Scrip Code / Symbol: BSE: 533275 / NSE: SHAH

Nature and Purpose of the Meeting

The Rights Issue Committee meeting was held to approve the allotment of equity shares pursuant to a rights issue. The meeting was conducted in accordance with the Letter of Offer and the basis of allotment finalized in consultation with the Registrar to the Issue, MUFG Intime India Private Limited, and as approved by BSE Limited, the designated stock exchange.

Details of Resolutions Passed

The Committee approved the allotment of 9,71,63,362 Rights Equity Shares of face value ₹1 each at an Issue Price of ₹4.86 per share (including a premium of ₹3.86 per share).

The Rights Entitlement Ratio was 36 Rights Equity Shares for every 311 equity shares held on the record date.

The Issue was offered to 1,036 allottees, comprising 1,026 eligible shareholders and 10 renouncees.

Promoter Mrs. Mona Viral Shah subscribed to 3,16,28,600 shares via the conversion of an unsecured loan of ₹15,37,15,000.

Financial Impact

The total amount raised through the rights issue is ₹47,22,13,943.32.

The paid-up equity share capital of the Company has increased from ₹88,52,10,866 (comprising 88,52,10,866 equity shares) to ₹98,23,74,228 (comprising 98,23,74,228 equity shares), an increase of ₹9,71,63,362.

The promoter and promoter group holding increased from 29.15% (25,80,37,226 shares) pre-issue to 29.49% (28,96,65,826 shares) post-allotment.

Timing of the Meeting

The Rights Issue Committee meeting commenced at 11:15 AM IST and concluded at 11:40 AM IST on June 30, 2026.

Compliance References

The disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III and SEBI Master Circular no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

The Issue was conducted as per the SEBI ICDR Regulations and the Companies Act, 2013.

BSE Limited was the designated stock exchange for the Issue.

Other Material Disclosures

  • The Issue Period was from June 11, 2026, to June 25, 2026.
  • The Record Date was Wednesday, May 27, 2026.
  • The Issue Size offered was 10,24,68,139 Rights Equity Shares, aggregating up to ₹4,980.00 Lakh.
  • The subscription level was 94.82% of the Issue Size (net of technical rejections).
  • Listing and trading approval is to be obtained from BSE & NSE.
  • There was no cancellation or termination of the proposal for issuance of securities.

The document does not disclose the specific use of proceeds from the rights issue.