Key Quantitative Figures

  • Equity Shares: Up to 23,00,000 equity shares of face value ₹10 each
  • Equity Issue Price: ₹72 per share (₹10 face value + ₹62 premium)
  • Equity Consideration: ₹16,56,00,000 (Sixteen Crore Fifty Six Lakh)
  • Convertible Warrants: Up to 11,50,000 warrants
  • Warrant Issue Price: ₹72 per warrant
  • Warrant Consideration: ₹8,28,00,000 (Eight Crore Twenty Eight Lakh)
  • Total Fundraising: ₹24,84,00,000 (Twenty Four Crore Eighty Four Lakh)
  • Current Share Capital: 1,07,50,000 shares
  • Post-Issue Share Capital: 1,42,00,000 shares (on full conversion)
  • Promoter Holding Pre-Issue: 5,00,000 shares (4.65%)
  • Promoter Holding Post-Issue: 5,00,000 shares (3.52%)

Dates of Action

  • Cut-off Date for Voting Rights: 26th June, 2026
  • Dispatch Completion Date: 2nd July, 2026
  • Voting Start Date: 3rd July, 2026 at 9:00 a.m.
  • Voting End Date: 1st August, 2026 at 5:00 p.m.
  • Scrutinizer Report Submission: On or before 4th August, 2026
  • Results Announcement: On or before 4th August, 2026
  • Allotment Timeline: Within 15 days of resolution passing (subject to regulatory approvals)
  • Warrant Conversion Period: Within 18 months from allotment date

Parties Involved

Registrar & Transfer Agent: Skyline Financial Services Private Limited (website: www.skylinerta.com)

E-Voting Service Provider: Central Depository Services Limited (CDSL)

Scrutinizer: Mr. Alok Jain of M/s. Jain Alok & Associates, Practicing Company Secretaries

Valuer: Mr. Nitish Chaturvedi, Registered Valuer (IBBI Registration No. IBBI/RV/03/2020/12916)

Equity Allottees:

  • Aegis Investment Fund, PCC (Non-Promoter QIB): 13,00,000 shares
  • Niveza Small Cap Fund (Non-Promoter QIB): 7,00,000 shares
  • Orbit Global Softsol Private Limited (Non-Promoter Body Corporate): 1,00,000 shares
  • Enes Global Softek Private Limited (Non-Promoter Body Corporate): 1,00,000 shares
  • Sri Vinayaka Enterprises (Non-Promoter Partnership firm): 1,00,000 shares

Warrant Allottees:

  • Enact Technologies Private Limited (Non-Promoter Body Corporate): 8,00,000 warrants
  • Manoharben Jamnalal Kabra (Non-Promoter Individual): 2,00,000 warrants
  • Nirmalaben Manubhai Chabaria (Non-Promoter Individual): 1,00,000 warrants
  • Rajendrakumar Sukhraj Jain (Non-Promoter Individual): 50,000 warrants

Purpose/Rationale

The object of the proposed issue is to meet the working capital requirements of the Company and for other general corporate purposes.

Financial/Operational Impact

  • Capital Dilution: Promoter holding dilutes from 4.65% to 3.52% on full conversion
  • Lock-in Period: Equity shares allotted will be subject to 6 months lock-in as per SEBI ICDR Regulations
  • Warrant Terms: 25% payment on allotment, balance 75% payable at conversion
  • Voting Impact: No change in control of the Company
  • Listing: Equity shares will be listed on BSE and MSEI

Capital Structure Impact

  • Pre-issue paid-up capital: 1,07,50,000 equity shares
  • Post-issue paid-up capital: 1,42,00,000 equity shares (on full conversion of warrants)
  • Dilution impact: 24.19% dilution on fully converted basis

Cash Flow Implications

  • Immediate inflow: ₹16,56,00,000 from equity issue + ₹2,07,00,000 (25% of warrant value)
  • Future inflow: ₹6,21,00,000 (75% balance on warrant conversion)
  • Funds will be kept in separate bank account and utilized for working capital requirements

Pricing Basis

The issue price of ₹72 per share/warrant was determined as per Regulation 164 of SEBI ICDR Regulations:

  • 90-day VWAP: ₹56.82 per share (BSE)
  • 10-day VWAP: ₹63.79 per share (BSE)
  • Relevant Date for pricing: 2nd July, 2026
  • Valuation report by Mr. Nitish Chaturvedi supported ₹63.79 price

Voting Mechanism

  • Remote e-voting through CDSL platform
  • Physical copies not being sent to members (electronic only)
  • Voting rights based on shareholding as of 26th June, 2026
  • Results will be announced on or before 4th August, 2026