Board approves allotment of 4,61,000 equity shares on preferential basis against Ricardo Elevators share swap

Board approves allotment of 4,61,000 equity shares on a preferential basis.

Fri 9 Oct 2026

Shares Allotted

4,61,000 equity shares on a preferential basis

Issue Price

Rs. 281.86/- per share (face value ₹10/-, premium ₹271.86/-)

Revised Paid-up Equity Share Capital

Rs. 21,72,41,330/- (2,17,24,133 shares of ₹10/- each)

What the Board approved

The Board of Directors, at its meeting held on Friday, 09th October, 2026 from 05:00 P.M. and concluded at 05:30 P.M., considered and approved the allotment of 4,61,000 equity shares of the company on a preferential basis.

• The consideration is other than cash: a swap of the entire equity share capital of Ricardo Elevators Private Limited (the Target Company).
• Issue price: Rs. 281.86/- per equity share, of face value ₹10/- each, including a premium of ₹271.86/- per equity share.
• The new equity shares shall rank pari passu with the existing equity shares of the company in all respects.

Who received the shares

The allotment went to 04 allottees, each in the Non-Promoter category

• Ms. Muralidharan Akshaya — 46,100 equity shares
• Ms. Chandrakala Kallepelli — 1,84,400 equity shares
• Ms. Prathyusha Peddeham — 46,100 equity shares
• Ms. Deepika Hemnani — 1,84,400 equity shares

Each allottee's ultimate beneficial owner is stated as Self.

What it does to the share capital

After the allotment, the issued and paid-up equity share capital of the company stands increased to Rs. 21,72,41,330/-, consisting of 2,17,24,133 equity shares of Rs. 10/- each.

The disclosure also gives post-issue shareholding, as a percentage of total equity capital:

• Ms. Muralidharan Akshaya — 0.21% (0.21% on dilution basis)
• Ms. Chandrakala Kallepelli — 0.85% (0.83% on dilution basis)
• Ms. Prathyusha Peddeham — 0.21% (0.21% on dilution basis)
• Ms. Deepika Hemnani — 0.85% (0.83% on dilution basis)

The dilution-basis figures are computed after giving effect to the conversion of the outstanding warrants issued by the company.

Lock-in on the allotted shares

The equity shares allotted on a preferential basis shall be subject to the applicable lock-in requirements prescribed under Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended from time to time.

How to read this

• Shares are being issued against the entire equity share capital of Ricardo Elevators Private Limited, not against cash. The company is bringing that entity's shareholders into its own shareholder base.
• Because fresh shares are issued, the total number of shares in the company rises. The disclosure therefore shows each allottee's stake on a post-issue basis and on a dilution basis, since the percentage held by an existing shareholder in a larger share base changes.
• The allotted shares carry a lock-in, so the allottees cannot freely sell them immediately.
• The allotment is stated as approved by the Board, and the allottees are all in the Non-Promoter category.

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