Summary of Key Information:
Nature of Filing / Announcement: Outcome of Board Meeting under Regulation 30 of SEBI Listing Regulations
Corporate Actions:
1) Fund raising by way of a Preferential Issue
- Approval for issuance of equity shares to promoters on preferential basis
- Total issue: 12,50,000 equity shares of face value ₹1 each (post-split adjusted)
- Allottees and allocation:
- Nikhil Kumar (Promoter): 6,25,000 shares
- Mohib Nomanbhai Khericha (Promoter): 6,25,000 shares
- Issue price: ₹600 per equity share (including premium of ₹599 per share)
- Pre-issue shareholding of Nikhil Kumar: 2,59,30,640 shares (8.30%)
- Post-issue shareholding of Nikhil Kumar: 2,65,55,640 shares (8.47%)
- Post-issue shareholding of Mohib Khericha: 6,25,000 shares (0.20%)
- Subject to shareholder approval and regulatory approvals
2) Fund raising by way of a Qualified Institutions Placement (QIP)
- Approval for raising funds through QIP for aggregate amount not exceeding ₹600 Crores
- Issuance of Equity Shares or any other securities in one or more tranches
- Subject to regulatory/statutory approvals and shareholder approval
3) Convening of Extra-Ordinary General Meeting
- EGM scheduled for September 10, 2026
- Meeting to be conducted through video conferencing or other audio-visual means
- Purpose: Seeking shareholder approval for preferential issue and QIP
4) Cut-off Date for EGM
- Thursday, September 3, 2026 fixed as cut-off date
- For determining eligibility of equity shareholders entitled to vote electronically
Other Significant Information:
- Preferential issue price determined in accordance with Chapter V of SEBI ICDR Regulations, 2018
- Post-issue shareholding percentages do not account for possible change from Qualified Institutional Placement