Date: November 5, 2026
Regulatory Compliance Clarification
The company issued a clarification regarding Agenda Item 11 from its Annual General Meeting held on Wednesday, 30th September, 2026. The agenda item pertained to "To Issue Fully Convertible Warrants on a preferential basis to the persons belonging to Non-Promoter Public Category."
Stock Exchange Query Response
The National Stock Exchange of India sought clarification on two specific points:
1. The rationale for obtaining a valuation report for the warrant issuance
2. Justification for the confirmation that "No person belonging to the aforesaid promoter group has previously subscribed to any warrants of the Company but failed to exercise them"
Company's Clarifications
Valuation Report Rationale:
- The company's equity shares are frequently traded and do not require a valuation report to arrive at the issue price
- However, the company obtained a valuation report from a registered valuer as part of Good Corporate Governance practice
- The price for the securities issue was derived as per Regulation 164 of the SEBI (ICDR) Regulations, 2018
Promoter Group Confirmation:
- The company confirms that the proposed issue of convertible warrants is not being subscribed by any Promoter, Promoter group, Director, or Key Managerial Personnel
- The declaration was provided as part of Good Corporate Governance practices