Key Board Approvals:

1. Authorized Share Capital Increase

  • Approved increase in Authorized Share Capital from existing ₹24,00,00,000 (2.4 crore equity shares of ₹10 each) to ₹25,50,00,000 (2.55 crore equity shares of ₹10 each)
  • Subject to approval of shareholders

2. Preferential Issue of Convertible Warrants

  • Approved issuance of up to 18,90,410 Convertible Warrants of face value ₹10 each
  • Issue price: ₹153 per warrant
  • Aggregate consideration: Up to ₹28,92,32,730
  • To be issued to Promoter and Promoter Group category on preferential basis
  • Subject to approval of shareholders and Stock Exchange
  • Warrants convertible into equal number of equity shares (face value ₹10 each) at ₹153 per share
  • Conversion period: Within 18 months from date of allotment
  • Payment terms: 25% of warrant price payable at allotment, balance 75% payable at conversion
  • Non-conversion within 18 months will result in forfeiture of amount paid and lapse of warrants

Allottee Details:

  • Ankit Jalan (Promoter): Current holding 41,32,474 shares (17.72%), allocated 7,08,905 warrants, post-issue holding 48,41,379 shares (19.21%)
  • Anuj Jalan (Promoter): Current holding 40,20,802 shares (17.25%), allocated 7,08,905 warrants, post-issue holding 47,29,707 shares (18.76%)
  • Daivik Jalan (Promoter): Current holding 15,19,091 shares (6.52%), allocated 4,72,600 warrants, post-issue holding 19,91,691 shares (7.90%)

3. Board Report Adoption

  • Approved and adopted Board Report along with annexures for Financial Year ended March 31, 2026

4. Annual General Meeting

  • Approved Notice convening 44th Annual General Meeting for FY 2025-26
  • Fixed AGM date: Wednesday, September 30, 2026 at 3:00 PM IST through Video Conferencing/Audio Visual Means
  • Book Closure period: September 24, 2026 to September 30, 2026
  • Record/Cut-off Date for AGM eligibility: September 23, 2026

5. Other Appointments

  • Appointed National Securities Depository Limited (NSDL) as agency for remote e-Voting facility for AGM
  • Appointed MR & Associates, Practicing Company Secretary, as Scrutinizer for AGM
  • Approved appointment of MR & Associates as Secretarial Auditor for five consecutive years from FY 2026-27 to FY 2030-31, subject to shareholder approval

6. Management Changes

  • Accepted resignation of Mr. Manan Rajesh Patel (DIN: 03496656) as Executive Director effective close of business hours on September 7, 2026
  • Resignation reason: Completion of open offer process under SEBI Takeover Regulations, 2011
  • No other material reasons for resignation disclosed

7. Policy Updates

  • Considered and updated company policies as per Companies Act, 2013 and SEBI Regulations

8. Fund Utilization Modification

  • Considered modification in objects/utilization of funds raised through Preferential Issue mentioned in EGM dated March 6, 2026

Financial Impact:

  • The preferential warrant issue could raise up to ₹28.92 crore upon full subscription and conversion
  • Capital increase will enable additional equity issuance capacity
  • Director resignation effective immediately with no financial impact disclosed