Shareholders pass special resolution for preferential issue of 33,28,686 share warrants to Minerva Ventures fund

Shareholders passed the special resolution for the preferential issue of securities on a private placement basis at the EGM on October 3, 2026.

Sat 3 Oct 2026

Resolution Passed

Special resolution for preferential issue of securities on private placement basis passed at EGM on October 3, 2026

Warrants Issued

33,28,686 share warrants on a preferential basis to Minerva Ventures fund

Votes in Favour

99.9978% of votes polled in favour

Votes Polled

37,663,001

Shares Held on Record Date

66,573,731

What shareholders approved

At the Extraordinary General Meeting (EGM) held on October 3, 2026, shareholders passed the special resolution for the Preferential Issue of Securities on a Private Placement basis, as set out in the EGM Notice dated September 8, 2026. The resolution put to vote was the issue of 33,28,686 share warrants on a preferential basis to Minerva Ventures fund.

How the votes were cast

• Shares held by shareholders on the record date: 66,573,731
• Votes polled: 37,663,001, which is 56.5734% of outstanding shares
• Votes in favour: 37,662,168, being 99.9978% of votes polled
• Votes against: 833, being 0.0022% of votes polled
• Invalid votes: nil

Who voted

• Members who voted in favour: 332; members who voted against: 27
• 45 shareholders attended the meeting through video conferencing — 7 from the promoter and promoter group and 38 from the public
• Total shareholders on the record date: 2,57,438
• The company records that the promoter and promoter group are not interested in this resolution

What a preferential issue means

In a preferential issue on a private placement basis, securities are issued to a specific identified investor instead of being offered to the general public. Members of the public do not apply in such an issue, so the issue can change the shareholding pattern of the company.

What was voted on, in the company's own words

• Resolution type: Special Resolution
• Description: Issue of 33,28,686 Share Warrants on preferential basis to Minerva Ventures fund
• Whether the resolution is passed: Yes

How the voting was conducted

• Voting was through e-voting, with the remote e-voting period running from September 29, 2026 to October 2, 2026, and electronic voting also available at the EGM itself
• Members on the cut-off date of September 26, 2026 were entitled to vote on the resolution
• The e-voting results and the Scrutinizer's Report are placed on the company's website and on the NSDL website

The tally in numbers

• Members voting in favour: 332 (327 through remote e-voting and 5 through electronic voting at the EGM)
• Members voting against: 27 (27 through remote e-voting and none at the EGM)
• Votes in favour: 37,662,168 (37,662,022 through remote e-voting and 146 at the EGM)
• Votes against: 833
• Total votes polled: 37,663,001

In short, the proposal received the support of the overwhelming majority of votes cast, with a very small number of votes recorded against it.

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