This is a regulatory disclosure filed under Regulation 30 of the SEBI (LODR) Regulations, 2015, consisting of a clarification letter and the main outcome of a board meeting.
The clarification letter, dated September 2, 2026, was submitted in response to a query from the stock exchanges. It provides the commencement and conclusion times for the Board meeting held on September 1, 2026, which were 16:30 hrs and 18:00 hrs, respectively.
The main announcement details the outcome of the aforementioned Board meeting. The meeting was a continuation of a previous board meeting dated August 20, 2026, where the Board had initially approved the issuance of 2,25,00,000 (Two Crore Twenty-Five Lakh) warrants, each carrying a right to subscribe to one equity share, by way of a preferential allotment. This approval was subject to member approval at the Annual General Meeting (AGM).
A key development was the revision of the AGM date. The intimation of the AGM date was provided on August 25, 2026, and the meeting is now scheduled for September 26, 2026. Consequently, the Board on September 1, 2026, approved August 27, 2026, as the revised 'Relevant Date' as per Regulation 161 of the SEBI ICDR Regulations.
Due to this change in the Relevant Date, a revised valuation report from a Registered Valuer was obtained and approved by the Board. This report arrived at a price of ₹24.01 per warrant. The Board, however, approved a final issue price of ₹24.16 per warrant for the warrants, in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
The disclosure explicitly states that except for this revision in the price, all other terms and conditions of the proposed preferential issue remain completely unchanged. This includes the number of warrants to be issued (2.25 crore), the identity and category of the proposed allottees, the entitlement to equity shares upon exercise, the tenure of the warrants, and the payment terms.