Date: June 02, 2026
Disclosure Context
Nature of Share Subscription
- The share subscription was undertaken in connection with share‐linkage requirements applicable to borrower members of Saraswat Bank
- This should not be construed as an acquisition or purchase of an ownership stake or investment in Saraswat Bank
- Saraswat Bank operates under the Multi‐State Co‐operative Societies Act, 2002 and relevant co‐operative bank regulatory framework
Regulatory Framework
- In terms of the RBI Master Circular on Prudential Norms on Capital Adequacy for Primary (Urban) Co‐operative Banks dated April 1, 2025, a share‐linkage of up to 2.5% of secured borrowings is permitted
- Section 31 of the Multi‐State Co‐operative Societies Act, 2002 mandates the principle of "one member, one vote"
Company's Relationship with Saraswat Bank
- Gufic Biosciences is an existing borrower member of Saraswat Bank
- The company maintains credit facilities aggregating approximately ₹230 crore with Saraswat Bank
- The subscription opportunity was extended by Saraswat Bank to eligible borrower members to increase their share capital linkage within permissible limits
Impact and Limitations
- The subscription is undertaken in the ordinary course of the lender‐borrower relationship
- No change in management, control or governance rights of Saraswat Bank will result
- Subscription of additional shares does not confer any proportionate increase in voting rights, ownership interest, management rights or control
Purpose of Clarification
- To ensure accurate dissemination of information
- To avoid any ambiguity arising from terminology used in the earlier disclosure
- All other particulars contained in the May 29, 2026 disclosure remain unchanged