1. Preferential Equity Share Issuance

The Board approved the issuance of up to 7,64,317 equity shares of face value ₹5 each for cash at a price of ₹1,962.53 per share (including a premium of ₹1,957.53 per share) to non-promoter category investors. The total amount to be raised is ₹149,99,95,042.01 (One Hundred Forty-Nine Crores Ninety-Nine Lakhs Ninety-Five Thousand Forty-Two and Paise One Only).

The issuance will be made to four specific investors:

  • 360 One Pipe Fund: 3,82,159 shares for ₹74,99,98,502.27
  • FLC Investco LLC: 1,52,863 shares for ₹29,99,98,223.39
  • Bank of India - Mid & Small Equity and Debt Fund: 91,718 shares for ₹17,99,99,326.54
  • Bank of India - Small Cap Fund: 1,37,577 shares for ₹26,99,98,989.81

Post-allotment, these investors will hold approximately 3.01% of the expanded equity share capital. The relevant date for determining the issue price was June 19, 2026.

2. Extra-Ordinary General Meeting

An EOGM will be held on Sunday, July 19, 2026, at 11:00 AM IST to seek shareholder approval for the preferential issue. Details of the meeting will be communicated separately.

3. Monitoring Agency Appointment

The Board appointed CARE Ratings Limited, a SEBI-registered credit rating agency, as the monitoring agency for the preferential issue.

4. Warrant Conversion and Equity Allotment to Promoter Group

The Board allotted 1,55,892 equity shares of face value ₹5 each to Mr. Sujay Kewalramani (promoter group) upon conversion of share warrants. This follows the company's earlier communication dated October 30, 2025.

The allotment was made upon receipt of the remaining 75% of the warrant exercise price of ₹1,425 per warrant (total warrant exercise price was ₹1,900 per warrant), aggregating to ₹11,10,73,050 (Eleven Crores Ten Lakhs Seventy-Three Thousand and Fifty Only).

The company gave effect to the sub-division of equity shares made in December 2025, where face value was reduced from ₹10 to ₹5 per share. Originally, 77,946 convertible warrants of ₹10 each were allotted in October 2025, which converted into 1,55,892 equity shares of ₹5 each after the sub-division.

Post this allotment, the company's paid-up equity share capital increased from 2,44,44,108 equity shares to 2,46,00,000 equity shares. The newly allotted shares will rank pari-passu with existing equity shares in all respects, including dividend rights.