Background Reference

The company refers to its earlier intimation dated 24th October, 2025, wherein it had allotted 95,00,000 convertible warrants to three allottees by way of preferential allotment on a private placement basis upon receipt of 25% of Total Consideration Amount:

  • Antique Private Limited (Non-Promoter): 75,00,000 warrants for ₹179,62,50,000
  • Mr. Krishna Kumar Karwa (Promoter): 12,50,000 warrants for ₹29,93,75,000
  • Mr. Prakash Kacholia (Promoter): 7,50,000 warrants for ₹17,96,25,000
  • Total: 95,00,000 warrants for ₹227,52,50,000

Current Allotment Details

The Management Committee of the Company at its Meeting held on 29th July, 2026 approved the allotment of 1,00,000 equity shares of face value of ₹10 each to Mr. Prakash Kacholia, Promoter of the Company. This allotment was made pursuant to the conversion of 1,00,000 warrants into equity shares upon payment of the balance subscription amount of ₹179.625 per warrant (75% of the Total Consideration Amount).

Capital Structure Impact

The issued, subscribed and paid-up capital of the Company has increased from ₹27,52,55,800 divided into 2,75,25,580 Equity Shares to ₹27,62,55,800 divided into 2,76,25,580 Equity Shares of face value of ₹10 each.

Share Rights

The equity shares allotted on conversion of the warrants shall rank pari-passu in all respects with the existing equity shares of the Company, including dividend, if any.

Cumulative Allotment History

Till date, the Company has allotted 17,00,000 equity shares of ₹10 each to the following allottees upon receipt of 75% of total consideration amount:

  • Mr. Krishna Kumar Karwa (Promoter): 12,50,000 shares allotted in multiple tranches between 12th December, 2025 and 12th May, 2026
  • Mr. Prakash Kacholia (Promoter): 4,50,000 shares allotted in multiple tranches between 30th April, 2026 and 29th July, 2026

Meeting Details

The Meeting of the Management Committee commenced at 11:30 A.M. (IST) and concluded at 12:00 P.M. (IST) on 29th July, 2026.

Annexure I Details

  • Type of securities: Fully paid-up equity shares upon conversion of convertible warrants
  • Type of issuance: Allotment of Equity shares pursuant to exercise of warrants issued on preferential basis
  • Total number of securities: 1,00,000 equity shares of face value of ₹10 each
  • Investor details: Mr. Prakash Kacholia (Promoter) allotted 1,00,000 shares
  • Issue price: ₹239.50 per equity share
  • Number of investors: 1 (one)
  • Consideration per warrant: ₹239.50 per warrant

Annexure II - Ownership Changes

For Mr. Prakash Kacholia:

  • Pre-allotment: 51,00,000 equity shares (18.53% shareholding)
  • Allotment: 1,00,000 equity shares (pursuant to warrant exercise)
  • Post-allotment: 52,00,000 equity shares (18.82% shareholding)