Meeting Details

The Board of Directors meeting was held on September 3, 2026, commencing at 11:00 a.m. and concluding at 11:30 a.m.

Key Decisions Approved

1. Authorized Share Capital Increase

The Board approved increasing the Authorised Share Capital of the Company from ₹18,10,00,000 (Rupees Eighteen Crore Ten Lakhs) divided into 1,81,00,000 equity shares of ₹10 each to ₹19,10,00,000 (Rupees Nineteen Crore Ten Lakhs) divided into 1,91,00,000 equity shares of ₹10 each. This approval is subject to shareholder approval.

2. Preferential Issue of Convertible Warrants

The Board approved the issuance of up to 1,42,858 (One Lakh Forty-Two Thousand Eight Hundred Fifty-Eight) share warrants to promoters of the Company on a preferential basis. Each warrant is convertible into one fully paid-up equity share of the Company having face value of ₹10 within 18 months from the date of allotment.

Key Terms of Warrant Issue:

  • Issue price: ₹280 per warrant (including ₹270 as premium)
  • Total issue size: ₹4,00,00,240 (Rupees Four Crores Two Hundred Forty)
  • Payment terms: 25% payable at application, 75% payable at conversion
  • Conversion period: 18 months from allotment date
  • Warrants can be converted in one or more tranches
  • Subject to lock-in requirements as per SEBI ICDR Regulations
  • Requires approval of shareholders and Stock Exchange

Allottee Details:

  • Ajay Jaiswal (Promoter): 35,715 warrants → Post-issue holding: 36,37,207 shares (19.97%)
  • Vishal Jaiswal (Promoter): 35,715 warrants → Post-issue holding: 35,28,679 shares (19.37%)
  • Shikha Jaiswal (Promoter): 35,714 warrants → Post-issue holding: 5,91,990 shares (3.25%)
  • Niharika Jaiswal (Promoter): 35,714 warrants → Post-issue holding: 7,06,052 shares (3.88%)

Current Promoter Holdings:

  • Ajay Jaiswal: 36,01,492 shares (19.93%)
  • Vishal Jaiswal: 34,92,964 shares (19.33%)
  • Shikha Jaiswal: 5,56,276 shares (3.08%)
  • Niharika Jaiswal: 6,70,338 shares (3.71%)

3. Material Related Party Transactions

The Board approved several material related party transactions involving the material subsidiary, M/s Sai Machine Tools Private Limited:

  • With M/s Prakhar Industries (subject to shareholder approval)
  • With M/s SMT Plast (subject to shareholder ratification)
  • With M/s Prakhar Industries (subject to shareholder ratification)
  • With M/s Softcare Solutions (subject to shareholder ratification)
  • With Mr. Ajay Jaiswal (subject to shareholder ratification)

Additionally, material related party transactions between subsidiary M/s Chemerix Life Sciences Private Limited and M/s Prakhar Industries were approved, subject to shareholder approval.

4. Other Approvals

  • Approved the Board's Report along with all annexures including Management Discussion and Analysis Report, Secretarial Audit Report, and Corporate Governance Report for Financial Year 2025-26
  • Approved the appointment of Mr. Soumya Bumb, Practicing Chartered Accountant (MRN: 463915)