Abhishek Ashvinbhai Kamdar HUF has disclosed a significant increase in its shareholding in Kalind Limited (formerly known as Arunis Adobe Limited) under Regulation 29(2) of SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011. The disclosure, dated April 7, 2026, reveals the acquisition of additional equity shares through open market transactions.

Shareholding Details

The HUF's shareholding position shows a notable increase following the recent acquisition:

Transaction Details

The acquisition was completed through open market purchases on April 6, 2026. Abhishek Ashvinbhai Kamdar HUF, acting as a non-promoter entity, acquired 27,95,961 shares representing 2.29% of the total share capital. The transaction increased the HUF's total shareholding from 5.48% to 7.77% in the target company.

Company Information

Share Capital Structure

Kalind Limited maintains a consistent equity share capital structure before and after the acquisition. The company's total equity share capital comprises 12,18,90,000 shares with a face value of Rs. 10 each, aggregating to Rs. 121,89,00,000. The diluted share capital remains unchanged at the same level, indicating no outstanding convertible securities or warrants.

Regulatory Compliance

The disclosure fulfills the requirements under Regulation 29(2) of SEBI's takeover regulations, which mandates disclosure when there is a change in shareholding or voting rights. The HUF, represented by its Karta Abhishek Ashvinbhai Kamdar, submitted the required documentation to both BSE Limited and the company secretary of Kalind Limited, ensuring full regulatory compliance with the substantial acquisition norms.

Kalind Limited has announced comprehensive corporate developments following its Board of Directors meeting and subsequent regulatory submissions. The company has appointed a new Independent Director, approved major amendments to its constitutional documents, and formally submitted applications for promoter reclassification to BSE Limited in compliance with SEBI regulations.

Independent Director Appointment

The Board approved the appointment of Ms. Payal Bafna (DIN: 09075302) as Additional Director designated as Non-Executive Independent Director for a five-year term from April 6, 2026 to April 5, 2031, subject to shareholder approval. Ms. Bafna brings over 10 years of expertise in Company Law, SEBI regulations, and Legal Compliance, having served as Company Secretary and Legal Manager for various listed entities before transitioning to independent practice in 2022.

Formal BSE Application for Promoter Reclassification

On April 7, 2026, the company formally submitted an application to BSE Limited seeking "no-objection" for reclassification of two promoters from 'Promoter Group' category to 'Public' category under Regulation 31A of SEBI LODR Regulations. This follows the Board's earlier approval of reclassification requests from both promoters.

Both promoters confirmed they do not exercise control over company affairs, hold no special rights, are not represented on the board, and meet all conditions prescribed under Regulation 31A(3)(b) of SEBI LODR Regulations.

Board Committee Restructuring

Following the appointment, the company has reconstituted its Board committees in compliance with regulatory requirements:

Constitutional Document Amendments

The Board approved significant amendments to the company's Memorandum of Association (MOA) and Articles of Association (AOA), subject to shareholder approval through postal ballot. The amendments include addition of new business objects in renewable energy and agriculture sectors.

Key new business activities approved for inclusion:

• Engineering, Procurement and Construction (EPC) services for power projects
• Operation and Maintenance (O&M) services for power plants and transmission systems
• Solar and renewable energy generation, transmission and distribution
• Agricultural operations including cultivation, processing and trading of agricultural produce

Postal Ballot Process

The company will conduct a postal ballot through remote e-voting facility for shareholder approval on four key items:

The postal ballot will be conducted in accordance with Section 110 of the Companies Act, 2013 and applicable SEBI regulations. With these changes, the Board composition will comprise six directors: two Executive Directors, one Non-Executive Non-Independent Director, and three Non-Executive Independent Directors, ensuring compliance with regulatory requirements.