Summary of Key Information:

Nature of Filing / Announcement: Outcome of Board Meeting under Regulation 30(2) and 33 of SEBI (LODR) Regulations, 2015

Date of Board Meeting / Approval: September 2, 2026 (commenced at 11:05 a.m., concluded at 11:25 a.m.)

Key Financial Highlights:

The Company had raised ₹20,204.98 lakhs through Qualified Institutions Placement (QIP) by issue of 61,22,722 Equity Shares at ₹330 per Equity Share. After deduction of estimated issue-related expenses, Net Proceeds amounted to approximately ₹19,520.98 lakhs.

As on June 30, 2026, the Company had utilized approximately ₹49.25 crore, leaving approximately ₹152.80 crore unutilised from the QIP proceeds.

Corporate Actions:

The Board approved revision in utilization and deployment of unutilised QIP proceeds in accordance with revised business requirements, retail expansion strategy and commercial requirements.

Revised Utilization Plan:

  • ₹107.80 crore towards opening and establishment of remaining 35 new brand-exclusive stores
  • ₹45.00 crore towards permissible General Corporate Purposes

Store Expansion Details:

  • Stores already opened as on June 30, 2026: 25 stores
  • Remaining stores proposed to be established: 35 stores
  • Total number of retail stores under revised programme: 60 stores

General Corporate Purposes Breakdown:

The revised utilization towards General Corporate Purposes shall include future store rentals, lease rentals, marketing, advertising, brand promotion, customer acquisition initiatives, promotional campaigns, business development initiatives and other permissible ordinary-course business expenditure.

Regulatory Limits:

The aggregate utilization towards General Corporate Purposes shall not exceed 25% of the Gross Proceeds of ₹20,204.98 lakhs, i.e. ₹5,051.245 lakhs (₹50.51245 crore).

Timeline Revision:

The Board approved extension of timeline for utilization of unutilised QIP proceeds from March 31, 2027 to December 31, 2027.

Regulatory Disclosures:

The revised utilization remains subject to terms and conditions of the Placement Document, applicable provisions of the Companies Act, 2013, SEBI ICDR Regulations, SEBI Listing Regulations and other applicable laws. The Company shall continue to comply with all applicable monitoring, reporting and disclosure requirements.

The revision shall be appropriately reported to the Monitoring Agency and disclosed in relevant regulatory filings.

Contact Information:

Pankaj Parkhiya, Company Secretary & Compliance Officer (ACS 30395)