Background and Context

The company had previously allotted 2,04,08,220 convertible warrants to Promoters, Promoter Group members, and identified non-promoters through a preferential issue on a private placement basis on 14.11.2025. The issue price was ₹245 per warrant, with 25% (₹61.25 per warrant) received as initial subscription amount at the time of warrant allotment.

Current Conversion Details

One warrant holder, Shree Nakoda Pipe Impex Private Limited (SNPIPL), exercised the option to convert 2,72,000 warrants into an equal number of equity shares. The conversion required payment of the balance 75% of the issue price (₹183.75 per warrant).

Allotment Action

The Stakeholders' Relationship Committee of the Board of Directors approved the allotment via circular resolution passed on 08.10.2026 at approximately 03:00 P.M.

Financial Details

  • Total amount received: ₹4,99,80,000 (Rupees Four Crore Ninety-Nine Lakh Eighty Thousand only)
  • Number of shares allotted: 2,72,000 (Two lakh Seventy-Two Thousand)
  • Face value: Re. 1/- per share
  • Premium: ₹244 per share
  • Effective issue price: ₹245 per share (₹1 face value + ₹244 premium)

Capital Structure Impact

| Particulars | Before Allotment | After Allotment |

| Number of Shares | 67,32,38,965 | 67,35,10,965 |

| Value (face value of Re. 1/- each) (INR) | 67,32,38,965 | 67,35,10,965 |

Shareholding Change for Allottee

| Name of Allottee | Pre-Allotment Shares | Pre-Allotment % | Post-Allotment Shares | Post-Allotment % |

| Shree Nakoda Pipe Impex Private Limited | 2,72,500 | 0.04% | 5,44,500 | 0.08% |

Terms and Conditions

The new equity shares rank pari passu with existing equity shares in all respects, including dividend payment and voting rights. However, the shares are subject to lock-in as per Regulation 167 of SEBI (ICDR) Regulations, 2018.

Additional Disclosure (Annexure-A)

  • Type of issuance: Preferential Issue under Chapter V of SEBI (ICDR) Regulations, 2018
  • Total securities: 2,72,000 equity shares of face value Re. 1/- each
  • Number of Investors: 1
  • Warrant conversion status for SNPIPL:
  • Total warrants allotted: 20,40,770
  • Previously converted: 2,72,500 warrants
  • Currently converted: 2,72,000 warrants
  • Pending conversion: 14,96,270 warrants