Kesar Petroproducts Ltd

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08-06-2026 | 06:08 pm

08.06.2026

To,

The General Manager

Department of Corporate Services

BSE Limited

Floor 25, P. J. Towers, Dalal Street,

Mumbai‐ 400 001

Company Scrip Code: 524174

Dear Sir/Madam,

Subject: Outcome of the Meeting of the Board of Directors of the Company held on June 08, 2026.

Ref: Regulation 30 read with Part A of Schedule III of the Securities Exchange Board of India

(Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing

Regulations”).

Pursuant to Regulation 30 read with Part A of Schedule III of the Securities and Exchange Board of

India (Listing Obligations and Disclosure Requirements) Regulations, 2015, We wish to inform you

that, the Members of the Board of Directors of the Company at its Meeting held today i.e., Monday,

June 08, 2026 has inter alia transacted the following businesses:

1. Allotment of 1,50,00,000 Equity Shares to Promoter Group, Category upon Exercising Option on

Conversion of the Convertible Warrants

Further to our letter dated December 10, 2024 this is to inform you that two of the Warrants holders of

the Preferential issue made pursuant to Special Resolution passed through Extra-Ordinary General

Meeting dated November 13, 2024 and allotted by the Board of Directors in their Meeting held on

December 10, 2024, exercised the option for the conversion of total 1,50,00,000 (One Crore Fiftyt

Lakhs) Warrants into equivalent Equity Shares having face value of Re. 1/- (Rupee One Only) each of

the Company.

In this regard, we wish to inform you that, upon receipt of an amount aggregating to Rs 21,15,00,000/-

(Rupees Twenty-One Crores Fifteen Lakhs Only), being 75% of the balance amount on the said

Warrants, the Board of Directors of the Company at their Meeting held today i.e. June 08, 2026, have

allotted 1,50,00,000 Equity Shares to Promoter Group having face value of Re. 1/- (Rupee One Only)

each at a premium of Rs. 17.80/- (Rupees Seventeen and Eighty Paisa Only) per shares. The details of

the Allottees are given below:

Name of Allottees

Category

No. of

warrants held

Number of warrants

converted into Equity

Dinesh Shankarlal Sharma

Promoter Group

86,00,000 75,00,000

Shreyas Dinesh Sharma

Promoter Group

86,00,000 75,00,000

----------------Page (0) Break----------------

Total 1,72,00,000

1,50,00,000

Consequently, w.e.f. June 08, 2026, the Issued, Subscribed and Paid-up Equity Share Capital of the

Company stands increased to Rs. 11,16,73,170/- (Rupees Eleven Crores Sixteen Lakhs Seventy-Three

Thousand One Hundred Seventy Only) each.

The new Equity Shares so allotted, shall rank pari passu with the existing Equity Shares of the

Company.

Details relating to preferential issue of convertible warrants as required under Regulation 30 of the SEBI

(LODR) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123

dated 13th July, 2023 (“SEBI Circular”), are provided in Annexure-I.

2. Forfeiture of 25% Upfront Money Received Against Non-Exercised Convertible Warrants

and Cancellation of Warrants

Further to our letter dated December 10, 2024 and pursuant to Regulation 169 (3) of the

Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements)

Regulations, 2018, we wish to inform you that, 52,00,000 (Fifty Two Lakhs) warrants held by

Promoter and Non-Promoter Group failed to pay the balance 75% of the amount with the due

date and hence have not exercised the option to convert these warrants into Equity shares and

thus these warrants lapsed / cancelled and initial amount paid i.e., 25% upfront application

money amounting to Rs. 2,44,40,000/- (Rupees Two Crores Forty Four Lakhs Forty Thousand

Only) at the time of allotment of warrants, have been forfeited in accordance with the terms of

the issue/ allotment. Further details are provided in Annexure II enclosed herewith.

Kindly take the aforesaid information on your records.

Thanking you,

Yours Faithfully,

For Kesar Petroproducts Limited

Ramjan Kadar Shaikh

Wholetime Director

(DIN 08286732)

----------------Page (1) Break----------------

ANNEXURE I

Disclosure of Event and Information pursuant to Regulation 30 of the SEBI Listing Regulations

read with SEBI circular SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023 and

SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

Sr. No. Particulars of Securities

Details of Securities

a) Type of securities

proposed to be issued

Equity Shares pursuant to conversion of Warrants

b) Type of issuance (further

public offering, rights

issue, depository receipts

(ADR/ GDR), qualified

institutions placement,

preferential allotment etc.)

Preferential allotment on a private placement basis in

accordance with the provisions of the Companies Act, 2013

and the rules made thereunder and SEBI (Issue of Capital

and Disclosure Requirements) Regulations 2018, as

amended ("ICDR Regulations”) and other applicable laws

c) Total number of securities

proposed to be issued or

the total amount for which

the securities will be

issued

1. Allotment of 1,50,00,000 Equity Shares to Promoter

Group having face value of Re. 1/- (Rupee One Only) each

upon conversion of equal number of Warrants at an issue

price of Rs. 18.80/- each (Rupees Eighteen and Eighty Paisa

Only) upon receipt of balance amount at the rate of Rs. 14.10

(Rupees Fourteen and Ten Paisa Only) per warrant (being

75% of the issue price per warrant) amounting to Rs.

21,15,00,000/- (Rupees Twenty-One Crores Fifteen Lakhs

Only)

In case of preferential issue the listed entity shall disclose the following additional details to

the Stock Exchange(s):

I Name of the Investors

1. Dinesh Shankarlal Sharma

2. Shreyas Dinesh Sharma

ii Post Allotment of

securities - outcome of

the subscription, issue

price / allotted

price (in case of

convertibles)

Name of

Allottees

Category Issue Pric/

Allotted

Price

No. of Equity

shares allotted

upon

conversion of

warrants

1.Dinesh

Shankarlal

Sharma

Promoter

Group

18.80 75,00,000

2.Shreyas

Dinesh Sharma

Promoter

Group

18.80 75,00,000

Pursuant to conversion of the aforesaid warrants into Equity

Shares, the Issued, subscribed and paid-up capital of the

----------------Page (2) Break----------------

Company stands increased to 11,16,73,170 (Eleven Crores

Sixteen Lakhs Seventy-Three Thousand One Hundred

Seventy Only) Equity Shares of Re. 1/- (Rupee One Only)

each.

iii Number of Allottee 2 (Two)

iv in case of convertibles -

intimation on

conversion of

securities or on lapse of

the tenure of the

instrument;

Allotment of 1,50,00,000 Equity Shares, having face value of

Re. 1/- (Rupee One Only) each, pursuant to the conversion of

1,50,00,000 warrants.

v Any cancellation or

termination of proposal

for issuance of

securities Including

reasons thereof

Not Applicable

vi Lock-In

The Warrants/ Resulting Equity Shares shall be subject to ‘lock-

in’ as prescribed under the applicable provisions of the SEBI

(ICDR) Regulations, 2018 as amended.

----------------Page (3) Break----------------

Annexure II

Sr. No Particulars of Securities

Details of Securities

a) Type of securities

Convertible Warrants

b) Type of issuance (further

public offering, rights issue,

depository receipts (ADR/

GDR), qualified institutions

placement, preferential

allotment etc.)

Preferential allotment on a private placement basis in

accordance with the provisions of the Companies Act,

2013 and the rules made thereunder and SEBI (Issue of

Capital and Disclosure Requirements) Regulations 2018,

as amended ("ICDR Regulations”) and other applicable

laws

c) Total number of warrants

originally allotted and issue

price

52,00,000 warrants carrying an entitlement to subscribe

for equivalent number of fully paid-up equity shares of Re.

1/- each, at a price of Rs. 18.80/- per equity share

(including a premium of Rs. 17.80/- per equity share)

d) Upfront amount received at

the time of allotment of

warrants

Rs. 2,44,40,000/- being 25% upfront money of the Issue

Size

e) Number of warrants

exercised within

conversion period

NIL

f) Number of warrants

lapsed/ cancellation due to

non-exercise within the

conversion period

52,00,000

g) Name of the warrant

holders and (number of

warrants lapsed/

cancelled)

Name of Warrant

Holders

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Kesar Petroproducts Ltd — Important, 08-06-2026: Company Update

Company Update