Board approves higher authorised capital, 2 crore warrants at Rs.11, calls EGM on November 05, 2026

Board meeting held Saturday, October 03, 2026, from 4.30 PM to 5.35 PM.

Sat 3 Oct 2026

Authorised Share Capital

increase from Rs.3,50,00,000/- to Rs.23,50,00,000/-

Warrants Approved

2,00,00,000 (Two Crore) warrants convertible into equity shares on a preferential basis

Warrant Issue Price

Rs.11/- per warrant

Aggregate Amount

Rs.22,00,00,000/-

EGM Date

Thursday, November 05, 2026; relevant date October 06, 2026; 14 allottees proposed

Board meeting outcome: three decisions

The Board of Directors met on Saturday, October 03, 2026 from 4.30 PM to 5.35 PM at the registered office. The outcome covers a higher authorised share capital, a preferential issue of convertible warrants, and an Extra-Ordinary General Meeting.

Authorised share capital goes up

• Existing authorised share capital: Rs.3,50,00,000/-
• Proposed authorised share capital: Rs.23,50,00,000/-
• Additional amount created: Rs.20,00,00,000/-, through Equity Shares of face value Rs.10/- each
• Amended Clause V of the Memorandum of Association: 2,35,00,000 (Two Crore Thirty-Five Lakhs Thousand) Equity Shares of face value Rs.10/- each
• This is subject to the necessary approval of the Shareholders and other Regulatory Authorities

Preferential issue of convertible warrants

• 2,00,00,000 (Two Crore) warrants convertible into equity shares
• Price: Rs.11/- per warrant
• Total amount: Rs.22,00,00,000/-
• On a preferential basis, under Regulation 166A read with Regulation 164 of SEBI ICDR Regulations, subject to approval of Shareholders and other necessary approvals
• 25% of the Warrant Issue Price is payable at the time of subscription and allotment; the balance 75% on exercise of the warrants
• Tenure: not exceeding 18 (eighteen) months from the date of allotment; each warrant carries a right to subscribe 1 (one) Equity Share, exercisable in one or more tranches
• If a warrant holder does not exercise within 18 (eighteen) months, the unexercised warrants lapse and the amount paid on them stands forfeited by the Company

Who is proposed to be allotted

• Promoter category: 1,17,93,000 warrants across 7 allottees
• Public (Body Corporate) category: 82,07,000 warrants across 7 allottees
• Total allotment: 2,00,00,000; number of investors: 14 (Fourteen) allottees
• Promoter allottees: Anar Patel 20,70,000; Dakshesh Shah 20,22,000; Sanskruti Patel 18,16,000; Jayeshkumar Patel 15,31,000; Sheetal Shah 11,06,000; Dhruvin Shah 13,14,000; Seher Retail Private Limited 19,34,000 (Body Corporate)
• Public allottees: Innovative Infraplus India Limited 13,83,000; Shitalnath Consultant Private Limited 9,00,000; Efficient Tie Up Private Limited 19,29,000; Suparshva Urban Ventures LLP 11,00,000; Padmaprabhu Urban Estate LLP 11,00,000; Vaishudha Traders LLP 8,50,000; Qureka Barter LLP 9,45,000

Shareholding picture in the update

• The update shows pre-issue and post-preferential-issue equity holding of each allottee, marked as assuming full exercise and conversion of warrants
• Illustratively, Anar Patel's holding is shown moving from 346,870 shares (10.35%) to 2,416,870 shares (10.35%)
• Efficient Tie Up Private Limited is shown with 0 shares (0%) pre-issue, and 1,929,000 shares (8.26%) post issue on that assumption
• The post-issue column total of shares allotted upon conversion of warrants is 20,000,000

Process steps and dates

• Valuation Report submitted by Mr. Manish Santosh Buchasia, an Independent Registered Valuer Entity, for calculation of Minimum Floor Price as per SEBI ICDR Regulations
• Relevant date fixed: October 06, 2026 (being the date 30 days prior to the date of passing the resolution at the ensuing EGM)
• EGM to be held on Thursday, November 05, 2026 at the registered office; draft notice approved
• Rupal Patel, practising Company Secretary, appointed as Scrutinizer to conduct the e-voting process for the EGM

How a retail investor may read this

The increase in authorised share capital raises the ceiling up to which the company can issue shares, and the warrant issue is proposed on a preferential basis to named allottees, including promoters and public entities. The update places the proposal subject to shareholder approval at the EGM on November 05, 2026 and other necessary approvals, and sets out the pricing, payment schedule, tenure and forfeiture terms of the warrants.

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