Date: July 07, 2026

Regulatory Disclosure Context

Disclosure made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in response to NSE Requirement Letter No. NSE/LIST/55242 dated June 30, 2026 regarding in-principle approval application for preferential issue.

Voluntary Valuation Report

The Management voluntarily obtained a Valuation Report dated May 16, 2026 from Mr. Bhavesh M. Rathod, Registered Valuer – Securities or Financial Assets (Registration No. IBBI/RV/06/2019/10708) for determining the fair value of Equity Shares proposed to be allotted pursuant to conversion of Convertible Equity Share Warrants.

Shareholding Pattern Revision

The Company revised disclosures in Point Nos. 9, 14 and 15 of the EGM Notice dated May 16, 2026 to reflect post-issue shareholding pattern on fully diluted basis after considering ESOPs already granted, which was inadvertently not considered earlier.

Revised Shareholding Pattern (Annexure A)

Pre-Issue Shareholding as on March 31, 2026:

  • Total Shares: 36,93,92,364 (100%)
  • Promoters & Promoter Group: 14,96,51,769 shares (40.51%)
  • Indian Individuals: 3,36,14,073 shares (9.10%)
  • Bodies Corporate: 11,60,37,696 shares (31.41%)
  • Non-Promoters Holding: 21,97,40,595 shares (59.49%)
  • Others (including NRIs/HUF): 21,97,40,595 shares (59.49%)

Post-Issue Shareholding (Indicative, after full warrant conversion):

  • Total Shares: 41,91,73,299 (100%)
  • Promoters & Promoter Group: 14,96,51,769 shares (35.70%)
  • Indian Individuals: 3,36,14,073 shares (8.02%)
  • Bodies Corporate: 11,60,37,696 shares (27.68%)
  • Non-Promoters Holding: 26,95,21,530 shares (64.30%)
  • Others (including NRIs/HUF): 26,95,21,530 shares (64.30%)

Post-issue calculation includes: Pre ESOP Granted (21,97,40,595) + ESOP Granted (3,10,30,942) + Convertible Equity Share Warrants (1,87,49,993) = Total 26,95,21,530

Allottee Details (Annexure B)

The preferential issue involves 13 allottees receiving total 1,87,49,993 Convertible Equity Share Warrants:

1. Shiv Sehgal (Individual): 11,36,363 warrants (0.27% post-issue)

2. Avarjit Singh Birghi (Individual): 17,04,545 warrants (0.41% post-issue)

3. Sarabpreet Kaur (Individual): 17,04,545 warrants (0.41% post-issue)

4. Camouflage Ventures LLP (LLP): 1,42,045 warrants (0.03% post-issue) - Ultimate beneficial owners: Sehaj Singh Kukreja and Manmohan Jeet Singh Kukreja

5. Ashok Kumar (Individual): 11,36,363 warrants (0.27% post-issue)

6. Resonance Opportunities Fund (FPI): 28,40,909 warrants (0.68% post-issue) - Controllers: Mr. Kailash Jaulim (Mauritian), Mrs. Rizwana Shaheen Ameer Meea (Mauritian), and Mr. Mihir Dhirajlal Kapadia (British)

7. Alpesh F Agrawal (HUF): 7,10,227 warrants (0.17% post-issue) - Ultimate beneficial owner: Alpesh F Agrawal

8. Saumik Ketan Doshi (HUF): 14,20,454 warrants (0.34% post-issue) - Ultimate beneficial owner: Saumik Ketan Doshi

9. Nexta Enterprises LLP (LLP): 42,61,363 warrants (1.02% post-issue) - Ultimate beneficial owner: Hardik Mahendrabhai Shah

10. Roopali Uppal (Individual): 22,72,727 warrants (0.54% post-issue)

11. Free India Assurance Services Limited (Public company): 5,68,181 warrants (0.14% post-issue) - Ultimate beneficial owner: Manish Mehta

12. Abhishek Sharma (Individual): 5,68,181 warrants (0.14% post-issue)

13. Aamara Capital Private Limited (Public): 2,84,090 warrants (0.07% post-issue) - Ultimate beneficial owner: Kishor Shah

All allottees had nil pre-issue shareholding.

Post-Issue Capital and Control Impact (Annexure C)

Total post-preferential issue shareholding by allottees: 1,87,49,993 equity shares (4.47% of post-issue capital)

The Company confirms there will be no change in the composition of the Board nor any change in the control and management of the Company consequent to the Proposed Preferential Issue.