Board approves revised list of proposed allottees for preferential issue of 1,20,00,000 equity shares

Board approved a revised list of Proposed Allottees for the proposed preferential allotment.

Thu 8 Oct 2026

Proposed Issue Size

1,20,00,000 equity shares of face value Rs. 10/- each

Aggregate Issue Value

Rs. 12,00,00,000

Share of Post-Allotment Capital

about 94.81% of post-allotment capital

What the Board approved

• The Board, at its meeting held on 8th October, 2026, reconsidered the matter relating to the proposed issue of equity shares on a preferential allotment basis and approved a revised list of Proposed Allottees.
• The earlier submissions and proceedings sent to BSE in relation to this proposed preferential allotment stand superseded and replaced by the present submission only to the extent of the revised list of Proposed Allottees. All other terms, conditions, approvals and decisions relating to the proposed preferential allotment remain unchanged and continue to apply.
• The Board also approved making an application to BSE for the requisite in-principle approval for listing of the equity shares proposed to be issued, and authorised officer(s) to file the application and do what is necessary to complete the proposed preferential issue.

Size of the proposed issue

• 1,20,00,000 equity shares, written in the update as "One Crores Twenty Lakhs" equity shares.
• Face value: Rs. 10/- per share.
• Aggregate value: Rs. 12,00,00,000, written as "Twelve Crores".
• This is stated to be approximately 94.81% of the post-allotment capital; the annexure total is shown as 94.8060%.

Who is proposed to receive the shares

• Pratik Kakadia (Promoter): 6996200 shares, 55.2735%.
• Ramjibhai Kakadiya (Promoter Group): 3946680 shares, 31.1807%.
• Hetal Kakadiya (Promoter Group): 543320 shares, 4.2925%.
• Shardaben Kakadiya (Promoter Group): 500000 shares, 3.9502%.
• Bhavesh Javerbhai Vekaria (Promoter): 150 shares, 0.0012%.
• The remaining names on the list are small individual holders, mostly in the Public category, with proposed allotments from 10 shares (0.0001%) up to 2500 shares (0.0198%).

Background given in the update

• The proposal is in furtherance of the equity infusion/restructuring proposal considered by the Board at its meeting held on 10th July, 2025, under which the revised share capital structure contemplated equity infusion by the Implementing Entity.
• The update records the revised allottee list and the decision to seek in-principle approval from BSE; the issue itself is described as a proposed preferential allotment.

What a retail investor may note

• The quantity of shares proposed to be issued is large relative to the post-allotment capital, at about 94.81%, which indicates how much the shareholding pattern could change if the allotment goes through.
• Most of the proposed shares are earmarked for promoter and promoter-group names, so the revised list of allottees is the main change this update brings.
• All other terms, conditions and approvals of the proposed preferential allotment are stated to remain as previously considered and approved by the Board.

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