Clarification on media reports of proposed promoter group stake sale via block deal

Avalon has clarified media reports about a proposed stake sale through a block deal by Mr. Bhaskar Srinivasan's promoter group (includes BBS Family Trust and KBS Family Trust).

Wed 30 Sep 2026

Bhaskar Srinivasan shareholding

62,70,355 shares (9.38%)

BBS Family Trust shareholding

20,20,710 shares (3.02%)

KBS Family Trust shareholding

20,20,710 shares (3.02%)

Total Bhaskar Srinivasan group shareholding

1,03,12,775 shares (15.42%) as of September 29, 2026

Clarification

KBS Family Trust = Kavya Bhaskar Srinivasan Family Trust, not Mr. Kunhamed Bicha's group

What was shared

Avalon Technologies issued a press release addressing media reports about a proposed stake sale in the company through the block deal mechanism by Mr. Bhaskar Srinivasan and his promoter group, comprising BBS Family Trust and KBS Family Trust.

The clarification

• The reference to "KBS Family Trust" should not be read as a reference to Mr. Kunhamed Bicha or his promoter group.
• Mr. Kunhamed Bicha and his promoter group are not selling any shares in connection with this proposed stake sale.
• KBS Family Trust stands for Kavya Bhaskar Srinivasan Family Trust, which forms part of Mr. Bhaskar Srinivasan's promoter group.

Shareholding of Mr. Bhaskar Srinivasan's promoter group as of September 29, 2026

• Bhaskar Srinivasan: 62,70,355 shares, 9.38%
• BBS Family Trust: 20,20,710 shares, 3.02%
• KBS Family Trust: 20,20,710 shares, 3.02%
• Dolphin Family Trust: 1,000 shares, 0.00%
• Total: 1,03,12,775 shares, 15.42%

How to read it

The update is a clarification on the identity of the selling promoter group, correcting a possible confusion between two similar-sounding names. The company described the stake sale as proposed. Investors are advised to refer to the company's official regulatory disclosures for information on promoter and promoter group shareholding.

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