Details of the Acquisition

Target Company: Expo Engineering and Projects Limited

Acquirer: Aegis Investment Fund PCC

Stock Exchange: BSE Limited

Mode of Acquisition: Preferential Allotment

Pre-Acquisition Holding (Aegis Investment Fund PCC)

  • Shares carrying voting rights: 1,170,594 equity shares
  • Percentage of total share/voting capital: 5.13%
  • Percentage of total diluted share/voting capital: 4.51%
  • Total holding (a+b+c+d): 1,170,594 shares (5.13% of voting capital, 4.51% diluted)

Details of the Acquisition

  • Instrument Acquired: 1,414,285 convertible warrants
  • Percentage of total diluted share/voting capital acquired: 5.45%
  • Total acquisition (a+b+c+d): 1,414,285 warrants (5.45% of diluted capital)

Post-Acquisition Holding

  • Shares carrying voting rights: 1,170,594 equity shares
  • Warrants/convertible securities: 1,414,285 warrants
  • Total holding (a+b+c+d): 2,584,879 shares/warrants
  • Percentage of total diluted share/voting capital: 9.96%

Salient Features of Acquired Securities

  • The Board of Directors of Expo Engineering and Projects Limited allotted warrants on September 26, 2025.
  • The allotment was based on shareholder approval via a special resolution passed on June 27, 2025.
  • A total of 3,145,715 convertible warrants were issued to promoters and non-promoters on a preferential basis under Sections 42/62 of the Companies Act, 2013.
  • Face Value: ₹4 per share
  • Premium: ₹66 per share
  • Issue Price: ₹70 per warrant
  • The warrants are convertible into equity shares upon exercise of the option within 18 months from the date of allotment (September 26, 2025).

Date of Conversion

  • The conversion of warrants into equity shares was approved by the Board of Directors at a meeting held on August 20, 2026.
  • The conversion was executed after receipt of the balance 75% of the payment.

Capital Structure Impact

  • Equity share capital before acquisition: ₹9,118,560 (22,796,400 equity shares of ₹4 each)
  • Total voting capital before acquisition: ₹9,118,560 (22,796,400 equity shares of ₹4 each)
  • Total diluted share/voting capital after acquisition (including all 3,145,715 warrants): ₹103,768,460 (25,942,115 equity shares of ₹4 each)