Transaction Details

The Board of Directors approved the allotment of 1,11,00,000 (One Crore Eleven Lakhs) convertible warrants through circular resolution passed on Wednesday, October 13, 2026. Each warrant is convertible into 1 fully paid-up Equity Share of face value ₹2 each.

Pricing and Financial Terms

  • Warrant Issue Price: ₹8 per warrant (including premium of ₹6 each)
  • Subscription amount received: 25% of warrant issue price
  • Total subscription amount received: ₹2,22,00,000
  • Remaining amount payable: 75% of warrant issue price upon conversion

Allotment Breakdown

| Sr. No. | Name of Allottee | Category | Number of Warrants Allotted | Subscription Amount Received (25% of Issue Price) (₹) |

| 1. | Upendra Narottamdas Shah | Promoter, Individual | 55,50,000 | 1,11,00,000 |

| 2. | Ronish U Shah | Promoter Group, Individual | 55,50,000 | 1,11,00,000 |

| Total | | | 1,11,00,000 | 2,22,00,000 |

Conversion Terms

Warrant holders can exercise the warrants in one or more tranches at any time on or before the expiry of 18 months from the date of allotment. Conversion requires payment of the remaining 75% of the warrant issue price for the warrants being converted.

Key Personnel

  • Mr. Upendra Narottamdas Shah: Managing Director of the Company (DIN: 00748451)
  • Mr. Ronish U Shah: Executive Director of the Company