Date: September 12, 2026

Board Meeting Outcomes

The company has received in-principle approval from both BSE Limited and National Stock Exchange of India Limited on September 11, 2026 for the preferential allotment of Compulsorily Convertible Debentures (CCDs).

Fundraising / Financing

Preferential Issue Details:

  • Instrument: Compulsorily Convertible Debentures (CCDs)
  • Quantity: 37,50,000 CCDs
  • Face Value: ₹400 per CCD
  • Total Issue Size: ₹150 crore (37,50,000 × ₹400)
  • Conversion Terms: Each CCD converts into 1 equity share of Re. 1 each
  • Resulting Equity Shares: 37,50,000 equity shares of Re. 1 each
  • Allottee Category: Non-promoters

Approval Process:

  • Approval received from both BSE and NSE on September 11, 2026
  • BSE Reference: LOD/PREF/KS/FIP/775/2026-27
  • NSE Reference: NSE/LIST/56844
  • Company will proceed with allotment within statutory timelines under Chapter V of SEBI (ICDR) Regulations, 2018

Regulatory Conditions:

  • Company must file listing application within 20 days from date of allotment as per SEBI circular SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023
  • Must obtain all statutory approvals from SEBI, RBI, MCA, and other authorities
  • Must comply with all applicable guidelines, regulations, and directions
  • Must submit required documents and pay applicable fees to exchanges

Internal Control Requirements:

  • Company must strengthen internal controls to monitor trades by proposed allottees
  • Must obtain undertaking from allottees confirming they will not do intra-day trading or any sale in company scrip until allotment date
  • Company bears sole responsibility for verifying allottee compliance with Regulation 167(6) of SEBI ICDR regulations, 2018
  • Any non-compliance observed post-undertaking may impact listing of shares

Important Notes:

  • In-principle approval does not constitute final listing approval
  • Exchange reserves right to withdraw approval if information is found incomplete/incorrect/misleading/false or in contravention of regulations
  • Approval does not constitute approval under any other Act/Regulation/rule/byelaws