Modern Dairies Ltd

Listing approval and share details

• BSE granted listing approval for 3,500,000 equity shares issued on conversion of warrants.
• Shares issued on a preferential basis to Promoters and Promoter Group.
• Face value Rs 10; premium Rs 40 per share.
• Total face value Rs 35,000,000; total premium Rs 140,000,000.
• Listing approval letter dated 13 October 2026.
• Earlier allotment of 3,500,000 equity shares on 10 September 2026.

Modern Dairies Limited – Closure of Trading Window from 1 October 2026 for Designated Persons and their immediate relatives till 48 hours after the declaration of Un-audited Financial Results for the quarter ended 30 September 2026

AGM details

• Date and time: 26 Sep 2026, 11:00 AM; mode: VC/OAVM.
• Voting eligibility cut-off: 19 Sep 2026.

Resolutions and results

• Resolution 1: Adopt audited financial statements; passed (99.99%).
• Resolution 2: Reappointment by rotation; passed (99.99%).
• Resolution 3: Appoint Statutory Auditors; fix remuneration; passed (99.99%).
• Resolution 4: Ratify Cost Auditors' remuneration; passed (99.99%).
• Resolution 5: Approve related party transactions with Nabha Commerce Private Limited; passed (99.99%).
• Resolution 6: Re-appoint Ashwani Kumar Aggarwal as Executive Director; passed (99.99%).

Appointments and governance

• Director rotation: Aggarwal retires by rotation; reappointed.
• Executive Director re-appointment: Aggarwal as Whole-Time Director.

Auditors

• Statutory Auditors appointed; remuneration to be fixed.

Related party approvals

• Material related party transactions with Nabha Commerce Private Limited approved.

Executive Director – Re-appointment

• Re-appointment of Mr. Ashwani Kumar Aggarwal as Executive (Whole-Time) Director, effective 26 September 2026, for three years.
• Profile: Dairy Technologist with over three decades' international experience; associated with the company since inception.

Statutory Auditor – Appointment

• Appointment of M/s. Sanjeev Sharma & Associates as Statutory Auditors for one year (2026 AGM to 2027 AGM).
• Firm profile: Established 1993; ICAI/C&AG/RBI registered; specializes in statutory, internal, GST, and compliance services.
• Reason for change: Appointment as Statutory Auditors for the year ending 2027.

AGM Details

• AGM held Saturday, 26 September 2026 at 11:00 AM via VC/OAVM.
• Total members present via VC/OAVM: 68.
• Remote e-voting period: 23 Sep 2026 9:00 to 25 Sep 2026 5:00.
• Scrutinizer for remote e-voting: Rajeev Kumar Sanger, Practicing Company Secretary.
• Meeting concluded at 11:38 AM IST.

Ordinary Business

• Adopt Audited Financial Statements for year ended 31 March 2026.
• Appoint director replacing Ashwani Kumar Aggarwal, retiring by rotation.
• Appoint Sanjeev Sharma & Associates as Statutory Auditors for one year.

Special Business

• Ratify remuneration of Cost Auditors for FY ending 31 March 2027.
• Approve material related party transactions with Nabha Commerce Private Limited.
• Re-appoint Ashwani Kumar Aggarwal as Executive Director for three years.

Voting Status

• E-voting results to be announced within two working days.
• Results to be intimated to Stock Exchange and posted on company/NSDL sites.

PIT 7(2) promoter disclosures

• Disclosure under Regulation 7(2) PIT for promoter group acquisitions via convertible warrants on preferential basis.
• Promoter Group entities disclosed: Krishan Goyal HUF, Chandigarh Finance Pvt Ltd, Aditya Goyal.
• Krishan Goyal HUF acquired 4,00,000 shares at Rs 50 per share (Rs 40 premium).
• Chandigarh Finance Private Limited acquired 3,00,000 shares at Rs 50 per share (Rs 40 premium).
• Aditya Goyal acquired 12,00,000 shares at Rs 50 per share (Rs 40 premium).
• Total promoter acquisitions: 19,00,000 shares valued at Rs 9.5 crore.
• Conversion rights exercised under Convertible Warrants issued on preferential basis.

Krishan Goyal HUF – Transaction

• Target: Modern Dairies Limited.
• Disclosing Party: Krishan Goyal HUF (Promoter Group).
• Transaction Type: Acquisition via warrant conversion.
• Pre-transaction voting rights: 18,80,000 shares (6.26%).
• Acquired: 4,00,000 shares (1.25%).
• Post-transaction voting rights: 22,80,000 shares (7.14%).
• Mode: Conversion of warrants through Preferential Allotment.
• Date: 10.09.2026.
• Equity capital before: Rs. 30,01,98,610.
• Equity capital after: Rs. 31,91,98,610.
• Total diluted capital after: Rs. 31,91,98,610.

Mr. Aditya Goyal – Transaction

• Target: Modern Dairies Limited.
• Disclosing Party: Mr. Aditya Goyal (Promoter Group).
• Transaction Type: Acquisition via warrant conversion.
• Pre-transaction voting rights: 8,83,872 shares (2.94%).
• Acquired: 12,00,000 shares (3.76%).
• Post-transaction voting rights: 20,83,872 shares (6.53%).
• Mode: Conversion of warrants through Preferential Allotment.
• Date: 10.09.2026.
• Equity capital before: Rs. 30,01,98,610.
• Equity capital after: Rs. 31,91,98,610.
• Total diluted capital after: Rs. 31,91,98,610.

Chandigarh Finance Private Limited – Transaction

• Target: Modern Dairies Limited.
• Disclosing Party: Chandigarh Finance Private Limited (Promoter Group).
• Transaction Type: Acquisition via warrant conversion.
• Pre-transaction voting rights: 24,71,892 shares (8.23%).
• Acquired: 3,00,000 shares (0.94%).
• Post-transaction voting rights: 27,71,892 shares (8.68%).
• Mode: Conversion of warrants through Preferential Allotment.
• Date: 10.09.2026.
• Equity capital before: Rs. 30,01,98,610.
• Equity capital after: Rs. 31,91,98,610.
• Total diluted capital after: Rs. 31,91,98,610.

Promoter shareholding change

• Promoter Krishan Kumar Goyal and PAC acquired 1,900,000 equity shares on conversion of convertible warrants.
• Disclosures filed under SEBI Regulation 29(2) for change in promoter holding.
• Date of disclosure: 11 September 2026; Scrip: Modern Dairies Ltd, 519287, ISIN INE617B01011.
• Instrument: conversion of Convertible Warrants issued on a preferential basis.

Warrant conversion and capital impact

• Promoters converted 86,00,000 FCWs into equity shares.
• Paid-up capital increased to Rs 31,91,98,610 from Rs 23,31,98,610.
• Promoters hold 1,92,59,879 shares, 60.34% of enhanced capital.
• Premium of Rs 40 per share; total Rs 34,40,00,000 to Reserve & Surplus.
• Final tranche of allotment approved on September 10, 2026.
• Warrant subscription price Rs 12.50 upfront; conversion price Rs 37.50.
• Shares rank pari-passu with existing equity.
• Six promoter-group allottees received warrants.