Key Decisions Approved

1. Postal Ballot for Variation in IPO Objects

The Board approved conducting a postal ballot to seek shareholder approval via Special Resolution for Variation in Objects of IPO. A separate intimation will be filed regarding this matter.

2. Acquisition of Majority Stake in Blue Tree Clinics LLC, UAE

The Company will acquire 51% stake in UAE-based Blue Tree Clinics LLC through a Share Purchase Agreement.

Acquisition Details:

  • Target Company: Blue Tree Clinics LLC, Dubai, UAE
  • Business: Licensed polyclinic engaged in Plastic Surgery, Laser Cosmetic, General Dental Clinic and Chiropractic Center
  • Shareholding Structure: Currently 3 shareholders (91.866% held by one shareholder, 8.114% by two shareholders)
  • Industry: Medical Services
  • Acquisition Purpose: Expansion of existing business into new geography with additional service offerings
  • Consideration: Cash payment of ₹19,83,64,500 (approximately ₹19.84 crore)
  • Payment Structure: Payable in 2 tranches
  • Completion Timeline: Maximum 50 days required
  • Government Approvals: None required

Financial Performance of Target (Blue Tree Clinics LLC):

  • FY 2023 Revenue: 11,249,500 AED
  • FY 2024 Revenue: 9,068,150 AED
  • FY 2025 Revenue: 10,538,978 AED
  • FY 2025 Net Profit: 3,138,809 AED

Related Party Status: The acquisition does not constitute a related party transaction. No promoter/promoter group/group companies have any interest in the target entity.

3. Appointment of Additional Director

The Board appointed Mr. (Dr) Paresh Dhoti (DIN: 11802188) as Additional Non-Executive Independent Director effective July 09, 2026.

Director Profile:

  • Obtained Bachelor of Dentistry in 2006 from Government Medical College, Ahmedabad
  • Has been practicing as a Dentist independently in Vadodara for 18 years
  • Term: First term of five consecutive years, subject to shareholder approval at next AGM
  • Relationship: Not related to any existing director of the Company
  • The appointment is subject to compliance with Regulation 17(1C) and Regulation 25(2A) of Listing Regulations and Companies Act, 2013

Meeting Details

  • Date: July 09, 2026
  • Duration: 4:30 PM to 8:00 PM