Capital Structure Changes

Before preferential allotment:

  • Equity share capital: 150,000 shares of ₹10 each
  • Total voting capital: 150,000 shares

After preferential allotment:

  • Equity share capital: 270,553,280 shares of ₹10 each
  • Total voting capital: 270,553,280 shares
  • Total diluted voting capital: 270,553,280 shares (no outstanding convertible securities)

Acquirer Details and Holdings

Promoter Group Acquisitions (Consolidated 73.72% holding):

Northvale Capital Partners Private Limited

  • Acquired: 41,386,435 shares (15.30%)
  • Mode: Preferential Allotment
  • Before acquisition: NIL shares
  • After acquisition: 41,386,435 shares (15.30%)

HCMI(S) Private Limited

  • Acquired: 28,247,208 shares (10.44%)
  • Mode: Preferential Allotment
  • Before acquisition: NIL shares
  • After acquisition: 28,247,208 shares (10.44%)

Norfolk Resources Private Limited

  • Acquired: 29,092,756 shares (10.75%)
  • Mode: Preferential Allotment
  • Before acquisition: NIL shares
  • After acquisition: 29,092,756 shares (10.75%)

Norfolk Technologies Private Limited

  • Acquired: 25,684,065 shares (9.49%)
  • Mode: Preferential Allotment
  • Before acquisition: NIL shares
  • After acquisition: 25,684,065 shares (9.49%)

Individual Promoter Group Members:

  • Yung Kug Kim: Acquired 38,250,520 shares (14.14%)
  • Woo Yeol Cho: Acquired 18,543,129 shares (6.85%)
  • Jung Min An: Acquired 18,249,099 shares (6.75%)

Total Promoter Group Acquisition: 199,453,212 shares (73.72% of post-issue capital)

External Investor Acquisitions:

G-Knot

  • Acquired: 13,320,164 shares (4.92%)
  • Mode: Preferential Allotment
  • Before acquisition: NIL shares
  • After acquisition: 13,320,164 shares (4.92%)
  • Not part of promoter group
  • Represented by Wonkwang Lee, Chairman (Authorized Signatory)

Jayni Edge Wholesaler LLC

  • Acquired: 2,998,138 shares (1.11%)
  • Mode: Preferential Allotment
  • Before acquisition: NIL shares
  • After acquisition: 2,998,138 shares (1.11%)
  • Not part of promoter group

Rajendra Raojibhai Patel

  • Acquired: 2,998,138 shares (1.11%)
  • Mode: Preferential Allotment
  • Before acquisition: NIL shares
  • After acquisition: 2,998,138 shares (1.11%)
  • Not part of promoter group

Other Minor Acquirers:

  • Sangjoon Lee: Acquired 3,771,086 shares (1.39%)
  • Narinder Pal Yadav: Acquired 843,007 shares (0.31%)
  • Kartik Rajnikant Patel: Acquired 849,178 shares (0.31%)

Additional Information

  • No shares were held in encumbrance (pledge/lien/non-disposal undertaking) by any acquirer
  • No voting rights otherwise than by equity shares
  • No warrants/convertible securities or other instruments entitling acquirers to receive additional shares
  • Salient features of securities: Not Applicable (ordinary equity shares)
  • All acquisitions were through preferential allotment mechanism

Geographic Representation

Acquirers represented from multiple locations including Singapore, Seoul (South Korea), New Jersey (USA), Ahmedabad (India), Raleigh NC (USA)

Financial Impact

The preferential allotment resulted in massive dilution of existing share capital, expanding from 150,000 shares to 270.55 million shares. The promoter group consolidated 73.72% ownership through this fundraising exercise.