Jagsonpal Services Ltd

Acquisition details

• Target: Elanistech Private Limited, Karnataka-based software firm.
• Valuation: Rs 114.86 Cr; turnover Rs 2.58 Cr as of 31 Mar 2026.
• Related party: Yes; promoter Karthik Srinivasan holds directorship/shareholding in Elanistech.
• Industry: Software for financial services and electronic payments.
• Objects: Acquisition to kickstart revenue; aligns with Jagsonpal's core business.
• Regulatory approvals: None required.
• Timeline: Completion within 3 months, extendable by mutual agreement.
• Consideration: Cash, in one or more tranches.
• Purchase price: Rs 10 Crore.
• Shareholding acquired: None; not acquiring equity stake.
• Background: Incorporated 21 Aug 2019 in Karnataka; software for financial services.
• Turnover history: 2026 Rs 2.58 Cr; 2025 Rs 0.01 Cr; 2024 Nil.
• Presence: India.

AGM Details

• 35th AGM held on 29 September 2026 at 11:00 AM via VC/OAVM.
• Voting combined remote e-voting and AGM e-voting per notice.

Resolutions

• Resolution 1: Adoption of Audited Financial Statements for FY ended March 31, 2026.
• Resolution 2: Re-appointment of director by rotation (retiring at AGM).

Voting Outcome

• Both resolutions passed with requisite majority; minimal dissent.
• Total votes polled: 1,57,15,292; in favour: 1,57,14,738; against: 554.

AGM outcomes

• 35th AGM held on 29 September 2026 via VC/OAVM; proceedings summary provided.
• Audited financial statements for year ended 31 March 2026 adopted.
• Statutory auditor's report for FY2025-26 had no qualifications.
• Director Pearce to be considered for re-appointment after retirement by rotation.
• Resolutions put to vote by remote e-voting; results to be announced within 48 hours.
• Proxy attendance not permitted; voting conducted electronically via NSDL.

Acquisition details

• Target: Elanistech Private Limited, India; develops software for financial services and electronic payments.
• Acquisition scope: software platform, assets, IP, brands, and HR resources.
• Size: Net worth Rs 50.80 lacs; turnover Nil as of 31 March 2026.
• Related party: Yes; promoter Karthik Srinivasan has interests in both Jagsonpal and Elanistech.
• Industry: Software focused on financial services and payments.
• Rationale: Commercially beneficial, kickstarts revenue, aligns with Jagsonpal's primary business.
• Regulatory: None required.
• Timeline: Completion within 3 months, with possible mutual extension.
• Consideration: Cash in one or more tranches.
• Price: Total purchase consideration Rs 10 crore.
• Equity stake: Not disclosed.
• Background: Elanistech, Karnataka-incorporated; 21 Aug 2026; fintech/payments software; NIL turnover; India presence.

Jagsonpal Services Limited trading window closed from 1 October 2026 until the completion of 48 hours after the approval and declaration of the unaudited financial results for the quarter ended 30 September 2026

Public notice disclosure

• Public notice extract published in Financial Express (English) and Mumbai Lakshadeep (Marathi) dated 23 September 2026.
• Disclosure under Regulation 30 of SEBI LODR; Jagsonpal Services Limited.
• Company formerly known as Jagsonpal Finance and Leasing Limited.
• Signature by Karthik Srinivasan, Chairman, Managing Director & Chief Financial Officer.
• Date of publication: 23 September 2026.