Key Decisions Approved

1. Preferential Issue of Warrants

  • The Board approved issuance of up to 14,00,000 (Fourteen Lakh) fully convertible warrants on a preferential basis
  • Each warrant convertible into one fully paid-up equity share of face value ₹10 each
  • Issue price: ₹71.30 per warrant
  • Aggregate issue size: ₹9,98,20,000 (Rupees Nine Crore Ninety-Eight Lakh Twenty Thousand)
  • Subject to shareholder approval and regulatory approvals including stock exchange in-principle approval
  • Compliance with SEBI ICDR Regulations, 2018 Chapter V

Proposed Allottees (All Promoters):

  • Dharmendra Sharad Gor: 12,00,000 warrants (Promoter)
  • Neera D Gor: 1,00,000 warrants (Promoter)
  • Harsh D Gor: 1,00,000 warrants (Promoter/Promoter Group)

Payment Terms:

  • 25% of warrant issue price payable at time of subscription and allotment
  • Balance 75% payable upon exercise of warrants
  • Warrants must be exercised within 18 months from allotment date
  • Unexercised warrants after 18 months will lapse with amounts forfeited

2. Extraordinary General Meeting

  • EGM scheduled for Wednesday, November 18, 2026
  • Purpose: To seek shareholder approval for preferential warrant issue
  • Cut-off date for voting eligibility: November 11, 2026

3. Scrutinizer Appointment

  • Appointed Surana and Kothari Associates LLP as scrutinizer for e-voting process

Objects of the Issue

Proceeds will finance:

  • Business expansion
  • Technology development
  • Project execution in industrial wastewater treatment, water and resource recovery, recycling, zero liquid discharge
  • Renewable energy and solar thermal systems
  • Allied engineering solutions
  • Research and development expenditure
  • Engineering, procurement, manufacturing
  • Plant and machinery, installation, project implementation
  • Related working capital requirements

Shareholding Impact (Post Full Conversion)

Dharmendra Sharad Gor:

  • Pre-issue holding: 62,73,266 shares
  • Warrants allotted: 12,00,000
  • Post-conversion holding: 74,73,266 shares (53.20%)

Neera D Gor:

  • Pre-issue holding: 10,26,116 shares
  • Warrants allotted: 1,00,000
  • Post-conversion holding: 11,26,116 shares (8.02%)

Harsh D Gor:

  • Pre-issue holding: 56,618 shares
  • Warrants allotted: 1,00,000
  • Post-conversion holding: 1,56,618 shares (1.11%)

Meeting Details

  • Board meeting commenced at 06:30 PM and concluded at 08:30 PM on October 19, 2026
  • Follow-up to previous intimation dated October 15, 2026