Board Meeting Details

The Board of Directors meeting was held on Friday, 30th October 2026, commencing at 03:00 PM and concluding at 03:50 PM.

Key Decision

The Board considered and approved the allotment of 4,65,000 (Four Lakh Sixty-Five Thousand) equity shares of face value of ₹10 each pursuant to conversion of warrants into equity shares at a premium of ₹226 per equity share.

Transaction Details

  • Total shares allotted: 4,65,000 equity shares
  • Face value: ₹10 per share
  • Premium: ₹226 per share
  • Total issue price per share: ₹236 (₹10 face value + ₹226 premium)
  • Remaining exercise price paid: ₹177 per warrant (75% of issue price)
  • Total funds received: ₹8,23,05,000 (Rupees Eight Crore Twenty-Three Lakh Five Thousand Only)

Warrant Terms

The warrants were issued with the following terms:

  • Tenure not exceeding 18 months from date of allotment
  • Each warrant carries right to subscribe to 1 equity share
  • Exercise period: From date of warrant allotment until expiry of 18 months
  • Initial payment: 25% of warrant issue price received at subscription
  • Balance 75% payable upon exercise of warrants
  • Unexercised warrants after 18 months lapse, with paid amount forfeited by company

Capital Structure Impact

  • Pre-allotment paid-up capital: ₹26,41,82,600 (Rupees Twenty Six Crore Forty One Lakh Eighty Two Thousand and Six Hundred Only)
  • Post-allotment paid-up capital: ₹26,88,32,600 (Rupees Twenty-Six Crore Eighty-Eight Lakh Thirty-Two Thousand Six Hundred Only)
  • Increase in capital: ₹46,50,000
  • The newly allotted shares rank pari-passu with existing equity shares

Allottee Details

| S. No. | Name of Allottee | Pre-allotment Shares | Pre-allotment % | Warrants Allotted | Warrants Previously Converted | Current Conversion | Post-allotment Shares | Post-allotment % |

| 1 | MIHIR NAVINCHANDRA SHAH | 0 | 0 | 10,000 | 0 | 10,000 | 10,000 | 0.04 |

| 2 | MAMTA KICHARA | 1,500 | 0.01 | 2,500 | 1,500 | 1,000 | 2,500 | 0.01 |

| 3 | DIVINE SUITING PRIVATE LIMITED | 54,02,400 | 20.45 | 24,00,000 | 4,00,000 | 384,000 | 57,86,400 | 21.52 |

| 4 | PAYAL TANDAN SHRIVASTAVA | 0 | 0 | 60,000 | 0 | 60,000 | 60,000 | 0.22 |

| 5 | SHAH SHAURIN VIJAYKUMAR | 0 | 0 | 10,000 | 0 | 10,000 | 10,000 | 0.04 |

| TOTAL | 54,03,900 | 20.46 | 24,82,500 | 4,01,500 | 465,000 | 58,68,900 | 21.83 |

Shareholding Pattern Change

| Category | Pre-conversion Shares | Pre-conversion % | Post-conversion Shares | Post-conversion % |

| Promoters and Promoter Group | 1,65,69,636 | 62.72 | 1,69,53,636 | 63.06 |

| Public | 98,48,624 | 37.28 | 99,29,624 | 36.94 |

| TOTAL | 2,64,18,260 | 100.00 | 2,68,83,260 | 100.00 |

Reference

In-Principle approval received on January 23, 2026 vide Letter No. NSE/LIST/52250