Key Board Decisions

1. Preferential Issue of Convertible Warrants

  • Approved raising funds through preferential issue of up to 6,21,00,000 (Six Crore Twenty One Lakh) Convertible Equity Share Warrants
  • Issue price: ₹15 per warrant (including premium of ₹14)
  • Total issue size: ₹93,15,00,000 (Rupees Ninety Three Crore Fifteen Lakh)
  • Warrants convertible to equity shares of ₹1 each
  • Conversion may occur in one or more tranches
  • Valuation report obtained from Mr. A. N. Gawade, Registered Valuer (IBBI Registration No. IBBI/RV/05/2019/10746)
  • Relevant date for preferential issue: July 21, 2026
  • 53 allottees identified, including individuals and corporate entities

Warrant Conversion Terms:

  • Warrants exercisable within 18 months from allotment date
  • 25% of issue price payable on warrant allotment date
  • Remaining 75% payable upon conversion to equity shares
  • Failure to pay remaining amount results in forfeiture of amount paid
  • Amount paid for warrants adjustable against equity share issue price

2. Director Appointments

  • Recommended regularization of Mr. Mahendra Soni (DIN: 11046273) as Independent Director
  • Recommended regularization of Mr. Ranjeet Kumar Pandey (DIN: 02632421) as Independent Director
  • Both appointments recommended for 5-year terms effective from May 30, 2026
  • Mr. Mahendra Soni holds Bachelor of Commerce degree from Rajasthan University
  • Mr. Ranjeet Kumar Pandey holds BCOM and LLB degrees from Ranchi College
  • Neither director is related to any existing directors of the company

3. Memorandum and Articles of Association

  • Approved adoption of amended Memorandum of Association aligned with Companies Act 2013
  • Approved adoption of new set of Articles of Association aligned with Companies Act 2013
  • Changes necessary to align with current legislation while maintaining main objects unchanged
  • Both changes subject to shareholder approval

4. Extraordinary General Meeting

  • EGM scheduled for Thursday, August 20, 2026
  • Meeting to be conducted through Video Conferencing/Other Audio-Visual Means
  • Appointed Prachi Bansal, Practising Company Secretary (Membership No. A43355) as Scrutinizer
  • Detailed resolutions and notice to be dispatched shortly

Meeting Details

  • Board meeting held at Registered Office: 28-37, Banke Bihari Industrial Area, Dehra, Teh. Chomu, Jaipur, Rajasthan, 303806
  • Meeting commenced at 9:00 PM and concluded at 9:30 PM on July 24, 2026