Key Proposal Details

Item No. 1: Approval for modification in the utilization of funds raised through the Preferential Issue of Equity Shares and Fully Convertible Warrants

The company seeks shareholder approval via special resolution to modify the utilization objects of funds raised through preferential issue of 72,07,204 Equity Shares and 36,03,602 Fully Convertible Warrants aggregating to ₹29,99,99,866.50 (Rupees Twenty Nine Crore Ninety Nine Lakh Ninety Nine Thousand Eight Hundred Sixty Six and Fifty Paise Only).

Current Approved Utilization (as approved on June 23, 2025):

  • Equipment for manufacturing facility: ₹599.99 lakh (by December 2026)
  • Infusion in Group entities (JHS Svendgaard Retail Ventures Ltd. and/or subsidiary): ₹1650 lakh (by December 2026)
  • General Corporate Purpose: ₹750 lakh (by December 2026)
  • Total: ₹2,999.99 lakh

Proposed Modified Utilization:

  • Capital Expenditure and Business Expansion: ₹1174.99 lakh (by March 31, 2027)
  • Strategic, Financial and Growth Initiatives: ₹1075 lakh (by March 31, 2027)
  • General Corporate Purpose: ₹750 lakh (by March 31, 2027)
  • Total: ₹2,999.99 lakh

Rationale for Modification

The proposed variation is due to:

  • Evolving operational requirements and manufacturing expansion plans
  • Business development opportunities and strategic initiatives
  • Need for greater operational flexibility and clarity in deployment of unutilized proceeds
  • The modification does not change the total amount of funds raised

Historical Context

The shareholders originally approved raising funds up to ₹30.00 Crores through preferential issue on July 4, 2024 for:

1. Setting up a new project in Jammu & Kashmir under Industrial Development Scheme 2021-30

2. General Corporate Purposes

Due to changes in Government policies affecting the proposed project, the Board first modified the utilization on May 17, 2025, which was approved by shareholders via postal ballot on June 23, 2025.

Voting Process Details

  • Cut-off date: June 26, 2026
  • E-voting period: June 30, 2026 (9:00 AM IST) to July 29, 2026 (5:00 PM IST)
  • E-voting service provider: National Securities Depository Limited (NSDL)
  • Scrutinizer: Mr. Mohit Dahiya, Company Secretary in Practice
  • Results declaration: Post-scrutiny on company website and NSDL website

Financial Impact

The modification does not alter the total fund amount but changes the allocation between objects and extends the utilization timeline by three months (from December 2026 to March 2027).