Background and Context

The disclosure references earlier company communications dated 22 July 2026 regarding requests from two promoter shareholders seeking reclassification from the "Promoter and Promoter Group" category to the "Public" category under Regulation 31A of SEBI LODR Regulations. The requests are from:

  • Sh. Arpan Gupta, in his individual capacity
  • Sh. Arpan Gupta, Karta of Dinesh Kumar Gupta HUF

SEBI Communication Details

The company received communication from SEBI dated 7th October 2026 (Reference No. 1/22985/2026) which provides clarification on the administrative warning and advisory letter dated 21st July 2026 (Reference No. HO/49/13/11(379)2026-CFD-SEC2 1/16907/2026).

Key Clarifications from SEBI

1. The observations in SEBI's July 21, 2026 letter pertain to the company's conduct at the time the reclassification requests were received and considered, and fall to be assessed under Regulation 31A of LODR Regulations as it stood prior to its substitution with effect from 13th December 2024.

2. The administrative warning issued in the July 21, 2026 letter stands and is not affected by this clarification.

3. Corrective steps to be taken now shall be carried out in accordance with Regulation 31A of LODR Regulations as presently in force.

4. SEBI does not express any view on the eligibility of the promoters for reclassification, which is to be determined by the recognized stock exchanges and thereafter by shareholders in accordance with Regulation 31A.

5. The clarification is confined to the manner in which the requests are to be processed and is without prejudice to any action that may be taken regarding the non-compliance referred to in the July 21, 2026 letter.

Company's Current Status and Actions

The company had already taken requisite actions immediately upon receipt of SEBI's July 21, 2026 letter. The company has submitted applications with requisite annexures, supporting documents, and relevant facts to:

  • National Stock Exchange of India Limited (NSE)
  • BSE Limited (BSE)

These applications are for consideration and grant of No-Objection Certificate (NOC) for the reclassification requests. The applications are presently pending consideration before the respective stock exchanges.

Next Steps

Upon receipt of NOCs from the recognized stock exchanges, the company shall, within the stipulated time period:

  • Place the respective reclassification requests before shareholders
  • Include the NOCs received from stock exchanges
  • Include the views of the Board of Directors
  • Seek shareholder consideration and approval in accordance with applicable provisions of SEBI LODR Regulations, 2015

Document Signatory

CS Munish Kakra, CFO & Company Secretary

Enclosure

Copy of SEBI communication dated 07 October 2026