Date: June 15, 2026

Board Meeting Outcomes

This filing provides clarifications in response to observations made by the National Stock Exchange of India Limited vide its letter dated June 09, 2026 regarding the preferential allotment approved in the Extra-Ordinary General Meeting held on May 18, 2026.

Key decisions clarified:

  • Issuance and allotment of 2,00,00,000 (two crores) fully convertible warrants to persons belonging to promoter category and non-promoter category on preferential basis
  • Shareholders approved the preferential issue in the EGM held on May 18, 2026

Financial Implications

Preferential Issue Details

  • Number of warrants: 2,00,00,000 (two crores)
  • Issue price: ₹40 per warrant
  • Relevant date for pricing: April 17, 2026

Pricing Compliance

  • The company obtained a valuation report from Amit Jaste and Associates, Practising Company Secretaries
  • Revised floor price calculation based on 90/10 trading days preceding April 17, 2026:
  • 90-day volume weighted average price: ₹39.90
  • 10-day volume weighted average price: ₹34.63
  • Minimum offer price: ₹39.90
  • The certificate confirms the issue price of ₹40 complies with SEBI ICDR Regulations, 2018 pricing requirements
  • The highest trading volume during preceding 90 trading days was recorded on NSE

Shareholding Pattern Impact

Pre and post preferential issue shareholding on fully diluted basis:

Promoter and Promoter Group

  • Pre-issue: 70,392,245 shares (30.38%)
  • Post-issue: 80,392,245 shares (31.24%)
  • Individuals/HUF: Increase from 28,381,235 shares (12.25%) to 38,381,235 shares (14.92%)
  • Other promoters: 42,011,010 shares (18.13% reducing to 16.33% due to dilution)

Public Shareholding

  • Pre-issue: 161,304,866 shares (69.62%)
  • Post-issue: 176,924,866 shares (68.76%)

Key Changes in Public Shareholding

  • Foreign Portfolio Investors: 1,181,964 shares (0.51% reducing to 0.46%)
  • Key Managerial Personnel: 15,364,919 shares (6.63% reducing to 5.97%)
  • Resident individuals (>₹2 lakh): Increase from 56,699,275 shares (24.47%) to 72,319,275 shares (28.11%)
  • Bodies Corporate: 21,730,129 shares (9.38% reducing to 8.44%)

Valuation Report Clarification

  • The company obtained a valuation report considering conservative view as post-allotment shareholding of Mr. Siddharth Vasudevan Moorthy would reach 5.79%
  • However, as per Regulation 166A of SEBI (ICDR) Regulations, 2018, no valuation report was required since there is no change in control and allotment is not more than five percent to any allottee

Documentation

  • Revised pricing certificate attached as Annexure A
  • Updated shareholding pattern on fully diluted basis attached as Annexure B
  • The filing is made pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015

Company Address

  • Office: 312, 6th Floor, The Platina, Tanvi Complex, S.Y. Road, Dahisar East, Mumbai - 400068
  • Tel: 022-4515 9990