Suncity Synthetics Ltd

Capital-raise update

• Board approved withdrawal of the in-principle application for the proposed preferential issue of 3,000,000 equity shares.
• Delays in approvals and some allottees withdrawing led to proceeding in present form being halted.
• Board authorised withdrawal requests to BSE Limited and closing of the in-principle application.
• Company will file further disclosures with stock exchanges and regulators as required.
• Board meeting held on 14 August 2026, 4:00 PM to 6:00 PM.
• Managing Director Sumita Mishra authorised the withdrawal communications.
• Impact: no immediate funding; capital-raising plan to be revised.

Key financial results and governance actions

• Unaudited standalone results for quarter ended 30 Jun 2026 approved with Limited Review Report.
• Notice of 38th AGM approved for 25 Sep 2026 at 3:00 PM via VC/OAVM.
• Board's Report with Annexure and MD&A for FY 2025-26 approved.
• Register of Members and share transfer books closed 19–25 Sep 2026; cut-off date 18 Sep 2026.
• e-voting facility approved; CDSL appointed for remote e-voting and AGM; VC facility via MUFG Intime.
• CS Amarendra Mohapatra appointed Scrutinizer for e-voting.
• Audit Committee reviewed results; Board took on record.

Standalone results details (June 30, 2026)

• Quarter ended 30 Jun 2026 unaudited: net sales 0.00, total revenue 0.00.
• Profit after tax: 1.64; EPS basic/diluted 0.03.
• Total expenses 5.90; profit before tax 1.64; notes indicate limited review.

Dematerialisation status

• Dematerialisation requests in the quarter were processed and confirmed to depositories.
• Dematerialised securities have been listed on the stock exchanges.
• Certificates mutilated and cancelled; depository registered owner updated within prescribed timelines.

Purpose and Capital Structure

• Preferential issue aims to raise Rs. 3 crore by issuing equity shares.
• Post-issue share capital will be 30,98,916 equity shares of Rs. 10 each.
• Capital reduction petition pending before NCLT, unrelated to this issue.

Issue Details

• Issuance of up to 30,00,000 equity shares at Rs. 10 per share.
• Total amount to be raised is Rs. 3,00,00,000.
• Issue price fixed at Rs. 10 per share based on valuation report.

Proposed Allottees and Shareholding

• Promoter Sumita Mishra allotted 15,14,000 shares (48.86% post-issue).
• Non-promoters allotted 14,86,000 shares in tranches of 86,000 to 1,47,000 shares each.
• Post-issue shareholding percentages range from 2.78% to 4.74% for non-promoters.

Approvals and Compliance

• Issue subject to shareholder and regulatory approvals including NCLT.
• Relevant date for preferential issue fixed as 30th March 2026.
• Valuation and compliance certificates obtained from registered valuer and company secretary.

Governance and Meeting Outcomes

• Board approved e-voting facility for shareholders for the EGM.
• Extraordinary General Meeting scheduled on 30th April 2026 via video conference.
• Company Secretary appointed as scrutinizer for e-voting process.

Purpose and Capital Structure

• Preferential issue to raise Rs. 3 crore by issuing 30 lakh equity shares.
• Post-issue share capital to be 31 lakh equity shares of Rs. 10 each.
• Capital reduction petition pending before NCLT, unrelated to this issue.

Issue Details

• Equity shares issued at Rs. 10 per share, face value Rs. 10 each.
• Total amount to be raised: Rs. 3,00,00,000.
• Issue subject to shareholder and regulatory approvals.

Allottees and Shareholding

• 12 allottees: 1 promoter and 11 non-promoters.
• Promoter Sumita Mishra allotted 15,14,000 shares (post-issue 50.31%).
• Non-promoters allotted between 86,000 and 1,47,000 shares each.
• Post-issue shareholding percentages range from 2.77% to 4.74% for non-promoters.

Valuation and Pricing

• Valuation report obtained from IBBI registered valuer.
• Issue price fixed at Rs. 10 per share as per SEBI ICDR regulations.

Approvals and Compliance

• Relevant date fixed as March 30, 2026 for preferential issue.
• Extraordinary General Meeting scheduled for April 30, 2026 for approval.
• E-voting facility to be provided to shareholders for EGM.
• Practicing Company Secretary appointed as scrutinizer for e-voting.

Conversion Terms

• No convertible securities involved; only equity shares issued.

Preferential Issue of Shares

• Board approved preferential issue of up to 30,00,000 equity shares at Rs. 10 each
• Total amount to be raised through issue is Rs. 3 crore
• Post-issue share capital will be 31,00,000 equity shares of Rs. 10 each
• Preferential issue subject to member and regulatory approvals
• Relevant date for preferential issue fixed as March 30, 2026
• Valuation report and pricing certificate obtained confirming Rs. 10 per share price

Share Capital Reduction

• Application for share capital reduction pending with NCLT under petition No. 250/MB/2025
• Preferential issue not linked to capital reduction petition

Proposed Allottees

• Sumita Mishra to receive 15,14,000 shares (promoter)
• Eleven non-promoter allottees to receive between 86,000 and 1,47,000 shares each
• Post-issue promoter holding expected at 50.31%

Extraordinary General Meeting

• EGM scheduled for April 30, 2026 at 2:00 PM via video conference
• E-voting facility to be provided to shareholders through CDSL
• CS Suprabhat Chakraborty appointed as scrutinizer for e-voting