AANCHAL ISPAT LIMITED

Nature of Disclosure: Regulatory filing pursuant to SEBI Listing Regulations 30, reporting outcomes of the Board of Directors meeting held on June 23, 2026.

Key Decisions Approved:

1. Fund Raising via Preferential Issue of Convertible Warrants

  • Approval for issuance of up to 10,55,000 Fully Convertible Warrants
  • Face value: ₹10 each
  • Issue price: ₹82 per warrant
  • Total amount: ₹8,65,10,000 (Eight Crores Sixty-Five Lakhs Ten Thousand)
  • Allottee: Mukesh Goel (Promoter category)
  • Payment: Cash consideration
  • Conversion terms: Convertible into equivalent number of equity shares at ₹82 per share
  • Conversion period: Within 18 months from date of allotment
  • Payment structure: 25% payable at subscription/allotment, balance 75% payable on exercise of warrants
  • Premium component: ₹72 per warrant (₹82 issue price - ₹10 face value)

2. Amendment to Articles of Association

  • Insertion of new Article 14(3) to authorize issuance of various convertible securities including warrants, convertible debentures, and preference shares
  • Approval mechanism: Board determination with member approval where required under applicable law

3. Extraordinary General Meeting

  • EGM convened on Thursday, July 23, 2026
  • Purpose: Seek shareholder approval for warrant issuance and Articles amendment

4. Appointment of Scrutinizer

  • Manisha Saraf & Associates, Practicing Company Secretary (CoP Number: 8207) appointed as scrutinizer
  • Role: Scrutinize e-voting process for EGM in fair and transparent manner

Conditions and Approvals Required:

  • Subject to approval of shareholders of the Company
  • Subject to approval of appropriate regulatory authorities
  • Compliance with Companies Act, 2013 and Rules thereunder
  • Compliance with SEBI (ICDR) Regulations, 2018, Chapter V

Financial and Capital Structure Impact:

  • Maximum dilution: 10,55,000 equity shares upon full conversion
  • Post-issue shareholding of Mukesh Goel: 31,79,998 shares (60.13% assuming full conversion)
  • Current holding of Mukesh Goel: 21,24,998 shares

Warrant Specific Terms:

  • Tenure: Maximum 18 months from date of allotment
  • Conversion right: 1 equity share per warrant
  • Exercise period: From allotment date until expiry of 18 months
  • Exercise flexibility: May be exercised in one or more tranches
  • Forfeiture: Unexercised warrants after 18 months shall lapse, amount paid shall be forfeited

Meeting Details:

  • Commencement: 04:40 p.m.
  • Conclusion: 05:11 p.m.

Regulatory References:

  • SEBI (LODR) Regulations, 2015 - Regulation 30
  • SEBI Circular CIR/CFD/CMD/4/2015 dated September 9, 2015
  • Companies Act, 2013 and Rules thereunder
  • SEBI (ICDR) Regulations, 2018

Additional Information:

  • Company UAN: WB10C0007296
  • GSTIN: 19AAACV8542M1ZQ
  • MSME: UDYAM-WB-08-0007012