Khadim India Limited issued a corrigendum to its Extra-ordinary General Meeting (EGM) notice dated July 09, 2026. The EGM is scheduled for Saturday, August 01, 2026 at 11:30 AM IST through Video Conferencing/Other Audio Visual Means.

The corrigendum modifies Item No. 1 of the original EGM notice regarding the issuance of Fully Convertible Equity Share Warrants on a preferential basis. Changes were made pursuant to advice from the National Stock Exchange of India Limited (NSE) and BSE Limited regarding the company's application for in-principle approval for the preferential issue.

Key Changes to Preferential Warrant Issue:

I. Reduction in Issue Size:

  • The issue size has been reduced to 10,22,727 warrants (from originally proposed higher quantity)
  • Issue price remains ₹110 per warrant
  • Each warrant convertible into 1 equity share of face value ₹10 each
  • Total issue size aggregates to ₹11,24,99,970 (₹11.25 crore)

II. Removal of Proposed Allottee:

  • Ms. Palak Sanjay Agarwal has been removed from the list of proposed allottees due to identification of disqualification
  • She was originally proposed to receive 45,455 warrants

III. Corresponding Revisions in Explanatory Statement:

  • Point A: Revision in estimates for utilization of issue proceeds due to reduced issue size
  • Point D: Updated list of proposed allottees with removal of Ms. Palak Sanjay Agarwal
  • Point M: Revised shareholding pattern before and after preferential issue
  • Point O: Updated particulars of proposed allottees and ultimate beneficial owners

Detailed Revisions to Explanatory Statement:

Point A - Objects of the Issue:

Funds are required for:

1. Working capital: ₹1.75 crore (to be utilized within 2 years from receipt)

2. Long-term financial requirements for business expansion/continuation: ₹3.5 crore (within 2 years from receipt)

3. Purchase of land/property for warehouse construction: ₹6 crore

Total requirement: ₹11.25 crore

The company operates 851 retail stores (189 COCO, 662 franchises) as of March 31, 2026, and plans to increase COCO stores and complete store renovations over two years.

Point D - Revised List of Proposed Allottees:

| Sl. No. | Name | Current Status | Proposed Status | No. of Warrants |

| 1 | Mr. Siddhartha Roy Burman | Promoter | Promoter | 2,27,273 |

| 2 | Ms. Aarya Ketan Kotecha | Non-Promoter | Non-Promoter | 90,909 |

| 3 | Mr. Aniket Vijay Latkar | Non-Promoter | Non-Promoter | 90,909 |

| 4 | Ms. Ashwini Sunil Chavan | Non-Promoter | Non-Promoter | 72,727 |

| 5 | Ms. Cherry A Mehta | Non-Promoter | Non-Promoter | 90,909 |

| 6 | Gold Circle Venture Partners LLP | Non-Promoter | Non-Promoter | 90,909 |

| 7 | Mr. Krishnam Chirimar | Non-Promoter | Non-Promoter | 90,909 |

| 8 | Mr. Lalit Agrawal | Non-Promoter | Non-Promoter | 90,909 |

| 9 | Mr. Pratham Prasoon | Non-Promoter | Non-Promoter | 90,909 |

| 10 | Siddharth Harshad Parikh (HUF) | Non-Promoter | Non-Promoter | 68,182 |

| 11 | Ms. Vedika Bharat Shinde | Non-Promoter | Non-Promoter | 18,182 |

Point E - Promoter Intent:

Only Mr. Siddhartha Roy Burman (promoter) intends to subscribe to the issue. No other promoters, directors, KMPs or senior management intend to subscribe.

Point H - Pricing Basis:

  • Relevant date: July 02, 2026 (30 days prior to EGM date)
  • Company obtained revised valuation report dated July 22, 2026 from Mr. Vikram Kumar Singh (IBBI Registered Valuer, Registration No. IBBI/RV/06/2019/11320)
  • No change in valuation or offer price (₹110 per warrant)
  • Price is higher than floor price determined under ICDR Regulations
  • Article 16(c)(i)(B) of Articles of Association allows price determination by registered valuer

Point I - Re-computation:

Not applicable as it's a warrant issue

Point J - Payment Terms:

  • 25% of consideration payable at warrant subscription
  • Balance 75% payable at conversion within 18 months
  • Non-conversion within 18 months results in forfeiture of amount paid
  • Payment must come from allottee's bank account

Point M - Shareholding Pattern Impact:

Pre-issue total shares: 1,83,78,382

Post-issue total shares (assuming full conversion): 1,94,01,109

Promoter holding changes from 59.89% to 57.91%

Non-promoter holding changes from 40.11% to 42.09%

Point O - Ultimate Beneficial Owners:

Detailed table provided showing post-issue shareholding percentages for each allottee upon full conversion, ranging from 0.09% to 9.59%

Lock-in Requirements:

  • Promoter warrants: 1 year lock-in from allotment date
  • Promoter shares from conversion: 18 months lock-in from trading approval (with 20% cap), excess locked for 6 months
  • Non-promoter warrants: 1 year lock-in from allotment date
  • Non-promoter shares from conversion: 6 months lock-in from trading approval
  • Pre-preferential shareholding of allottees locked for 90 trading days from allotment

Other Key Details:

  • No change in control post-issue
  • No open offer obligation under Takeover Regulations
  • No outstanding dues to SEBI, stock exchanges or depositories
  • Company and directors not declared wilful defaulters or fraudulent borrowers
  • No fugitive economic offenders among proposed allottees

Special Resolution Details:

The resolution authorizes issuance of up to 10,22,727 warrants convertible into equity shares within 18 months at ₹110 per warrant. Allotment to be completed within 15 days of special resolution passing, subject to regulatory approvals.

Interested Parties:

Mr. Siddhartha Roy Burman (Executive Chairman), Mr. Rittick Roy Burman (Managing Director), and Mr. Ritoban Roy Burman (Non-Executive Director) are interested in the resolution as directors and shareholders.