Company Overview

Business Description: The company operates in environmental technologies sector, though specific business operations are not detailed in this addendum document.

Corporate Office: 2201-2202, Rupa Renaissance, D-33, Turbhe MIDC Road

Contact Person: Shweta Deshpande, Company Secretary and Compliance Officer

Corporate Identity Number: U37003MH2005PLC15223

Offer Details

Offer Type: Initial Public Offer of Equity Shares

Listing: Main Board of BSE Limited and National Stock Exchange of India Limited

Price Band: ₹313 to ₹330 per Equity Share

Capital Structure

Pre-Offer Paid-up Equity Share Capital: 93,400,047 Equity Shares of face value ₹2 each

Post-Offer Share Capital: Subject to finalization of Basis of Allotment

Shareholding Pattern Pre-Offer (as of October 23, 2026):

  • Promoters: 39,322,623 shares (42.10%)
  • Promoter Group (other than Promoters): 2,931,213 shares (3.14%)
  • Additional top 10 Shareholders: 33,761,387 shares (36.14%)
  • Other public shareholders: 17,396,047 shares (18.62%)

Post-Offer Shareholding Projection:

At lower price band (₹313):

  • Promoters: 34,652,623 shares (35.29%)
  • Promoter Group: 2,931,213 shares (2.98%)
  • Additional top 10: 22,855,387 shares (23.27%)
  • Other public: 37,764,379 shares (38.46%)

At upper price band (₹330):

  • Promoters: 34,652,623 shares (35.38%)
  • Promoter Group: 2,931,213 shares (2.99%)
  • Additional top 10: 22,855,387 shares (23.33%)
  • Other public: 37,517,501 shares (38.30%)

Recent Share Transfers

Secondary Transfers Completed:

  • Total 2,757,579 Equity Shares transferred representing 2.95% of pre-Offer paid-up Equity Share capital
  • Total consideration: ₹910.00 million
  • Transfer price: ₹330.00 per Equity Share

Specific Transactions:

1. Asolkar Tradecraft Private Limited to Abakkus Flexi Edge Fund - I: 623,637 shares (0.67%) for ₹205.80 million

2. Asolkar Tradecraft Private Limited to Abakkus Growth Fund - Open Ended: 740,000 shares (0.79%) for ₹244.20 million

3. Asolkar Tradecraft Private Limited to Carnelian Asset Management & Advisors Private Limited: 696,970 shares (0.75%) for ₹230.00 million

4. Sandeep Sudhakar Asolkar (jointly with Priya Sandeep Asolkar) to Neo Prime Fund: 303,031 shares (0.32%) for ₹100.00 million

5. Sandeep Sudhakar Asolkar (jointly with Priya Sandeep Asolkar) to Nabs Equity: 90,910 shares (0.10%) for ₹30.00 million

6. Sandeep Sudhakar Asolkar (jointly with Priya Sandeep Asolkar) to IIFL Late-Stage Private Equity Fund: 303,031 shares (0.32%) for ₹100.00 million

Updated Promoter Shareholding Post-Transfer:

  • Sandeep Sudhakar Asolkar (jointly with Priya Sandeep Asolkar): 17,388,498 shares (18.61%) from 18,085,470 shares (19.36%)
  • Asolkar Tradecraft Private Limited: 2,917,713 shares (3.12%) from 4,978,320 shares (5.33%)

Financial Metrics

Weighted Average Cost of Acquisition:

  • Last one year preceding Addendum date: ₹308.78 per Equity Share
  • Last three years preceding Addendum date: ₹37.82 per Equity Share
  • Cap Price (₹330) is 1.07 times the one-year WACA and 8.73 times the three-year WACA

Promoter Acquisition Costs:

  • Sandeep Sudhakar Asolkar: ₹0.44 per Equity Share
  • Sandeep Sudhakar Asolkar (jointly with Priya Sandeep Asolkar): ₹36.72 per Equity Share
  • Saketchandrasingh Pratapsingh Dhandoriya: ₹36.72 per Equity Share

Risk Factors

Updated Risk Disclosure: The average cost of acquisition of Equity Shares for Selling Shareholders may be lower than the Offer Price, with updated acquisition costs provided in the addendum.

Management & Promoters

Promoters: Sandeep Sudhakar Asolkar, Priya Sandeep Asolkar, Prachiti Sandeep Asolkar, and Saketchandrasingh Pratapsingh Dhandoriya

Key Personnel: Shweta Deshpande serves as Company Secretary and Compliance Officer

Legal & Compliance

Addendum Date: October 23, 2026

Original RHP Date: October 19, 2026

Regulatory Filings: Filed with Registrar of Companies, Mumbai-II at Navi Mumbai and submitted with SEBI and Stock Exchanges

Certifying Authority: M/s H H Dedhia & Associates, Chartered Accountants provided certificates dated October 23, 2026

Pledge Disclosure: 2,917,713 Equity Shares held by Asolkar Tradecraft Private Limited have been pledged in favor of Tata Capital Limited as security for a term loan facility availed pursuant to a specific agreement for loan against securities dated May 20, 2026

Book Running Lead Managers

1. IIFL Capital Services Limited (formerly IIFL Securities Limited)

2. JM Financial Limited

3. Nuvama Wealth Management Limited

Registrar to the Offer

MUFG Intime India Private Limited (formerly Link Intime India Private Limited)