Board Meeting Details

The Board of Directors meeting was held on September 17, 2026, commencing at 7:15 AM IST and concluding at 7:30 AM IST.

Investment Approval

Based on the recommendation of the Audit Committee, the Board approved the subscription to 204,946 shares of common stock of XBP Global Holdings, Inc. (NASDAQ: XBP) at US$ 2.83 per share. The investment is being made through HCI LLC and will represent 1.45% of XBP Global's shares outstanding following completion.

Transaction Details

  • Total Investment: US$ 579,997.18 (₹5.57 Crore)
  • Payment Method: Total cash consideration
  • Completion Date: September 17, 2026
  • Percentage Ownership: 1.45% post-completion
  • Controlling Stake: No controlling stake acquired

Related Party Transaction

The transaction qualifies as a non-material related party transaction under Regulation 23 of SEBI (LODR) Regulations, 2015, as the Promoter of HGM owns an equity interest in XBP Global and serves on its board of directors. The transaction was conducted on an arm's length basis, with share price based on market value alongside other investors.

Target Company Information

XBP Global Holdings, Inc.

  • Headquarters: 6641 N. Belt Line Road, Suite 100, Irving, Texas, USA
  • Industry: Business Process Automation
  • Incorporation: Originally incorporated in Delaware, USA on July 8, 2020 as CF Acquisition Corp. VIII
  • Business: Workflow automation leader leveraging decades of industry experience, global footprint and Agentic AI for business process automation and digital transformation
  • Employee Count: Approximately 9,000 employees across 20 countries
  • Client Base: Supports over 2,000 clients worldwide

Financial Performance of XBP Global

(Figures in US$ Million)

| Particulars | FY23 | FY24 | FY25 |

| Turnover | 166.31 | 867.1 | 788.0 |

Note: XBP Global acquired Exela Technologies BPA, LLC on July 29, 2025. FY24 and FY25 revenues reflect combined historical operations, while FY23 does not include the acquisition impact.

Geographic Revenue Distribution (3 months ended June 30, 2026)

  • USA: 87%
  • EMEA: 11%
  • Other: 2%

Investment Rationale

The investment reflects management's strategy to integrate AI-led automation into critical workflows, meet growing demand for efficiency, and explore new business avenues in the AI ecosystem. The company stated there will be no impact on HGM's operations.

Regulatory Approvals

No prior regulatory approvals are required for the subscription of common stock.

Disclosure Compliance

The details are provided in accordance with Regulation 30 of SEBI (LODR) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD-PoD2/CIR/P/0155 dated November 11, 2024.