Key Changes to EGM Notice

Changes to Explanatory Statement - Objects of Preferential Issue (Item No. 1)

The original 'Objects of the Preferential Issue' section has been completely substituted. The Company, a research-led pharmaceutical company, intends to utilize the proceeds from the issue of 70,00,000 Fully Convertible Warrants (Issue Proceeds) for the following objects, considering 100% conversion:

1. Expansion of Business (Total: ₹49.90 Crore)

  • a. Expansion of Existing Manufacturing Facility and Setting up of Warehouse: ₹41.40 crore for expanding manufacturing capacity at facilities in Jawaharpur, Derabassi (Punjab) and Jammu (Jammu & Kashmir), and setting up a new warehouse in Derabassi. Tentative timeline for utilization is December 31, 2029.
  • b. Research & Development (R&D): ₹2.00 crore for R&D of new pharmaceutical formulations and purchase of pilot scale formulation and analytical equipment.
  • c. Technology Upgradation: ₹1.50 crore for (i) Implementation and customization of SAP systems and (ii) Development and deployment of Building Management Systems at the Plants.
  • d. Investment in Subsidiary: ₹5.00 crore investment in ISLL Middle East LLC-FZ, Dubai, for its Marketing and Business Development.

2. Working Capital Requirements: ₹53.00 crore to meet the working capital requirements of the Company. Tentative timeline for utilization is December 31, 2028.

3. General Corporate Purposes: ₹34.30 crore for general corporate purposes, subject to such utilization not exceeding 25% of the total consideration. Tentative timeline for utilization is December 31, 2028.

Total Estimated Utilization: ₹137.20 Crore.

The entire Issue Proceeds from the Proposed Allottee (an entity belonging to 'Promoter & Promoter Group') will be received by the Company within 18 months from the date of allotment of Warrants as per Chapter V of SEBI (ICDR) Regulations. The proceeds will be utilized in phases as per business requirements. Pending utilization, the Gross Proceeds will be deposited with scheduled commercial banks included in the second schedule of the Reserve Bank of India Act, 1934.

Additions to Explanatory Statement - Undertakings (Point No. XIII)

The following two undertakings have been added:

  • The Company undertakes that it shall, if required to do so, re-compute the price of the specified securities in terms of the provision of SEBI ICDR Regulations.
  • It further undertakes that if the amount payable on account of the re-computation of price is not paid within the stipulated time, the Equity Shares and Warrants shall continue to be locked-in till the time such amount is paid by the allottees.

Other Particulars

All other particulars and details in the original EGM Notice dated July 10, 2026, remain unchanged. This corrigendum is to be read in conjunction with the original notice and explanatory statement. The document is signed by Pardeep Verma, VP - Corporate Affairs & Company Secretary (Membership No. F4387).

Availability

The corrigendum is available on the Company's website (www.indswiftgroup.com), the website of BSE Limited (www.bseindia.com), and the website of National Stock Exchange of India Limited (www.nseindia.com). It will also be sent electronically to all registered shareholders of the Company.