Board approves withdrawal of in-principle approval applications for loan-to-equity conversion and warrants

The Board of Directors, in its meeting on Monday, 5th October 2026, approved the withdrawal of the In-Principle Approval applications shared with BSE Limited and Metropolitan Stock Exchange of India Limited.

Mon 5 Oct 2026

Board Meeting Date

Monday, 5th October 2026

Equity Shares in Withdrawn Proposal

35,71,42,856 equity shares pursuant to conversion of existing loan into equity shares

Convertible Warrants in Withdrawn Proposal

70,93,57,119 convertible warrants

Exchanges Involved

BSE Limited and Metropolitan Stock Exchange of India Limited

Meeting Timings

commenced at 04:30 P.M. and concluded at 05:00 P.M.

What the Board decided

The Board of Directors of the company, in its meeting held on Monday, 5th October 2026, considered and approved the withdrawal of the In-Principle Approval applications that had been submitted to BSE Limited and Metropolitan Stock Exchange of India Limited (MSE).

What the applications covered

• 35,71,42,856 (Thirty-Five Crores Seventy-One Lakhs Forty-Two Thousand Eight Hundred Fifty-Six) equity shares, proposed to be issued pursuant to conversion of existing loan into equity shares.
• 70,93,57,119 (Seventy Crores Ninety-Three Lakhs Fifty-Seven Thousand One Hundred Nineteen) convertible warrants.

Understanding the terms used

In-principle approval is a nod a listed company seeks from stock exchanges before issuing new shares or warrants. The update records a decision to withdraw the applications that had been shared with BSE and MSE for this proposal. Conversion of an existing loan into equity shares is a route where a loan is settled by issuing shares instead of being repaid in cash. Convertible warrants are instruments that can later be converted into equity shares.

Other details recorded in the update

• The Board meeting commenced at 04:30 P.M. and concluded at 05:00 P.M.
• The outcome was intimated to BSE Limited (Scrip Code 540360) and Metropolitan Stock Exchange of India Limited (Symbol LLFICL).

The intimation was signed by Ketankumar Shivabhai Gosai, Managing Director.

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