Key Quantitative Figures & Dates

  • AGM Date: Wednesday, September 30, 2026, at 11:30 AM IST
  • Preferential Issue Size: Up to ₹16.10 crores
  • Number of Shares: Up to 10,00,000 (Ten Lakh) equity shares
  • Issue Price: ₹161 per share (Face Value ₹10 + Premium ₹151)
  • Floor Price: ₹160.01 per share (as per SEBI ICDR Regulations)
  • Relevant Date for Pricing: Monday, August 31, 2026
  • Cut-off Date for E-voting: Wednesday, September 23, 2026
  • Remote E-voting Period: From 9:00 AM IST on Saturday, September 26, 2026, to 5:00 PM IST on Tuesday, September 29, 2026
  • Allotment Timeframe: To be completed within 15 days from shareholder approval or 15 days from receipt of regulatory approvals
  • Director Remuneration: Mr. Yashas Bhand drew ₹24 lakhs for FY 2025-2026

Parties Involved

  • Proposed Allottee: Mr. Sarang Bhand (Promoter)
  • Registered Valuer: Mr. Manish Motilala Jaju (IBBI registration no. IBBI/RV/06/2019/10947)
  • Scrutinizer: M/s. VKMG & Associates LLP (Mr. Anish Gupta or Mr. Manish Rajnarayan Gupta)
  • RTA: Maashitla Securities Private Limited
  • E-voting Provider: National Securities Depository Limited (NSDL)
  • Stock Exchange: BSE Limited
  • Regulatory Authorities: Ministry of Corporate Affairs (MCA), Securities and Exchange Board of India (SEBI), Reserve Bank of India (RBI)

Purpose & Rationale

The primary special business is to seek approval for a preferential issue of equity shares to the promoter, Mr. Sarang Bhand. The objects of the issue are:

1. Expansion into a Build-Own-Operate (BOO) bioenergy platform (₹12.075 crore, with scope to utilize up to ₹16.10 crore). This includes project development, EPC, land purchase, and working capital. Deployment is planned within 24 months from receipt of funds.

2. General Corporate Purposes (Up to ₹4.025 crore, not exceeding 25% of total proceeds). Deployment is also planned within 24 months.

The funds may be deployed directly or through subsidiaries/SPVs. The company notes the projects are at various bidding stages and have not been awarded yet.

Financial & Capital Structure Impact

  • Pre-Issue Promoter Holding: 23,50,509 shares (15.07%)
  • Post-Issue Promoter Holding (assuming full allotment): 33,50,509 shares (20.19%)
  • Pre-Issue Paid-up Capital: 1,55,98,905 equity shares
  • Post-Issue Paid-up Capital (assuming full allotment): 1,65,98,905 equity shares
  • The undertaking confirms the issue is within the authorized share capital. There will be no change in control or board composition.

Lock-in & Eligibility

  • The equity shares allotted will be subject to lock-in as per Chapter V of SEBI ICDR Regulations.
  • The company undertakes that it, its promoters, or directors are not wilful defaulters or fugitive economic offenders.
  • The proposed allottee has confirmed eligibility under Regulation 159 of SEBI ICDR Regulations and has not sold/transferred any shares in the 90 trading days preceding the relevant date.

Other Business

Ordinary Business:

1. To receive, consider, and adopt the audited standalone and consolidated financial statements for the year ended March 31, 2026, along with reports of the Board and Auditors.

2. To appoint Mr. Yashas Bhand (DIN: 07118419), who retires by rotation, as a Director of the company.

Voting & Meeting Logistics

  • The AGM will be held through Video Conferencing/Other Audio-Visual Means (VC/OAVM). The deemed venue is the Registered Office in Navi Mumbai.
  • Remote e-voting is provided through NSDL. Physical attendance and proxy appointments are dispensed with.
  • Members on the register as of the cut-off date (September 23, 2026) are entitled to vote.
  • The Scrutinizer will submit a report within two working days of the AGM conclusion.

Additional Information

  • The complete Annual Report for FY 2025-26 is available on the company's website and the BSE website.
  • The company has no amounts to transfer to the Investor Education and Protection Fund (IEPF) for FY 2025-26.
  • Securities can be transferred/traded only in dematerialized form.