Nature of Update: Capital infusion in wholly-owned subsidiary

Target Entity: Wendt Grinding Technologies Limited (WGTL), Thailand

Type of Deal: Capital infusion/equity subscription in wholly-owned subsidiary

Stake/Capacity: No change in shareholding (remains 100% subsidiary)

Deal Value: THB 46,350,000 (approximately INR 13.29 crores)

Funding Source: Cash consideration

Financial Impact:

  • Increases WGTL's paid-up equity capital from THB 25,750,000 to THB 72,100,000
  • Represents payment of THB 4.50 per share on partly paid shares
  • Balance of THB 3.00 per share remains to be infused in due course
  • Subsidiary's turnover: THB 94,695,748.03 (31st March 2026), THB 88,741,687.97 (31st March 2025), THB 91,272,134.43 (31st March 2024)

Timeline: Balance THB 3.00 per share will be infused "in due course" - no specific timeline provided

Strategic Rationale: Additional capital infusion in tranches to make the equity capital fully paid as called by the subsidiary's Board in accordance with local applicable laws

Approval Status: Completed transaction (infused on 23rd June 2026)

Regulatory Aspects:

  • Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Related party transaction (wholly-owned subsidiary) but at arm's length
  • No governmental or regulatory approvals required
  • No promoter/promoter group/group companies have any interest in the entity

Subsidiary Background:

  • Incorporated: 19th July 2005
  • Registered equity capital: THB 103,000,000 (10,300,000 equity shares of THB 10 each)
  • Line of business: Sales and Distribution of Coated, Bonded and Super Abrasives
  • Country of incorporation: Thailand

Reference Regulation: SEBI Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI master Circular dated 30th January 2026