Preferential Issue Details

The Company proposes to issue up to 37,60,000 fully paid-up Equity Shares of face value ₹5/- each at an issue price of ₹375/- per Equity Share, aggregating up to ₹141 Crores, on a preferential basis.

Document History

The clarification references three documents:

  • Original EGM Notice dated August 10, 2026
  • First Corrigendum dated August 21, 2026 (provided additional disclosures relating to objects of issue and ultimate beneficial ownership of certain Proposed Allottees)
  • Further Corrigendum dated August 28, 2026 (replaced Mr. Saurabh Varma with Mr. Rakesh Amarlal Hinduja as a Proposed Allottee, without change in total size or issue price)

These three documents form an integral part of the disclosures relating to the proposed Preferential Issue.

Allottee Status Classification

The disclosure provides a detailed table showing current and proposed status of all 12 Proposed Allottees pre and post preferential issue:

| Sr. No. | Name of Proposed Allottee | Pre-Preferential Issue Status | Post-Preferential Issue Status |

| 1 | Garudlaxmi Ventures LLP | Promoter Group | Promoter Group |

| 2 | Rakesh Amarlal Hinduja | Non-Promoter | Non-Promoter |

| 3 | Nitish Mittersain | Non-Promoter | Non-Promoter |

| 4 | Siddharth Kabra | Non-Promoter | Non-Promoter |

| 5 | Singularity Large Value Fund III | Non-Promoter | Non-Promoter |

| 6 | Utpal Hemendra Sheth | Non-Promoter | Non-Promoter |

| 7 | Sthitaprajna Advisors LLP | Non-Promoter | Non-Promoter |

| 8 | Kiran Vyapar Limited | Non-Promoter | Non-Promoter |

| 9 | Surendra Lakhumal Hiranandani | Non-Promoter | Non-Promoter |

| 10 | Chanakya Wealth Creation Fund | Non-Promoter | Non-Promoter |

| 11 | Amit Mehta | Non-Promoter | Non-Promoter |

| 12 | Antique Securities Private Limited | Non-Promoter | Non-Promoter |

Valuation Report Rationale

The Company obtained a valuation report from an independent Registered Valuer for the following reasons:

  • Pursuant to Section 62(1)(c) of the Companies Act, 2013 read with Rule 13 of the Companies (Share Capital and Debentures) Rules, 2014
  • Although not required under SEBI ICDR Regulations (since equity shares are frequently traded and issue price is determined by prescribed pricing formula)
  • As a measure of good corporate governance and transparency to ensure independent assessment of Equity Shares