Additional Disclosure on Preferential Issue Pricing: Warrants Priced at ₹ 229 vs Floor Price ₹ 228.08

Board-approved preferential issue update.

Mon 28 Sep 2026

Warrant Face Value

₹ 10/- per equity share

Floor Price (ICDR Reg 164(1))

₹ 228.08/- per warrant

Approved Issue Price

₹ 229/- per warrant

Allottees

Shailesh Telge, Vishal Telge and Shobha Telge (promoter group members)

What was shared

The company gave additional pricing information on the preferential issue of equity shares and convertible warrants approved by its Board on September 28, 2026.

Pricing

• Floor price computed under Regulation 164(1) of the ICDR Regulations: ₹ 228.08/- per convertible warrant
• Approved issue price: ₹ 229/- per convertible warrant, marginally above the floor
• The warrants are convertible into equity shares of face value ₹ 10/- each

Who is being allotted

The warrants are proposed to be issued to promoter group members Mr. Shailesh Uttam Telge, Mr. Vishal Uttam Telge and Mrs. Shobha Uttam Telge.

How to read it

A preferential issue to promoters can be seen as promoters putting in further capital, while conversion of warrants into equity shares later adds to the share count. Pricing at or above the regulatory floor price is the requirement under the ICDR Regulations.

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