The company received an email from BSE Limited dated July 23, 2026, informing of a fine levy. The fine amount is ₹14,98,600 (inclusive of GST). The fine is for the period from January 01, 2026, to May 07, 2026. The reason cited for the fine is alleged non-compliance with minimum public shareholding (MPS) requirements under Regulation 38 of the SEBI (LODR) Regulations, 2015.
The company has provided a clarification regarding its compliance status. It allotted equity shares pursuant to a Rights Issue on April 28, 2026. Following this allotment, the promoter shareholding stands at 65.64%. The company states that this level remains below the prescribed threshold of 75% for promoter holding. Accordingly, the company asserts that it continues to comply with the Minimum Public Shareholding (MPS) requirements under Regulation 38 of the SEBI (LODR) Regulations, 2015.
The letter is signed by Ankit Vinodbhai Patel, who holds the designation of Company Secretary & Compliance Officer, and is addressed to the General Manager of the Corporate Relations Department at BSE Limited.