Meeting Details

The Extra Ordinary General Meeting was held on Wednesday, 20th May, 2026, through video conferencing (VC) from the Registered Office of the Company situated at 234/3A, A. J. C. Bose Road, FMC Fortuna, 2nd Floor, Kolkata – 700020, West Bengal. The meeting commenced at 4:00 P.M. (IST) and concluded at 4:37 P.M. (IST).

Proposed Resolutions and Implications

The single special resolution sought approval for the offer, issue, and allotment of up to 93,16,771 equity shares of face value ₹1 each at a price of ₹483 per share (including a premium of ₹482 per share), raising an aggregate amount of ₹450,00,00,393. The preferential issue was intended for promoters, promoter group, and marquee investors, with funds to be utilized as specified in the Explanatory Statement.

Detailed allocation to proposed allottees:

  • Vivek Saraogi (Promoter): 24,00,000 shares (₹115,92,00,000)
  • Sumedha Saraogi (Promoter): 3,45,864 shares (₹16,70,52,312)
  • Meenakshi Mercantiles Limited (Promoter Group): 12,50,000 shares (₹60,37,50,000)
  • TATA Small Cap Fund: 20,70,393 shares (₹99,99,99,819)
  • IKIGAI Emerging Equity Fund: 4,55,485 shares (₹21,99,99,255)
  • Alchemy Long Term Ventures Fund, Series 2: 1,86,335 shares (₹8,99,99,805)
  • Alchemy Long Term Ventures Fund, Series 3: 62,111 shares (₹2,99,99,613)
  • 360 One Pipe Fund: 18,21,946 shares (₹87,99,99,918)
  • ICICI Prudential Emerging Leaders Fund - Series II: 1,03,519 shares (₹4,99,99,677)
  • ICICI Prudential Equity Opportunities Fund Series -II: 3,10,559 shares (₹14,99,99,997)
  • ICICI Prudential Alpha Opportunities Fund: 3,10,559 shares (₹14,99,99,997)

Voting Process and Methods

The Company provided remote e-voting facility through KFin Technologies Limited, with the e-voting period commencing on Sunday, 17th May, 2026 at 9:00 A.M. (IST) and ending on Tuesday, 19th May, 2026 at 5:00 P.M. (IST). Members who had not cast votes through remote e-voting were provided facility for electronic voting during the meeting, with the window remaining open till 15 minutes from the conclusion of the proceedings.

Key Voting Outcomes

The voting results based on the Consolidated Scrutinizer's Report dated 21st May, 2026:

  • Total valid votes cast: 339 (157,157,518 votes)
  • Votes in favor: 329 (157,118,067 votes) - 99.97%
  • Votes against: 10 (39,451 votes) - 0.03%
  • Abstain/Invalid votes: 1 (1 vote)

Breakdown by voting method:

  • Remote e-voting: 328 members (157,150,540 votes)
  • E-voting during EGM: 11 members (6,978 votes)

The resolution was passed with requisite majority and deemed passed on 20th May, 2026.

Scrutinizer's Role and Findings

CS Mohan Ram Goenka, Partner of M/s. MR & Associates, Practicing Company Secretaries (FCS No.: 4515 / C.P. No.: 2551), was appointed as the Scrutinizer to scrutinize the remote e-voting and e-voting process in a fair and transparent manner. The Scrutinizer submitted his Consolidated Report to the Company Secretary on 21st May, 2026.

Compliance with Laws and Regulations

The resolution was passed in compliance with the provisions of the Companies Act, 2013 and relevant rules, SEBI ICDR Regulations, SEBI Listing Regulations, SEBI Takeover Regulations, FEMA regulations, and circulars issued by MCA (including Circular No. 14/2020, 17/2020, 20/2020, and General Circular No. 03/2025) and SEBI (Circular No. SEBI/HO/CFD/PoD-2/P/CIR/2024/133 dated October 3, 2024).

Additional Information

The voting rights were reckoned as on 12th May, 2026 (cut-off date). The results were submitted to BSE Limited and National Stock Exchange of India Limited within two working days and placed on the Company's website and KFin's website.