The corrigendum provides clarifications and rectifications in the explanatory statement relating to Item No. 1 and 2 of the EGM Notice concerning the proposed preferential issue of equity shares and fully convertible warrants.

Key Corrections Made:

Point No. 7 - Basis of Issue Price:

  • Rectified typographical error in the valuation price determined by registered valuer Mr. Krishna Chaitanya Janga (Reg No. IBBI/RV/05/2019/12328)
  • Valuation price corrected from ₹10.02 to ₹10.11 per equity share
  • The 90-day VWAP preceding Relevant Date: ₹10.10 per share
  • The 10-day VWAP preceding Relevant Date: ₹9.94 per share
  • Board decided issue price at ₹10.50 per share, higher than all calculated prices

Point No. 8 - Shareholding Pattern:

  • Revised classification of shares under Non-Institutional Investors category (Individuals, Body Corporate, Others including HUF, LLP & NRI)
  • Revised number of shares and percentage shareholding on pre-issue, post-issue and fully diluted basis
  • Revisions do not change aggregate Public Shareholding, total paid-up equity share capital, or proposed Preferential Issue

Point No. 11 - Proposed Allottee Details:

  • Five Elements Resources Private Limited: Pre-issue shareholding revised from 70,000 to 2,30,000 Equity Shares (1.44%)
  • Topfilings India Capital Market Private Limited: Pre-issue shareholding of 10,000 Equity Shares (0.062%) incorporated
  • Post-issue shareholding percentages updated accordingly for both entities

Preferential Issue Details:

  • Total equity shares to be allotted: Up to 54,50,000 shares
  • Total convertible warrants to be allotted: Up to 35,00,000 warrants
  • Post full conversion of warrants: Total 2,49,65,050 shares outstanding

Shareholding Pattern Changes:

Pre-issue:

  • Promoter Shareholding: 58,75,050 shares (36.68%)
  • Public Shareholding: 1,01,40,000 shares (63.32%)

Post-issue (equity shares only):

  • Promoter Shareholding: 58,75,050 shares (27.37%)
  • Public Shareholding: 1,55,90,000 shares (72.63%)

Post full warrant conversion:

  • Promoter Shareholding: 68,75,050 shares (27.54%)
  • Public Shareholding: 1,80,90,000 shares (72.46%)

Major Allottees and Their Holdings:

  • Five Elements Resources Pvt Ltd: 20,00,000 equity shares (10.39% post-issue, 8.93% fully diluted)
  • Manisha Mayank: 15,00,000 equity shares (6.99% post-issue, 6.01% fully diluted)
  • Jyoti Tuli: 7,00,000 equity shares (3.26% post-issue, 2.80% fully diluted)
  • Topfilings India Capital Market Pvt Ltd: 14,50,000 warrants (5.85% fully diluted when converted)
  • Shiva Explosives India Private Limited: 10,00,000 warrants (4.03% fully diluted when converted)

The corrigendum forms an integral part of the original EGM Notice dated October 06, 2026 and addendum dated October 14, 2026. All other particulars, terms and conditions remain unchanged except for the express modifications outlined.