Summary of Key Information:

Reporting Period (Quarter/Year): Not Specified

Nature of Filing / Announcement: Regulatory filing for Outcome of Board Meeting under SEBI LODR Regulations

Audit Opinion:

Not Specified

Key Financial Highlights:

Fundraising Activity:

  • Preferential allotment of 23,67,573 Equity Shares of face value ₹10 each
  • Issue price: ₹802.51 per share (including premium of ₹792.51 per share)
  • Total funds raised: Approximately ₹190 crore (23,67,573 shares × ₹802.51)
  • Allotment made to Non-Promoter category investors

Corporate Actions:

Preferential Allotment Details:

  • Allotment to three non-promoter investors:

1. Galilei Holdings Co. Ltd. (Japan): 22,42,963 shares (12.36% post-allotment stake)

2. Ms. Bhumi Jayeshkumar Patel: 62,305 shares (0.34% post-allotment stake)

3. Ms. Shweta Samir Patel: 62,305 shares (0.34% post-allotment stake)

  • Shares subject to lock-in as per SEBI ICDR Regulations
  • Application to be made to NSE for listing of allotted shares

Joint Venture Investment:

  • Company to subscribe to 3,52,70,000 Equity Shares of Ice Make Horeca Private Limited
  • Aggregate subscription consideration: ₹35,27,00,000 (₹10 per share)
  • Post-investment shareholding: 40% stake in JV Company (3,52,80,000 shares including 6 nominee-held shares)
  • Galilei Holdings will hold 60% stake in JV Company (5,29,20,000 shares)

Joint Venture Background:

  • JV Company: Ice Make Horeca Private Limited (CIN: U28191GJ2026PTC181848)
  • Incorporated: August 5, 2026
  • JV Agreement dated July 24, 2026 between Company and Galilei Holdings
  • Deed of adherence dated August 10, 2026
  • Considered related party transaction, undertaken on arm's-length basis

Business Scope of JV Company:

  • Interim Period: Manufacturing, assembling components for commercial upright and table-type refrigerators
  • Post Interim Period: Full manufacturing and commercialization of:
  • Commercial upright type refrigerators
  • Commercial table type refrigerators
  • Derivative and successor products
  • Ice makers
  • Modular blast chillers with microcomputer-based control systems
  • After-sales, maintenance, and support services

Transaction Details:

  • No governmental or regulatory approvals required
  • Completion subject to conditions precedent in JV Agreement
  • Outer completion date: 5 months from JV Agreement execution (by December 24, 2026) or mutually agreed date
  • Country of operations: India
  • JV Company financials: Not applicable (recently incorporated, no material operations)

Other Significant Information:

  • NSE 'In principle' approval granted vide Ref: NSE/LIST/56521 dated August 27, 2026
  • Compliance with SEBI ICDR Regulations and Companies Act, 2013
  • Disclosure under Regulation 30 of SEBI LODR Regulations, 2015
  • Reference to SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026