Summary of Key Information:
Reporting Period (Quarter/Year): Not Applicable
Nature of Filing / Announcement: Outcome of Board Meeting - Preferential Issue Modification
Audit Opinion:
Not Specified
Key Financial Highlights:
Not Specified
Corporate Actions:
The Board of Directors approved a modification to the preferential issue of equity shares originally approved on September 1, 2026:
- Preferential Issue Details: Issue of up to 28,09,70,000 equity shares of face value ₹1 each at ₹2.60 per share (including premium of ₹1.60 per share)
- Total Issue Amount: Approximately ₹73.05 crore (based on maximum shares)
- Reason for Modification: Certain proposed allottees were disqualified under Regulation 159 and 167 of SEBI (ICDR) Regulations, 2018
Disqualified Allottees (Table 1):
- Mahendra Kumar Kawad And Alka Kawad (Belong To Reliable Solution - Partnership Firm): 2,00,00,000 shares
- Sanjay Thakur And Niranjan Jadhav (Belong To Kusum Infrastructure - Partnership Firm): 1,00,00,000 shares
- Shyam Goenka: 50,00,000 shares
- Dhananjay Tikariha: 40,00,000 shares
- Manoram Agencies Dealers Private Limited: 25,00,000 shares
- Sanyog Finlease Private Limited: 20,00,000 shares
- Vidhya Sagar Loya: 12,50,000 shares
- Paramjeet Singh Makani: 10,00,000 shares
- Total Disqualified Shares: 5,07,50,000 shares
New Allottees (Table 2):
- Ashish Kacholia: 3,20,00,000 shares
- Gautam Udani: 45,00,000 shares
- Prashant Sanghvi: 25,00,000 shares
- Farah Shapur Dilkhush: 25,00,000 shares
- Nikesh K Shah Jointly with Falguni N Shah: 15,00,000 shares
- Smriti Amar Hemrajani: 15,00,000 shares
- Anand Loya: 12,50,000 shares
- Mitul Prafulbhai Mehta: 9,50,000 shares
- Heetaben Amar Maurya: 9,50,000 shares
- Manan Khemka: 5,00,000 shares
- Ronak Dharmesh Chavda: 5,00,000 shares
- Incipience Dealers LLP: 5,00,000 shares
- Yash Manoj Bajaj: 4,00,000 shares
- Mr. Prakshal Jain (belong to Ascendra Investments Partnership Firm): 4,00,000 shares
- Manoj S Bajaj: 4,00,000 shares
- Kanta Anil Jain: 4,00,000 shares
- Total Replacement Shares: 5,07,50,000 shares
Complete Allottee List (Schedule A) - Promoters:
- Sanjay Chowdhri (Promoter): 5,50,00,000 shares (₹14.30 crore investment)
- Abhinav Chowdhri (Promoter): 50,00,000 shares (₹1.30 crore investment)
- Pranav Chowdhri (Promoter): 50,00,000 shares (₹1.30 crore investment)
- Lalita Chowdhri (Promoter): 50,00,000 shares (₹1.30 crore investment)
Key Non-Promoter Allottees:
- Ashish Kacholia: 3,20,00,000 shares (₹8.32 crore investment)
- KUNJANA . DEDHIA: 2,25,00,000 shares (₹5.85 crore investment)
- ANIL V. DEDHIA: 1,25,00,000 shares (₹3.25 crore investment)
- SCM INDIA PVT LTD: 1,00,00,000 shares (₹2.60 crore investment)
- AISHA INFRA LLP: 80,00,000 shares (₹2.08 crore investment)
- KUSHAL JAYESH KHANDWALA: 80,00,000 shares (₹2.08 crore investment)
Important Notes:
- All other particulars including issue size, issue price, maximum number of equity shares remain unchanged
- There is no change in terms for Convertible Warrants as disclosed in September 1, 2026 outcome
- Total of 79 investors participating in the preferential issue
Other Significant Information:
- The preferential issue is subject to shareholder approval
- Issue price determined in accordance with SEBI ICDR Regulations