Board Meeting Details

The meeting of the Board of Directors was held on Friday, October 23, 2026, at the company's Registered Office. It commenced at 06:00 p.m. (IST) and concluded at 06:30 p.m. (IST).

Key Business Transacted

1. Fundraising via Preferential Issue: The Board considered and approved, subject to shareholder and other statutory approvals, the raising of funds by issuing up to 5,00,000 (Five Lakh) fully paid-up equity shares. Each share has a face value of ₹10 and will be issued at par (₹10 per share), aggregating to ₹50,00,000 (Rupees Fifty Lakh). The allottees are four members of the Promoter Group, as detailed in Annexure II. The issue price is not less than the floor price determined in accordance with SEBI ICDR Regulations. The approval is sought under Sections 23, 42, and 62(1)(c) of the Companies Act, 2013.

2. Convening of EGM: The Board approved convening an Extra-Ordinary General Meeting (EGM) of members on Monday, November 23, 2026, at 12:00 noon (IST) at the Registered Office. The purpose is to seek member approval via a Special Resolution for the preferential issue. The draft Notice of the EGM and the calendar of events were approved.

Preferential Issue Details (From Annexure I)

  • Type of Security: Equity shares of face value ₹10 each, fully paid-up.
  • Type of Issuance: Preferential allotment.
  • Total Number & Amount: Up to 5,00,000 shares at ₹10 per share, aggregating ₹50,00,000.
  • Pricing & Relevant Date: Relevant Date is October 23, 2026. The shares are infrequently traded (traded turnover of 9.79% in preceding 240 days). The issue price of ₹10 (face value) is not less than the calculated floor price.
  • Valuation Report: A valuation report was obtained from Manish Santosh Buchasia, Independent Registered Valuer (IBBI Registration No. IBBI/RV/03/2019/12235), dated October 23, 2026, as required by SEBI ICDR Regulations 165 and 166A.
  • Allottees: 4 (Four) proposed allottees, all from the Promoter Group.
  • Issue Size: 5.72% of pre-issue paid-up capital and 5.41% of post-issue fully diluted capital.
  • Shareholding Pattern Change:
  • Pre-issue (as on September 30, 2026): Promoter & Promoter Group – 23,89,670 shares (27.36%); Public – 63,44,205 shares (72.64%); Total – 87,33,875 shares.
  • Post-issue: Promoter & Promoter Group – 28,89,670 shares (31.29%); Public – 63,44,205 shares (68.71%); Total – 92,33,875 shares.
  • The minimum public shareholding requirement will continue to be met.
  • Change in Control: No. The allottees are part of the existing Promoter Group.
  • Open Offer Trigger: No obligation under SEBI SAST Regulations, 2011, is triggered. The promoter group's voting rights will increase by 3.93%, within the 5% annual limit.
  • Objects of Issue: To augment the long-term working capital requirements and for general corporate purposes.
  • Related Party: The allottees are related parties (Promoter Group members), but the transaction is exempt from related party transaction rules under SEBI LODR.
  • Lock-in: The new shares will be locked in for 18 months from the date of trading approval. The allottees' entire pre-preferential shareholding will be locked in from the Relevant Date up to 90 trading days from the date of trading approval.
  • Approvals Required: Shareholder approval via Special Resolution at the EGM on November 23, 2026, and in-principle approval from BSE Limited.

Allottee Details (From Annexure II)

The four allottees, all categorized as 'Promoter', are:

1. Muvva Sujatha: Pre-issue holding 7,16,178 shares (8.20%). Allotted 1,50,000 shares. Post-issue holding 8,66,178 shares (9.38%).

2. Devendra Korapati: Pre-issue holding 6,63,775 shares (7.60%). Allotted 1,39,000 shares. Post-issue holding 8,02,775 shares (8.69%).

3. Panguluri Murali Krishna: Pre-issue holding 5,85,170 shares (6.70%). Allotted 1,22,000 shares. Post-issue holding 7,07,170 shares (7.66%).

4. Bala Sudheer: Pre-issue holding 4,24,547 shares (4.86%). Allotted 89,000 shares. Post-issue holding 5,13,547 shares (5.56%).

The allocation is broadly proportionate to their existing holdings. Their entire pre-issue holding is in dematerialized form.

Other Information

  • The Notice of EGM will be sent to the exchange and members and hosted on the company's website (www.floracorp.in), BSE's website, and the e-voting agency's website.
  • Pursuant to the company's Insider Trading Code, the trading window for securities, closed since October 19, 2026, will reopen 48 hours after the dissemination of this disclosure.