Key Quantitative Figures

Equity Share Issue (Resolution 2):

  • Total Equity Shares: 12,22,200 equity shares of face value ₹10 each
  • Issue Price: ₹336.60 per share (₹10 face value + ₹326.60 premium)
  • Total Issue Size: ₹41,13,92,520
  • Relevant Date: September 25, 2026 (30 days prior to EGM date)
  • Floor Price: ₹336.57 per share as per SEBI ICDR Regulations

Warrant Issue (Resolution 3):

  • Total Warrants: 5,00,400 warrants convertible into equity shares
  • Warrant Issue Price: ₹336.60 per warrant (25% upfront payment = ₹84.15, 75% exercise price = ₹252.45)
  • Total Issue Size: ₹16,84,34,640
  • Conversion Period: 18 months from allotment date
  • Each Warrant: Convertible into 1 fully paid-up equity share of ₹10 face value

Parties Involved

Equity Share Allottees (23 entities, all Non-Promoter/Public):

1. Bhagwan Singh Chodhary HUF - 1,03,800 shares

2. Gurvinder Singh Bhullar - 66,600 shares

3. Amit Gunchandra Mehta - 59,400 shares

4. Motherbox Technologies Private Limited - 1,48,200 shares

5. Bharat Asan Binyani - 7,200 shares

6. Mohammad Mohibullah Hamidi - 8,400 shares

7. Fincos Technology Solutions Private Limited - 7,200 shares (UBO corrected to Vinod Dixit, PAN: AAIPD2120Q)

8. SKS HUF - 14,400 shares

9. India Equity Fund 1 - 3,04,200 shares

10. Value Prolific Consulting Services Pvt Ltd - 30,000 shares

11. Neeraj Batra - 22,200 shares

12. Diya Deepak Chokhani - 14,400 shares

13. Ramchandra Lath - 14,400 shares

14. Pankaj Gupta - 7,200 shares

15. Viyanka Nemish Shah - 1,00,800 shares

16. Meghna Deepak Shah - 60,000 shares

17. Asset Alliance Securities Private Limited - 50,400 shares

18. Sachin Shashikant Abhyankar - 25,200 shares

19. Bokadia Jitendra Hastimalji - 15,000 shares

20. Adarsh Rent A Car Pvt Ltd - 30,000 shares

21. Rushabh Vinay Nisar HUF - 1,00,800 shares

22. Sachin K Mehta - 22,200 shares

23. Mohit Shivmohan Kapoor - 10,200 shares

Warrant Allottees (10 entities - Mix of Promoter Group and Public):

1. Hardik Desai Family Trust (Promoter Group) - 1,00,800 warrants

2. Hardik Jigishkumar Desai (Promoter) - 99,600 warrants

3. Anjanaben Jigishkumar Desai (Promoter Group) - 49,800 warrants

4. Maniya Hardik Desai (Promoter Group) - 49,800 warrants

5. Ashish Anandsingh Bafna (Non-Promoter) - 25,200 warrants

6. Shikha Ashish Bafna (Non-Promoter) - 25,200 warrants

7. Harddik Ashish Bafna (Non-Promoter) - 25,200 warrants

8. Moksh Ashish Bafna (Non-Promoter) - 24,600 warrants

9. Rupaben Chetanbhai Jariwala (Promoter) - 50,400 warrants

10. Maulik Harendra Bandhara (Non-Promoter) - 49,800 warrants

Purpose and Utilization of Funds

Equity Share Proceeds (₹41.14 crore):

  • Working Capital Requirement: ₹10.29 crore (25.02%)
  • Investments in subsidiaries/associates/JVs and their working capital: ₹20.57 crore (50.00%)
  • Business Expansion and general corporate purposes: ₹10.28 crore (24.98%)
  • Utilization timeline: Within 24 months from receipt of funds

Warrant Proceeds (₹16.84 crore):

  • Working Capital Requirement: ₹4.21 crore (25.00%)
  • Investments in subsidiaries/associates/JVs and their working capital: ₹8.42 crore (50.00%)
  • Business Expansion and general corporate purposes: ₹4.21 crore (25.00%)
  • Utilization timeline: Within 24 months from receipt of funds

Shareholding Pattern Impact

Pre-Issue Capital Structure:

  • Total Shares: 1,19,57,000
  • Promoter & Promoter Group: 74,68,400 shares (62.46%)
  • Public Shareholding: 44,88,600 shares (37.54%)

Post-Issue Capital Structure (assuming full allotment):

  • Total Shares: 1,42,16,000 (including warrant conversion)
  • Promoter & Promoter Group: 80,11,400 shares (56.35%)
  • Public Shareholding: 62,04,600 shares (43.65%)

Pricing Mechanism

The issue price of ₹336.60 per share/warrant was determined as the higher of:

  • 90 trading days' volume weighted average price preceding Relevant Date (September 25, 2026)
  • 10 trading days' volume weighted average price preceding Relevant Date

Valuation report dated October 05, 2026 by Mr. Anurag Singal, Registered Valuer (IBBI/RV/06/2022/14679) was also considered.

Lock-in Requirements

  • Equity shares and warrants subject to lock-in as per SEBI ICDR Regulations
  • Pre-preferential shareholding of allottees locked-in from Relevant Date up to 90 trading days from trading approval date

Timeline for Allotment

  • Allotment to be completed within 15 days from passing of special resolution
  • If regulatory approvals required, within 15 days from receipt of last approval
  • Warrant conversion period: 18 months from allotment date

Certifications and Compliance

  • Certificate from CS Mehul Amareliya (FCS 24321) confirming compliance with SEBI ICDR Regulations
  • Company confirms compliance with continuous listing conditions
  • No preferential allotment made in current financial year
  • No promoters/directors declared as willful defaulters or fugitive economic offenders
  • All proposed allottee PAN details obtained
  • Pre-preferential shareholding in dematerialized form

Corporate Governance

None of the Directors/Key Managerial Personnel (except those participating in warrant issue) are concerned or interested in the resolutions. The existing promoters will continue to maintain control post-issue with no change in management.