This disclosure to BSE Limited under Regulation 30 of SEBI LODR Regulations provides the revised outcome of the Board Meeting held on 10th October 2026.

Key Decisions:

1. Cancellation of Previous Warrant Issue:

  • The Board approved the cancellation/rescission of the Special Resolution passed by members at the Extra-Ordinary General Meeting held on 16th September 2026.
  • This resolution had approved the issue of 23,90,000 Convertible Equity Warrants on a preferential basis to persons belonging to the Promoter and Non-promoter/Public Category.
  • The issue price was ₹69.50 per Warrant (including a premium of ₹59.50 per Warrant), aggregating to ₹16,61,05,000.
  • The cancellation is due to the Company's decision not to proceed with this issue in view of revision in the size of the issue and the list of proposed allottees.
  • No warrants have been allotted pursuant to this cancelled resolution.

2. New Preferential Issue Proposal:

  • The Board approved a new proposal for raising funds by issuance of 15,87,100 Equity Warrants (face value ₹10 each) aggregating up to ₹1,58,71,000 on a preferential basis.
  • The warrants will be issued to Promoter and Non-promoter/Public Category investors.
  • The issue will be conducted in accordance with SEBI ICDR Regulations, 2018 and other applicable laws.
  • The issue price will be determined in accordance with SEBI ICDR Regulations pricing guidelines.
  • The proposal is subject to approval of regulatory/statutory authorities and shareholders of the Company.

Additional Details from Annexure A:

  • Type of Securities: Equity Warrants with right to apply for and get allotted one Equity Share of face value ₹10 each for each Warrant within 18 months from date of allotment.
  • Type of Issuance: Preferential allotment
  • Total Number: 15,87,100 Equity Warrants aggregating up to ₹1,58,71,000
  • Number of Investors: 18 investors
  • Conversion Terms: Option for conversion available only upon payment of full price of the Equity Warrants, convertible in one or more tranches within 18 months

Investor Details from Annexure B:

The preferential issue will be allocated to 18 investors across Promoter and Non-promoter categories:

Promoter Category (3 investors):

  • Prafullchandra Vitthalbhai Patel: 2,70,000 warrants
  • Jashvantbhai Shankarlal Patel: 90,000 warrants
  • Hiren Patel: 63,000 warrants

Non-Promoter Category (15 investors):

  • Surendra Nemchand Shah HUF: 2,25,000 warrants
  • Priyam Surendra Shah: 75,000 warrants
  • Priyam Shah (Huf): 2,01,000 warrants
  • Pooja Priyam Shah: 50,000 warrants
  • Ila Sunil Trivedi: 3,100 warrants
  • Jignaben Shah: 2,000 warrants
  • Gandhi Pakshal Bhaver: 1,500 warrants
  • Pasiben Prahladbhai Patel: 35,000 warrants
  • Prahladbhai Bhaychanddas Patel: 35,000 warrants
  • Patel Shivlal Kuberbhai: 1,50,000 warrants
  • Dilipkumar Ramjibhai Patel: 1,50,000 warrants
  • Krunal Prafulbhai Thummar: 1,50,000 warrants
  • Indu Omprakash Bhandari: 45,000 warrants
  • Sarita Shyam Sundar Nirmal: 39,000 warrants
  • Deepak Satish Mehta: 2,500 warrants

Total: 15,87,100 Equity Warrants

Next Steps:

The Company will seek members' approval for these proposals through an Extra Ordinary General Meeting to be convened in due course.

Meeting Details:

The Board meeting commenced at 4:40 PM and concluded at 6:30 PM on 10th October 2026.