Key Revisions to EGM Notice

1. Revision to Utilization of Issue Proceeds

A detailed breakdown of the utilization of the ₹84.99 crore proceeds from the proposed preferential issue has been provided:

| Sr. No. | Particulars | Tentative Timeline | Total Amount (₹ in crores) |

| 1. | Funding long-term Working Capital Requirements | 3 months | 46.00 |

| 2. | Purchase of plant and machinery | 6 months | 17.97 |

| 3. | General Corporate Purpose | 12 months | 21.02 |

| | Total | | 84.99 |

Note: All amounts are rounded off to two digits.

Implementation Details:

  • The proposed purchase/procurement of plant and machinery will be from China.
  • This expansion will increase the production capacity of the deep freezer unit from 1,50,000 units per annum to 2,50,000 units per annum.
  • The expansion will be carried out at the company's manufacturing facility, Plant 7, located at Gat No. 38,39 & 40, Janori-Mohadi Road, Village-Mohadi, Tal Dindori, Dist Nashik 422206.
  • The timeline for the proposed utilization of proceeds commences from the date of filing the Return of Allotment with the Registrar of Companies (ROC) in compliance with the Companies Act, 2013.

2. Revision to Basis of Price Arrival

The equity shares are listed on BSE Limited and NSE and are frequently traded. Since the proposed preferential issue is to all Qualified Institutional Buyers (QIBs) not exceeding five in number, in terms of Regulation 164(4) of the SEBI (ICDR) Regulations, the allotment price shall not be less than the 10 trading days' volume-weighted average price (VWAP) of the equity shares quoted on the BSE preceding the relevant date.

3. Revision to Identity of Ultimate Beneficial Owners

A table identifying the allottees and their ultimate beneficial owners was revised:

| Name of Investor | Ultimate Beneficial Owner | No. of Shares | % | Shares) No. of 10,93,439 | Warrants to Equity Shares |

| ICICI Prudential SmallCap Fund | Not Applicable* | 0 | 0 | 10,93,439 | |

| ICICI Prudential Retirement Fund-Hybrid Aggressive Plan | Not Applicable* | 0 | 0 | 2,98,210 | |

| Clarus Capital II | Mr. Soumendra Lahiri (Partner and CIO) | 0 | 0 | 2,98,210 | |

Note: The disclosure states "Not Applicable" for the ICICI Prudential funds regarding ultimate beneficial ownership.

4. Revision to Requirements for Price Re-computation

Since the company's equity shares have been listed on the BSE for more than 90 trading days and the proposed allotment is to less than five QIBs, the price computation is based on BSE VWAP under SEBI ICDR Regulation 164(4). Consequently, lock-in extensions required under Regulations 164(3) and 167(5) of the SEBI (ICDR) Regulations, and the disclosures and undertakings required under Regulation 163(1)(g) and (h) of the SEBI (ICDR) Regulations, are stated as not applicable.

General Information

  • Except for the specified updates, all other terms, conditions, disclosures, and contents of the original EGM notice remain unchanged and in full effect.
  • This communication is to be read together with the original EGM notice.
  • The letter was signed digitally by Prasad D Zinjurde, Company Secretary and Compliance Officer (Membership No. A54800), on behalf of Virtuoso Optoelectronics Limited on September 21, 2026.