Key Approvals and Decisions

The Board of Directors meeting, held from 4:00 PM to 4:09 PM on October 19, 2026, considered and approved the following matters:

1. Preferential Issue of Equity Shares: Approved the issuance of up to 65,00,00,000 (Sixty-Five Crore) equity shares of face value ₹1 each for cash at a price of ₹1.66 per share (including a premium of ₹0.66 per share). The total issue size aggregates to ₹107.90 Crore (Rupees One Hundred Seven Crore and Ninety Lakh).

2. Allottees: The shares will be allotted to nine proposed allottees on a preferential basis:

  • (a) Akshay Tulshiram Agonde
  • (b) Al Malaki Foodstuff Trading LLC
  • (c) Bajirao Hariba Desai
  • (d) Laxman Ramchandra Tele
  • (e) Deendayal Ramdhar Yadav
  • (f) Manish Singal
  • (g) Deepali Gupta
  • (h) Kubeir Khera
  • (i) Denvor Capital

3. Approvals Required: The issuance is subject to approval from shareholders at an Extraordinary General Meeting (EGM), and compliance with applicable laws and regulations including Chapter V of the SEBI ICDR Regulations.

4. EGM Arrangements:

  • Approved the draft notice for convening an Extraordinary General Meeting.
  • Appointed M/s Rajeev Bhambri & Associates as scrutinizer for remote e-voting and voting at the EGM.
  • The EGM will be held through Video Conferencing on Saturday, November 21, 2026, at 11:00 A.M.

Additional Disclosure Details (Annexure A)

  • Type of Security: Equity shares
  • Type of Issuance: Preferential allotment
  • Total Securities: Up to 65 crore equity shares aggregating ₹107.90 crore
  • Investor Category: All allottees are non-promoters (public category)
  • Issue Price: ₹1.66 per share, which is higher than the SEBI ICDR minimum price of ₹1.655 per share
  • Number of Investors: 9

Shareholding Impact (Annexure B)

Pre-Issue Shareholding Pattern:

  • Promoter & Promoter Group: 725,681,185 shares (46.29%)
  • Public: 842,037,455 shares (53.71%)
  • Total: 1,567,718,640 shares (100%)

Post-Issue Shareholding Pattern:

  • Promoter & Promoter Group: 725,681,185 shares (32.72%)
  • Public: 1,492,037,455 shares (67.28%)
  • Total: 2,217,718,640 shares (100%)

Individual Allotment Details:

  • Akshay Tulshiram Agonde: 10,80,00,000 shares (4.82% post-issue)
  • Al Malaki Foodstuff Trading LLC: 10,80,00,000 shares (4.82% post-issue)
  • Bajirao Hariba Desai: 10,80,00,000 shares (4.82% post-issue)
  • Laxman Ramchandra Tele: 10,80,00,000 shares (4.82% post-issue)
  • Deendayal Ramdhar Yadav: 10,80,00,000 shares (4.82% post-issue)
  • Manish Singal: 2,80,00,000 shares (1.25% post-issue)
  • Deepali Gupta: 80,00,000 shares (0.36% post-issue)
  • Kubeir Khera: 57,00,000 shares (0.25% post-issue)
  • Denvor Capital: 6,83,00,000 shares (3.05% post-issue)