ltd., respectively, the Belgaum Electric Licence, 1932 and Bhiwandi Permit under Section 28 granted under notification No.23 of 9-2-25 and reproduced under No.23 of 24-4-30 and the undertakings thereunder and for that purpose to enter into, execute and carry into effect the Agreements referred to in Clause No.4 of the Articles of Association of the Company or any agreements, deeds, guarantees and assurances as may be necessary or proper. 2. To generate, develop and accumulate electrical power within the areas contemplated by the Licenses and permit aforesaid and to transmit, distribute and supply such power throughout the said areas. Also to generate, develop and accumulate electrical power and transmit, distribute and supply the same at any other place or places as may be beneficial to the Company. 3. To carry on, in India or overseas, the business of manufacturers, importers, exporters, contractors, suppliers, engineers, hirers, dealers and distributors for industrial, commercial or domestic purposes, equipment, apparatus, accessories and spare parts of all kinds of electrical, electronic and wireless equipment for generation, distribution, transmission, control and utilization of electrical, atomic or any other energy, hydraulic, mechanical, pneumatic, aviation, refrigeration, air-conditioning equipment, apparatus, accessories and spare parts thereof, office equipment, wire and cables in all their branches. 4. To carry on the business of artificial intelligence and applied AI development — namely to research, design, develop, build, train, deploy, integrate, operate, license, and commercialize artificial intelligence and machine learning applications, software, platforms, models, tools, and solutions of every kind, including generative artificial intelligence, large language models and their fine-tuning and deployment, retrieval-augmented generation, natural language THE AMALGAMATED ELECTRICITY COMPANY LIMITED Regd. Office: G-1, Ground Floor, Nirmal Nest CHSL, Vayu Devta Mandir Complex, Borivali (W), Mumbai 400103. processing, computer vision, document and image intelligence, predictive and prescriptive analytics, autonomous agents, and recommendation systems, together with the creation of artificial-intelligence-driven applications across multiple fields, sectors, and industries, including (without limitation) healthcare and diagnostics, marketing and creative technology, mobility and vehicle distribution, travel, defence, education, insurance, and credit, and such other fields, sectors, and industries as the Company may from time to time determine; to operate as an in-house, full-stack technology and artificial intelligence development enterprise; and to provide artificial-intelligence-enabled shared services, including through a captive Global Capability Centre model, comprising AI strategy and use-case identification, AI model development and fine-tuning, bespoke AI application development, data engineering and platform set-up, machine learning operations (MLOps), model monitoring and evaluation, and managed AI services, whether for the Company’s own use, for deployment across its subsidiaries, associates, and investee companies, or for third-party clients including corporations, firms, individuals, non-profit organisations, governmental bodies, and agencies, both in India and abroad. To carry on the business of technology support services and IT infrastructure management of all kinds, including information technology consulting, software design and development, application development, maintenance and support, system integration, technol [Showing first 8,000 characters — download PDF for full document]