Meeting Details

  • Date: Wednesday, November 18, 2026
  • Time: 01:00 PM
  • Mode: Video Conferencing (VC)/Other Audio-Visual Means (OAVM)

Resolution Details

Special Resolution: Issue of Fully Convertible Warrants on Preferential Basis

Transaction Summary

The company proposes to issue up to 14,00,000 (Fourteen Lakh) fully convertible warrants to promoter group members at ₹71.30 per warrant, aggregating to ₹9,98,20,000 (Nine Crore Ninety-Eight Lakh Twenty Thousand).

Allottee Details

| Sr.No | Name | Warrants | Amount | Category |

| 1 | Dharmendra Sharad Gor | 12,00,000 | ₹8.56 Cr | Promoter |

| 2 | Neera D Gor | 1,00,000 | ₹0.71 Cr | Promoter |

| 3 | Harsh D Gor | 1,00,000 | ₹0.71 Cr | Promoter/Promoter Group |

Warrant Terms

  • Each warrant convertible into one equity share of face value ₹10
  • Conversion period: Maximum 18 months from allotment date
  • Warrant issue price: ₹71.30 per warrant (₹10 face value + ₹61.30 premium)
  • Upfront payment: 25% of issue price (₹17.825 per warrant)
  • Balance 75% payable on conversion
  • Warrants allotted in dematerialized form

Pricing Basis

  • Relevant date: October 19, 2026 (30 days prior to EGM)
  • Floor price determined as per SEBI ICDR Regulations:
  • 90-day VWAP: ₹71.30
  • 10-day VWAP: ₹56.31
  • Valuation report by CA Jainam Hitesh Shah (IBBI Registration No. IBBI/RV/07/2020/13500)

Objects of Issue

To finance:

  • Business expansion
  • Technology development
  • Project execution in industrial wastewater treatment, water resource recovery, recycling, zero liquid discharge
  • Renewable energy and solar thermal systems
  • Allied engineering solutions
  • Research and development expenditure
  • Working capital requirements

Lock-in Requirements

  • Pre-preferential allotment shareholding locked-in for 90 trading days from warrant allotment
  • Equity shares from conversion subject to lock-in as per Regulation 167 of SEBI ICDR Regulations

Shareholding Impact

Pre-issue (as of October 19, 2026):

  • Total shares: 12,647,728
  • Promoter holding: 58.67% (7,421,127 shares)
  • Public holding: 41.33% (5,226,601 shares)

Post-issue (assuming full conversion):

  • Total shares: 14,047,728
  • Promoter holding: 62.79% (8,821,127 shares)
  • Public holding: 37.21% (5,226,601 shares)

Timeline

  • Warrant allotment: Within 15 days of resolution approval (or 15 days after regulatory approvals)
  • Conversion period: Up to 18 months from allotment
  • Unexercised warrants lapse after 18 months with forfeiture of amount paid

Corporate Governance

  • No change in management or control
  • Company not declared wilful defaulter
  • No fugitive economic offenders among promoters/directors
  • Compliant with continuous listing requirements

E-Voting Details

  • Voting period: November 15, 2026 (10:00 AM) to November 17, 2026 (05:00 PM)
  • Cut-off date: November 10, 2026
  • Scrutinizer: Surana and Kothari Associates LLP
  • Results declaration: Within 2 working days on company website and Bigshare website

Document Availability

  • Valuation report available on company website
  • Company Secretary's certificate available for inspection
  • All documents available as per applicable law