Allotment of Convertible Share Warrants on Preferential Basis

The Board approved allotment of 66,00,000 (Sixty-Six Lakhs) convertible warrants at an issue price of ₹44 each on preferential basis. These warrants are convertible into 66,00,000 (Sixty-Six Lakhs) Equity Shares of face value of ₹10 each (One Equity Share for One Warrant issued).

Financial Details

  • Total consideration amount: ₹7,26,00,000 (Rupees Seven Crore Twenty-Six Lakh only)
  • The company has received the full consideration amount of ₹7,26,00,000 against the allotment
  • Issue price of ₹44 per warrant is not lower than the floor price determined in accordance with Regulation 164 of Chapter V of SEBI ICDR Regulations

Conversion Terms

  • Conversion ratio: 1:1 (each warrant convertible into 1 equity share)
  • Conversion can be exercised at any time within 18 months from the date of allotment
  • Conversion can be done in one or more tranches
  • Warrants shall lapse if not converted within the stipulated 18-month period

Allottee Details

The warrants were allotted to 9 allottees (7 promoter group members and 2 non-promoters):

| SN | Name | Category | Warrants Allotted |

| 1 | Hemant Chandravadan Bhagat | Promoter | 5,00,000 |

| 2 | Chitra Hemant Bhagat | Promoter Group | 5,00,000 |

| 3 | Pranav Hemant Bhagat | Promoter | 10,00,000 |

| 4 | Prachi Pranav Bhagat | Promoter Group | 9,50,000 |

| 5 | Mahesh C Bhagat | Promoter Group | 7,00,000 |

| 6 | Jay Hemant Bhagat | Promoter Group | 7,00,000 |

| 7 | Lopa Mahesh Bhagat | Promoter Group | 6,50,000 |

| 8 | Samir Ramakant Dave | Non-promoter | 8,00,000 |

| 9 | Chintan Vijay Makhecha | Non-promoter | 8,00,000 |

| Total | | | 66,00,000 |

Shareholding Impact

Post-allotment shareholding changes for major allottees:

  • Hemant Chandravadan Bhagat: From 35.50% to 22.47% (26,78,296 to 31,78,296 shares)
  • Chitra Hemant Bhagat: From 16.34% to 12.25% (12,33,192 to 17,33,192 shares)
  • Pranav Hemant Bhagat: From 10.10% to 12.46% (7,61,792 to 17,61,792 shares)
  • Prachi Pranav Bhagat: From 5.35% to 9.57% (4,03,600 to 13,53,600 shares)

Regulatory Approvals

The allotment was made following:

  • Special resolution passed in AGM on 1st September, 2026
  • In-Principle approval from BSE Limited dated October 12, 2026
  • Compliance with Section 62 and 42 of Companies Act, 2013
  • Compliance with SEBI ICDR Regulations, 2018

Meeting Details

The Board meeting was held on Tuesday, 22nd September, 2026, starting at 11:30 AM IST and concluding at 12:00 PM IST.

Disclosure Compliance

The disclosure is made pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015 read with SEBI Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.