Date: September 09, 2026

Board Meeting Outcomes

  • The Board of Directors, via circular resolution dated September 09, 2026, approved the allotment of 25,00,000 (Twenty Five Lakh) Convertible Warrants
  • These warrants are convertible into an equal number of Equity Shares of face value ₹5 each
  • The allotment is made pursuant to Special Resolution passed at EGM held on July 22, 2026
  • Based on approvals received from NSE (Letter No. NSE/LIST/56087) and BSE (Letter No. LOD/PREF/PB/FIP/714/2026-27), both dated August 27, 2026

Fundraising Details

  • Type of securities: Convertible Warrants
  • Type of issuance: Preferential issue through private placement offer
  • Total securities: 25,00,000 warrants
  • Issue price: ₹240 per warrant (₹5 face value + ₹235 premium)
  • Total amount: ₹60,00,00,000 (Rupees Sixty Crore)
  • Consideration received: 25% of total consideration aggregating ₹15,00,00,000 (Rupees Fifteen Crore) received from allottees
  • Number of investors: 21 (Twenty-One)

Warrant Conversion Terms

  • Warrants convertible into equity shares at Warrant Exercise Price of ₹180 per warrant
  • Conversion represents 75% of the Warrant Issue Price
  • Conversion can be exercised in one or more tranches
  • Maximum conversion period: 18 months from date of allotment (September 09, 2026)
  • Unexercised warrants after 18 months shall lapse, and paid amount shall stand forfeited

Shareholding Impact

  • No change in paid-up share capital at warrant allotment stage
  • Post-conversion shareholding details for major allottees:
  • Likhitha Gaddipati: 3,25,000 warrants → 3,28,250 shares (0.78%)
  • Lohitha Gaddipati: 3,00,000 warrants → 3,00,000 shares (0.95-1.19%)
  • Chennamaneni Sushmitha: 5,00,000 warrants → 5,00,000 shares (0.95%)
  • Srinivasulu Chowdary Kavuturu: 4,00,000 warrants → 4,00,000 shares (0.42%)
  • Shradha Bangad: 1,75,000 warrants → 1,75,000 shares (0.42%)
  • Pranali Bangad: 1,75,000 warrants → 1,75,000 shares (0.42%)
  • Anjana Bangad: 1,70,000 warrants → 1,70,000 shares (0.41%)

Allottee Categories

  • Promoter: Likhitha Gaddipati
  • Promoter Group: Lohitha Gaddipati
  • Non-Promoters: Remaining 19 allottees including Chennamaneni Sushmitha, Srinivasulu Chowdary Kavuturu, and others