Epic Energy Allots 1.98 Lakh Shares via Warrant Conversion

The Board of Directors had allotted convertible warrants on a preferential basis to promoters and non-promoters on March 24, 2026.
This allotment was made pursuant to shareholder approval obtained in the Extra-Ordinary General Meeting held on December 18, 2025.

Warrant holders have paid the balance consideration amounting to ₹74,25,000 for exercising conversion rights.
The Board of Directors, in its meeting held on August 21, 2026, has allotted 1,98,000 equity shares of face value ₹10 each to warrant holders.
The board meeting commenced at 01:15 p.m. and concluded at 01:50 p.m.

Total Warrants Originally Allotted: 38,00,000 warrants (March 24, 2026)

Warrants Converted: 1,98,000 warrants

Warrants Outstanding for Conversion: 28,68,668 warrants

Issue Price per Equity Share: ₹50 (including premium of ₹40 per share)

Promoter Allottees:

Nikhil Champaklal Morsawala: 66,000 equity shares allotted (from 6,00,000 warrants originally allotted; 3,34,000 warrants remaining)
Veena Nikhil Morsawala: 66,000 equity shares allotted (from 6,00,000 warrants originally allotted; 3,34,000 warrants remaining)

Non-Promoter Allottees:

Rajeev Jagannath Anand: 33,000 equity shares allotted (from 1,00,000 warrants originally allotted; 33,667 warrants remaining)
Sahil Raman Anand: 33,000 equity shares allotted (from 1,00,000 warrants originally allotted; 33,667 warrants remaining)

Warrant Holders Who Did Not Convert in This Tranche:

Soleos Solar Energy Pvt. Ltd.: 0 shares allotted (20,00,000 warrants originally allotted; 18,66,667 warrants remaining)
Nikhil Vinod Pandya: 0 shares allotted (1,00,000 warrants originally allotted; 66,667 warrants remaining)
Bhalchandra Ramrao Kadam: 0 shares allotted (1,00,000 warrants originally allotted; 66,667 warrants remaining)
Keki M. Mistry: 0 shares allotted (50,000 warrants originally allotted; 33,333 warrants remaining)
Sanjay Agarwal: 0 shares allotted (1,50,000 warrants originally allotted; 1,00,000 warrants remaining)

Warrants were originally allotted at an issue price of ₹50 per warrant.
Conversion required payment of ₹12.5 per warrant (25% of issue price) initially, followed by ₹37.5 per warrant (75% of issue price) for conversion.
The current conversion of 1,98,000 warrants occurred upon receipt of the balance amount of ₹37.5 per warrant, aggregating to ₹74,25,000.

The allotted equity shares will be in dematerialized form.
The new shares will rank pari passu with existing equity shares of the company in all respects.