Summary of Key Information:
Nature of Filing / Announcement: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Date of Board Meeting / Approval: September 29, 2026
Meeting Duration: 11:45 AM to 2:40 PM
Key Financial Highlights:
IPO Proceeds Utilisation:
- Balance IPO proceeds of ₹20.27 Crores remain unutilised as of September 29, 2026
- Originally earmarked for setting up warehouse(s) as per Prospectus dated September 23, 2023
- Previous extension approval granted on March 29, 2026
Corporate Actions:
IPO Fund Utilisation Revision:
- Audit Committee and Board approved extension of timeline for utilisation of balance IPO proceeds
- New utilisation period: Maximum 6 months (on or before March 31, 2027)
- Funds redeployed for setting up new stores instead of warehouses
- Warehouses will now be pursued using internal accruals
- Company confirmed delay will not hinder business operations due to optimal use of satellite warehouses and alternate options
Regulatory Compliance:
- Extension falls within Board's purview - no shareholder approval required
- Company will continue submitting quarterly Monitoring Agency Report and Statement of Deviation to Audit Committee and stock exchanges
Management Changes:
Appointment:
- Ms. Shilpa Kotagiri appointed as Company Secretary and Compliance Officer (Key Managerial Personnel)
- Effective date: October 1, 2026
- Replaces Mr. Bhaskar Teja who resigned effective September 16, 2026
Appointee Details:
- Name: Shilpa Kotagiri
- Date of Birth: September 19, 1980
- Present Address: H.No.6-3-901&900/10, Flat no. A3B, Cosmopolitan, Somajiguda, Hyderabad-500082 (Telangana)
- Contact: 9052245878
- Expertise: Corporate Laws
- Membership Number of ICSI: A23208
Educational Qualifications:
- B.A. LL.B (1998-2003) - Pendekanti Law College, Osmania University, Hyderabad
- LL.M (2005-2007) - Osmania University
- Company Secretary (ACS) (2005-2008) - The Institute of Company Secretaries of India