Nature and Purpose of the Meeting

The Non-Convertible Debenture Committee of the Board of Directors met to approve the allotment of Secured, Rated, Listed, Redeemable, Non-Convertible Debentures (NCDs) issued through a public issue. The meeting was specifically convened for the allotment decision following the public issue.

Details of Resolutions Passed

The Committee approved the allotment of 15,00,000 (Fifteen Lakh) Secured, Rated, Listed, Redeemable, Non-Convertible Debentures of Face Value of ₹1,000/- each.

Allotment Details by Category:

  • Category I: 2 applications for 1,50,000 NCDs → 2 applications allotted 1,50,000 NCDs
  • Category II: 22 applications for 3,96,403 NCDs → 22 applications allotted 3,75,000 NCDs
  • Category III: 1,421 applications for 8,61,188 NCDs (10 technical rejections for 5,051 NCDs) → 1,411 valid applications allotted 7,12,642 NCDs
  • Category IV: 3,644 applications for 2,63,228 NCDs (22 technical rejections for 870 NCDs) → 3,622 valid applications allotted 2,62,358 NCDs
  • Additionally, 9 applications with 1,920 NCDs were not registered

Financial Impact

The total capital raised through the allotment is ₹150 crore (15,00,000 NCDs × ₹1,000 face value). The issue had a base size of ₹75 crore with a green shoe option to retain oversubscription up to ₹75 crore, aggregating to ₹150 crore issue limit.

Timing of the Meeting

The Committee Meeting commenced at 10:45 AM and concluded at 11:00 AM on Tuesday, October 13, 2026.

Compliance References

The disclosure is made pursuant to Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"). The requisite details are provided in terms of the SEBI Master Circular dated October 15, 2025.

Security Details

The NCDs are secured by a pari passu charge over the Trade Receivables and MTF of the Company, created in favour of the Debenture Trustee. A security cover of at least 110% of the outstanding principal amounts of NCDs and all interest due must be maintained at all times until the Final Settlement Date.

NCD Series Details (Annexure I)

The NCDs were issued in six series with varying terms:

| Series | Tenor | Coupon Rate | Effective Yield | Payment Frequency | Maturity Amount |

| I | 24 months | 9.50% | 9.50% | Annual | ₹1,000 |

| II | 24 months | NA | 9.50% | Cumulative | ₹1,199.03 |

| III | 36 months | 9.75% | 9.75% | Annual | ₹1,000 |

| IV | 36 months | NA | 9.75% | Cumulative | ₹1,321.95 |

| V | 60 months | 9.57% | 10.00% | Monthly | ₹1,000 |

| VI | 60 months | 10.00% | 10.00% | Annual | ₹1,000 |

Minimum application was ₹10,000 (10 NCDs) across all series. Face value was ₹1,000 per NCD with multiples of ₹1,000 thereafter.

Additional Material Disclosures

The NCDs shall be listed on BSE Limited. There have been no previous defaults in payment of interest/principal for a period of more than three months from due date. No cancellation or termination of the issuance proposal occurred.