Aar Shyam India Investment Company Ltd

Open offer scope

• Acquirers to acquire 58,43,327 shares representing 26% at Rs 15 per share.
• Offer not conditional on minimum acceptance and not a competing offer.
• Maximum consideration Rs 8.76 crore.

Structure and SVR

• SVR Electro Projects to become wholly owned subsidiary post share-swap; total consideration Rs 21.81 crore.
• Share-swap consideration payable via issuance of Acquirers' equity shares.
• Post-offer, Acquirers would hold 95.82% of Emerging Paid-Up Capital.

Governance

• Acquirers to be inducted as promoters; outgoing promoters reclassified as public shareholders.

Timing & approvals

• Identified Date Oct 5, 2026; Open Oct 19, 2026; Tender closes Nov 2, 2026.
• Escrow Rs 2.20 crore with Axis Bank; Manager Turnaround Corporate Advisors.
• This is subject to statutory approvals; possible extensions or withdrawal.

AAR SHYAM INDIA INVESTMENT COMPANY LIMITED — Trading Window closed from October 01, 2026 until 48 hours after the announcement of the Unaudited Financial Results to the public for the Quarter and Half year ended September 30, 2026; Trading Window will open after 48 hours from the announcement of the Company's Unaudited Financial Results for the Quarter and Half year ended September 30, 2026 to Stock Exchange.

Name change status

• MCA approved reservation of the proposed name Avudari Engineering Limited on Sep 24, 2026.
• RUN filed with MCA on Sep 23, 2026 to seek name reservation.
• Further applications with MCA, BSE, and authorities planned to effect the name change.
• No material financial impact disclosed at this time.

AGM details

• AGM held September 21, 2026, 3:00 PM to 3:08 PM.
• Mode: Video Conferencing (VC).
• Total shareholders on record: 209.
• Public attendance via VC: 8; promoter group: 0.
• All AGM resolutions passed with requisite majority.

Resolutions and voting

• Resolutions mentioned in the AGM Notice were passed.

AGM Details

• Held on 21 September 2026 at 03:00 PM via Video Conferencing.
• Meeting concluded at 03:08 PM; remote e-voting 18–20 September 2026.

Resolutions presented

• Ordinary: Adoption of audited standalone financial statements for FY2026; voting results pending.
• Special: Appoint statutory auditors to fill casual vacancy and continue engagement.
• Special: Alter MOA object clause of the company.
• Special: Adopt new set of Articles of Association.
• Special: Increase borrowing limits by the Board under Section 180(1)(C).
• Special: Creation of mortgage or charge on assets under Section 180(1)(A).
• Special: Increase limits for investments, loans, and guarantees.
• Special: Preferential issue of equity shares on a share swap for SVR Electro Projects.
• Special: Issuance of equity shares on preferential basis to non-promoters for cash.
• Special: Appointment of Ms. Perla Pavani as Director.
• Ordinary: Appointment of Ms. Perla Pavani as Managing Director.
• Special: Appointment of Ms. Pooja Manish Pandey as Non-Executive Independent Director.
• Special: Shifting registered office from Delhi II to Delhi I.
• Special: Change of name and other clauses of MOA and AoA.
• Voting results for all resolutions to be communicated to the Exchange.

AGM Details

• AGM scheduled Sept 21, 2026 at 3:00 PM IST via VC/OVAM.
• Transfer books closed Sept 15–21, 2026 (inclusive).
• Corrigendum clarifies shareholders' approval and corrects clerical errors.
• Notice dispatched Aug 26, 2026; corrigendum dated Sept 16, 2026.

Key Resolutions

• Item 8: Preferential allotment and related open offer.
• Item 9: Share swap with SVR and valuation basis.
• Item 11: Ordinary Resolution (per corrigendum change).
• Item 12: Special Resolution (corrigendum correction).
• Item 13: Special Resolution (corrigendum correction).
• Item 14: Special Resolution (corrigendum correction).
• Other: Board changes to resolution numbering and wording.

Voting Results

• Voting outcomes not disclosed in corrigendum.
• No threshold percentages reported in this corrigendum.

Dividend

• No dividend proposal or approval mentioned.

Director/Promoter Changes

• No director retirements or appointments disclosed here.

Auditors

• No auditor appointments or changes disclosed here.

Material Related Party Transactions

• Not specifically disclosed as RPT in this corrigendum.

Other Material Approvals

• Disclosures added on proposed allottees and post-issue shareholding.
• Share valuation summaries and share swap ratio proposed.
• MPS restoration and promoter reclassification discussed.

Open Offer details

• Open offer to acquire up to 58,43,327 equity shares, 26% of Emerging paid-up capital, at Rs 15.
• Maximum consideration Rs 8.76 crore; not conditional on minimum acceptance.
• Offer not a competing offer; subject to statutory approvals; tendering window Oct 16–30, 2026.
• Identified Date: Oct 01, 2026; LOF dispatch by Oct 09, 2026.

Funding and control structure

• Escrow of Rs 2.20 crore with Axis Bank to secure max consideration.
• Total consideration for SVR share swap: Rs 21.81 crore; SVR to become wholly owned subsidiary.
• Post-completion, Acquirers to hold 95.82% of Emerging Capital; Outgoing Promoters to Public.

Post-offer ownership and capital changes

• Proposed preferential issue of 1,40,56,300 equity shares to the Acquirers.
• Total preferential issue size 1,94,74,333 shares; post-issue capital 2,24,74,333.
• Post-Offer, Acquirers to hold 95.82% of Emerging Capital; Public float reduced.

Open Offer Details

• Open offer to acquire up to 58,43,327 equity shares representing 26% of target.
• Acquirers: Radha Krishna Avudari, Sudha Rani Avudari, Nagabhyru Srikanth.
• Target: Aar Shyam India Investment Company Limited.
• DPS dated Aug 29, 2026; published Aug 30, 2026 in Financial Express (English), Jansatta (Hindi), Pratahkal (Marathi).
• CD attached containing a soft copy of the DPS (PDF).
• Document filed by Turnaround Corporate Advisors Private Limited (MD: Heemadri Mukerjea).
• Open offer window governed by SEBI SAST Regulations, 2011 and amendments.

Corporate office establishment

• Corporate office established at Office No. 403, 4th Floor, City Centre Mall, Plot No. 5, Sector-12.
• Dwarka, New Delhi - 110078.
• Effective from August 29, 2026.
• Books of Accounts to be maintained at the new address.
• Change applies to corporate office; registered office not stated as changing.
• Rationale: centralized management and improved operational efficiency.
• Board authorized director to finalize lease and related arrangements.