Background and Context

The disclosure is in response to a query received from BSE Limited dated 17 September 2026 regarding the status of promoter Mr. Jignesh Sudhirbhai Shah in relation to an In-Principle Application for a proposed Preferential Issue pursuant to Share Swap.

Historical Reclassification Approval

Upon review of historical records, the company verified a reclassification approval letter dated 6 July 2017 issued by BSE Limited (Letter No. LIST//COMP/VK/268/2017-18) that approved the reclassification of three individuals from Promoter Category to Public Category:

  • Mr. Jignesh Sudhirbhai Shah
  • Mr. Kishorbhai Dholakiya
  • Ms. Jayshreeben Dholakiya

Identification of Discrepancy

The company identified that subsequent to the 2017 approval, the corresponding changes were not appropriately reflected in the records maintained by the company's Registrar and Share Transfer Agent (RTA). Consequently, shareholding patterns provided by the RTA to the company continued to reflect these individuals under the erstwhile classification.

Corrective Action

The Board of Directors has resolved to undertake necessary corrective action for revision of shareholding patterns filed with the stock exchange from the quarter ended June 2017 onwards up to the latest shareholding pattern filed by the company.

Shareholding Impact

The revised shareholding patterns will reflect the status of the three individuals in accordance with the reclassification approval dated 6 July 2017. Since the promoters were reclassified as public category, the company has had zero promoter holding since June 2017:

| Quarter | Promoter Holding (Shares) | Promoter Holding (%) | Public Holding (Shares) | Public Holding (%) |

| Pre-Reclassification | 64,200 | 1.03 | 6,175,800 | 98.97 |

| Post-Reclassification | 0 | 0.00 | 6,240,000 | 100.00 |

Implementation Plan

The company will coordinate with its RTA and take all necessary steps for submission of revised/corrected shareholding patterns for the relevant periods in accordance with applicable provisions of SEBI LODR Regulations and stock exchange requirements.