Board meeting on 10 October 2026 to consider conversion of outstanding loan into equity shares

Board meeting scheduled for Saturday, 10 October 2026.

Tue 6 Oct 2026

Board Meeting Date

Saturday, 10 October 2026

Special Resolution

Section 62(3) of the Companies Act, 2013 at the 10th AGM held on 30 September 2025

Board Agenda

conversion of outstanding loan into equity shares of the company

The company has informed the exchange that a meeting of its Board of Directors is scheduled to be held on Saturday, 10 October 2026.

What the board will consider

• To consider and approve the conversion of outstanding loan into equity shares of the company.
• The conversion follows the exercise of a conversion option by the Promoter, in terms of the Loan Agreement.
• A special resolution was passed by the members under Section 62(3) of the Companies Act, 2013 at the 10th Annual General Meeting held on 30 September 2025.
• The board will also consider making an application to BSE Limited for necessary in-principle approval and other approvals, if any, in this regard.
• Any other matter with the permission of the Chairperson.

What a loan-to-equity conversion means

When a lender holds a loan given to a company, the loan agreement can give that lender an option to convert the amount owed into shares instead of taking the money back in cash. If the board approves the conversion, the company's obligation on that loan is settled by issuing shares, and the lender becomes a shareholder. Since new shares are issued, the total number of shares of the company increases.

Why investors may want to track this

• The lender here is the Promoter, so the conversion would be a share issue to a person already part of the promoter group, and the promoter's holding can change.
• The number of shares issued and the price at which they are issued are part of what the board would decide, and these determine how much the shareholding pattern changes for other investors.
• Approvals are involved: the board will consider applying to BSE Limited for in-principle approval and other approvals.
• The enabling approval from members is already in place through the special resolution passed at the 10th Annual General Meeting held on 30 September 2025.

Where things stand

The notice says the board will "consider and approve" the proposal. The decision is taken at the meeting itself. The proposal is subject to such terms and conditions and requisite approvals as may be required under the Companies Act, 2013, SEBI Regulations and other applicable laws.

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