1. Allotment of Equity Shares upon Warrant Conversion

Following a preferential issue approved by an Extra-Ordinary General Meeting on November 13, 2024, and allotted by the Board on December 10, 2024, two warrant holders from the Promoter Group exercised their option to convert a total of 1,50,00,000 (One Crore Fifty Lakh) warrants into an equivalent number of equity shares.

Upon receipt of the balance 75% of the issue price, amounting to ₹21,15,00,000 (Rupees Twenty-One Crores Fifteen Lakhs Only), the Board allotted 1,50,00,000 equity shares of face value Re. 1/- each at a premium of ₹17.80 per share. The total issue price per share was ₹18.80.

The details of the allottees are:

  • Dinesh Shankarlal Sharma (Promoter Group): 75,00,000 shares allotted against 86,00,000 warrants held.
  • Shreyas Dinesh Sharma (Promoter Group): 75,00,000 shares allotted against 86,00,000 warrants held.

Consequently, the Issued, Subscribed and Paid-up Equity Share Capital of the company increased to ₹11,16,73,170 (Rupees Eleven Crores Sixteen Lakhs Seventy-Three Thousand One Hundred Seventy Only) with effect from June 08, 2026. The new equity shares will rank pari passu with the existing equity shares of the company. The warrants/resulting equity shares are subject to the lock-in provisions prescribed under the SEBI (ICDR) Regulations, 2018.

2. Forfeiture of Money and Cancellation of Warrants

The initial 25% upfront application money received at the time of warrant allotment, amounting to ₹2,44,40,000 (Rupees Two Crores Forty Four Lakhs Forty Thousand Only), was forfeited in accordance with the terms of the issue. This action did not result in any change to the company's capital structure.

The details of the warrant holders whose warrants were cancelled are:

  • Dinesh Shankarlal Sharma (Promoter): 11,00,000 warrants
  • Shreyas Dinesh Sharma (Promoter): 11,00,000 warrants
  • Asish Kumar Mukherjee (Non-Promoter): 2,25,000 warrants
  • Mira Mukherjee (Non-Promoter): 2,25,000 warrants
  • Babita Dugar (Non-Promoter): 1,50,000 warrants
  • Rajesh Kumar Dugar (Non-Promoter): 1,50,000 warrants
  • Tanushree Panjwani (Non-Promoter): 1,50,000 warrants
  • Vincent Commercial Co. Limited (Non-Promoter): 19,00,000 warrants
  • Pooja Jain (Non-Promoter): 2,00,000 warrants

This disclosure was made to BSE Limited by Ramjan Kadar Shaikh, Wholetime Director (DIN: 08286732), in compliance with SEBI regulations, including references to SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.