Summary of Key Information:

Reporting Period (Quarter/Year): Not Specified

Nature of Filing / Announcement: Outcome of Board Meeting

Date of Board Meeting / Approval: June 18, 2026

Audit Opinion: Not Specified

Auditor’s Comment: Not Specified

Key Financial Highlights:

Standalone Results: Not Specified

Consolidated Results: Not Specified

Corporate Actions:

The Board approved raising funds by issuance of equity shares through Qualified Institutions Placement (QIP) to Qualified Institutional Buyers (QIBs) in one or more tranches. The aggregate amount shall not exceed ₹2,000 Crores (Rupees Two Thousand Crore), which is an enhancement from the previously approved limit of ₹1,000 Crores.

The Board noted that the Company is currently non-compliant with the Minimum Public Shareholding (MPS) requirements mandated under Rule 19(2)(b) and 19A of the Securities Contracts (Regulation) Rules, 1957 read with regulation 38 of the Listing Regulations. The QIP is intended to achieve full compliance with the MPS requirements at the earliest.

The Board also approved a Postal Ballot to seek shareholder approval for the issuance of equity shares and ancillary actions.

Other Significant Information:

Committee Formations/Reconstitutions:

1. A new Corporate Social Responsibility (CSR) committee was constituted with the following members:

  • Mr. Rakesh Shah - Chairperson (Non-Executive Non-Independent Director)
  • Mr. Himanshu Shah - Member (Non-Executive Non-Independent Director)
  • Mr. Maheswar Sahu - Member (Independent Director)

2. The Risk Management Committee was reconstituted with the following members:

  • Mr. Rabindra Nath Nayak - Chairperson (Independent Director)
  • Dr. Varsha Adhikari - Member (Independent Director)
  • Mr. Umesh Chhaya - Member (Senior Managerial Personnel)

3. The Management Committee of Directors was reconstituted and delegated necessary powers for the proposed QIP issuance with the following members:

  • Mr. Rakesh Shah - Chairperson (Non-Executive & Non-Independent Director)
  • Mr. Himanshu Shah - Member (Non-Executive & Non-Independent Director)
  • Dr. Varsha Adhikari - Member (Independent Director)

Meeting Timing: The Board Meeting commenced at 04:10 P.M. (IST) and concluded at 4:25 P.M. (IST).

Annexure Details: Annexure A provides details as required under Regulation 30 of Listing Regulations and SEBI Master Circular, confirming the issuance of Equity Shares via QIP for an aggregate amount not exceeding ₹2,000 Crore.