Devinsu Trading Ltd

AGM Details

• AGM held on 20 August 2026 at 11:00 A.M. via Video Conferencing/OAVM.
• Adjourned 41st AGM; Scrutinizer Report enclosed.
• All AGM resolutions approved by shareholders with requisite majority.

AGM Details

• AGM held on 20 August 2026 at 11:00 A.M. via VC/OAVM.
• Meeting duration 11:00–11:12 A.M.; quorum present.

Resolutions put to vote

• Ordinary: adopt audited financial statements for FY 2025-26 and related reports.
• Ordinary: re-appoint Deniis Desai as Whole-time Director by rotation.
• Special: appoint Statutory Auditors and approve remuneration.
• Special: appoint Mrs. Sangita Hiren Shukla as Independent Director.
• Special: approve loans, investments, guarantee or security under Section 186.
• Special: give loans and advances under Section 185.

Voting status

• Voting results will be declared after Scrutinizer’s report; AGM concluded at 11:12 A.M.

Director changes

• Deniis Desai to be re-appointed by rotation.
• Sangita Hiren Shukla appointed as Independent Director.

Financial results and reporting

• Standalone unaudited financial results for quarter ended 30 June 2026 approved; Limited Review Report attached.
• Results reviewed by Audit Committee; statutory auditor performed Limited Review.
• Figures for corresponding periods restated for comparability.
• Net profit for the quarter: 21.33; EPS: 4.19.
• Total income for the quarter: 31.38.
• Tax expense: current tax 7.17; deferred tax 0.49.

Announcement details

• Offer Opening Public Announcement published August 14, 2026 for Devinsu Trading Limited.
• Announced under SEBI SAST Regulation 18(7).
• Target company identified as Devinsu Trading Limited.

AGM Details

• 41st AGM initially convened for 13 August 2026 at 11:00 a.m. via VC/OAVM; adjourned for lack of quorum.
• Adjourned to 20 August 2026 at 11:00 a.m. via VC/OAVM.

Key Resolutions

• No resolutions were put to vote due to adjournment.

Voting Results

• No voting occurred; meeting adjourned for rescheduling.

Open offer details

• Open offer for up to 1,52,880 shares (26% voting) at ₹355 per share.
• Target company is Devinsu Trading Limited.

Acquirers and adviser

• Acquirers are Jaison Vijay Shah, Mukesh Kumar Bothra, and Yora Gems & Jewellery Private Limited.
• Manager to the Offer is Mark Corporate Advisors.
• IDC comprises three independent directors with no equity in the target company.

Recommendation and governance

• The offer price is fair and reasonable under SEBI (SAST) Regulations, 2011.
• Recommendations were approved unanimously at the meeting held on August 12, 2026.
• Public shareholders are advised to independently evaluate the offer.

Regulatory references

• PA, DPS, and LoF dates are May 20, 2026; May 27, 2026; and August 04, 2026 respectively.

Meeting rescheduled

• Board meeting adjourned from 11 August 2026 to 14 August 2026.
• Venue remains at the same location as previously scheduled.
• Original date noted as 11 August 2026.
• Agenda: consider and approve standalone unaudited financial results for quarter ended 30 June 2026 with Limited Review Report.
• Reason for adjournment not stated.
• Trading window reopening not mentioned in the update.
• No other material governance or financial actions disclosed.

Offer overview

• Open Offer to acquire up to 1,52,880 equity shares representing 26% voting share at ₹355 per share.
• Total offer size ₹5,42,72,400; funded by acquirers; no minimum acceptance; not a competing offer.
• Promoter seller Deniis Desai to be reclassified as public post-completion.

Transaction details

• SPA dated May 20, 2026; promoter shares 1,71,493 (29.17%) pre-transaction; nil post.
• Earnest Money Deposit ₹4,28,73,250 paid; balance payable on completion.

Funding and timelines

• Cash escrow ₹1.40 crore with Yes Bank; 25.8% of maximum consideration; manager to operate escrow.
• Offer opens on 17 August 2026 and closes on 31 August 2026; identified date 3 August 2026.
• Target to maintain minimum 25% public shareholding post-transaction.

Dematerialisation status

• No demat/remat requests were received; none processed during the quarter.
• Securities dematerialised have been listed on the stock exchanges where earlier issued securities are listed.
• Physical certificates received for dematerialisation were mutilated and cancelled; depository updated as registered owner within timelines.