Key Transaction Details

Warrant Allotment: On June 25, 2026, the company allotted 14,00,00,000 (Fourteen Crore) fully convertible warrants to Foreign Portfolio Investors falling under the Public Category (Non-Promoter/Non-Promoter Group entities). Each warrant was convertible into one equity share of face value ₹1 at an issue price of ₹8.50 per share.

Upfront Payment Received: The company received 25% upfront money amounting to ₹6,37,50,000 (₹2.125 per warrant) on or before June 25, 2026, against the allotment of 3,00,00,000 warrants.

Equity Share Allotment: On June 30, 2026, the company allotted 3,00,00,000 (Three Crore) fully paid-up equity shares of face value ₹1 each at an issue price of ₹8.50 per share upon conversion of 3,00,00,000 warrants.

Balance Payment Received: The company received the balance 75% allotment money amounting to ₹19,12,50,000 on June 30, 2026, from the bank account of the allottee, Sun India Opportunities Investing Fund.

Allottee Details

| Allottee Name | Warrants Allotted (25-Jun-2026) | 25% Upfront Received (₹) | Equity Shares Allotted (30-Jun-2026) | 75% Balance Received (₹) | Unexercised Warrants | Pending Amount (₹) |

| Sun India Opportunities Investing Fund | 5,00,00,000 | 10,62,50,000 | 3,00,00,000 | 19,12,50,000 | 2,00,00,000 | 12,75,00,000 |

| Magnifica Global Opportunities VCC-MGO High Conviction Fund | 4,50,00,000 | 9,56,25,000 | - | - | 4,50,00,000 | 28,68,75,000 |

| Minerva Ventures Fund | 4,50,00,000 | 9,56,25,000 | - | - | 4,50,00,000 | 28,68,75,000 |

| Total | 14,00,00,000 | 29,75,00,000 | 3,00,00,000 | 19,12,50,000 | 11,00,00,000 | 70,12,50,000 |

Auditor Verification

Ford Rhodes Parks & Co. LLP, the statutory auditors (Firm Registration No. 102860W/W100089), verified:

  • Funds were received from the allottee's bank account with no circulation of funds or passing of book entries
  • The 25% upfront money received for unexercised warrants was not adjusted toward the balance 75% allotment money
  • Relevant documents including bank statements are maintained by the company
  • Compliance with Regulation 169(4) and 169(5) of SEBI ICDR Regulations, Section 42(6) of Companies Act 2013, and Rule 14 of Companies (Prospectus and Allotment of Securities) Rules 2014