Key Quantitative Figures

  • Current Authorized Share Capital: ₹7.50 crores (75 lakh equity shares of ₹10 each)
  • Proposed Authorized Share Capital: ₹64.00 crores (6.4 crore equity shares of ₹10 each)
  • Preferential Issue Size: Up to 5,67,51,732 equity shares at ₹14 per share (₹10 face value + ₹4 premium)
  • Total Issue Value: ₹79.45 crores
  • Borrowing Limit Sought: ₹70 crores under Section 180(1)(c)
  • Security Creation Limit: ₹70 crores under Section 180(1)(a)
  • Loan/Guarantee Limit: ₹70 crores under Section 186
  • Related Party Loan Limit: ₹50 crores under Section 185
  • FY26 Net Loss: ₹25.50 lakhs (compared to ₹5.84 lakhs loss in FY25)
  • Current Paid-up Capital: ₹6.47 crores (64,74,600 equity shares)

Dates of Action

  • AGM Date: Monday, September 28, 2026 at 03:30 PM IST
  • AGM Mode: Video Conferencing/Other Audio Visual Means
  • Cut-off Date for E-voting: Monday, September 21, 2026
  • Remote E-voting Period: September 25, 2026 (09:00 AM) to September 27, 2026 (05:00 PM)
  • Book Closure: September 22, 2026 to September 28, 2026 (both days inclusive)
  • Relevant Date for Preferential Issue: August 28, 2026

Parties Involved

Board of Directors:

  • Mr. Pratik Ashok Kumar Patwari (Chairman & Managing Director, DIN: 11060670)
  • Mr. Anand Kumar Jain (Additional Executive Director and CFO, DIN: 08073642)
  • Mr. Prakash Chand Bokaria (Additional Non-Executive Director, DIN: 00432792)
  • Ms. Megha Sharan (Additional Independent Director, DIN: 05332335)
  • Ms. Priyanka K Gola (Resigned w.e.f 11.08.2026)
  • Mr. Nayan Kamlesbhai Patel (Resigned w.e.f. 24.08.2026)
  • Mr. Atul Chauhan (Appointed w.e.f. 29.08.2026, Independent Director)

Key Managerial Personnel:

  • Ms. Savitri Kumari (Company Secretary & Compliance Officer)
  • Mr. Anand Kumar Jain (CFO)

Statutory Auditor: M/s. Prakash Tekwani & Associates (Firm Registration No. 120253W) - Resigned w.e.f 6th August 2026

Proposed Statutory Auditor: M/s. Grover Lalla & Mehta (FRN: 002830N)

Secretarial Auditor: M/s. VJ & Associates (Company Secretaries)

Registrars & Transfer Agents: Purva Sharegistry (India) Limited

Bankers: YES Bank Limited

Acquisition Targets

Blisstering Electronics Private Limited (BEPL):

  • Business: Manufacture and trade of electronic components, devices, equipment
  • Authorized Capital: ₹3.50 crores, Paid-up Capital: ₹3.12 crores
  • Acquisition: 31,23,479 equity shares (100% stake)
  • Consideration: 4,68,52,185 equity shares of IISL at swap ratio 15:1

Bliss Cab Electronics Private Limited (BCEPL):

  • Business: Manufacture of fibre optic cables, electrical/electronic items, plastic items
  • Authorized Capital: ₹13.00 crores, Paid-up Capital: ₹12.31 crores
  • Acquisition: 1,23,12,870 equity shares (100% stake)
  • Consideration: 98,99,547 equity shares of IISL at swap ratio 201:250

Financial Impact

Capital Structure Changes:

  • Pre-issue share capital: ₹6.47 crores (64,74,600 shares)
  • Post-issue share capital: ₹63.23 crores (6,32,26,332 shares) - 877% increase
  • Promoter holding change: From 1.95% (1,26,100 shares) to 50.74% (3,20,78,452 shares)
  • Public holding change: From 98.05% (63,48,500 shares) to 49.26% (3,11,47,880 shares)

Valuation Details:

  • Issue price: ₹14 per share determined based on valuation report by Mr. Hitesh Jhamb, Registered Valuer (IBBI Registration No. IBBI/RV/11/2019/12355)
  • Floor price as per SEBI ICDR Regulations: ₹13.98
  • Valuation report dated August 29, 2026

Business Rationale

The Company proposes to fundamentally change its main business object from infrastructure and real estate activities to electronics and electrical manufacturing and trading. The acquisition of BEPL and BCEPL is intended to enable business diversification and strategic expansion into the electronics sector.

Corporate Governance

Board Committees:

  • Audit Committee: Ms. Megha Sharan (Chairman), Mr. Atul Chauhan, Mr. Prakash Chand Bokaria
  • Nomination and Remuneration Committee: Ms. Megha Sharan (Chairman), Mr. Atul Chauhan, Mr. Prakash Chand Bokaria
  • Stakeholder Relationship Committee: Ms. Megha Sharan (Chairman), Mr. Atul Chauhan, Mr. Prakash Chand Bokaria

Board Meetings: 11 meetings held during FY 2025-26

Financial Performance FY 2025-26

  • Revenue from Operations: Nil
  • Other Income: Nil (compared to ₹36.17 lakhs in FY25)
  • Total Expenses: ₹23.54 lakhs (compared to ₹34.47 lakhs in FY25)
  • Employee Benefit Expenses: ₹2.00 lakhs (compared to ₹17.62 lakhs in FY25)
  • Depreciation: ₹0.53 lakhs (compared to ₹0.29 lakhs in FY25)
  • Net Loss: ₹25.50 lakhs (compared to ₹5.84 lakhs loss in FY25)
  • No dividend recommended for FY26

Voting Arrangements

  • Remote e-voting through NSDL
  • E-voting period: September 25, 2026 (09:00 AM) to September 27, 2026 (05:00 PM)
  • Physical attendance dispensed with due to MCA circulars permitting VC/OAVM meetings