Alan Scott Enterprises held its 32nd Annual General Meeting on September 29, 2026, via video conferencing. The meeting addressed financial performance, governance updates, and several special business resolutions.

Governance and Board Appointments

The Board proposed and members considered the appointment of two new Independent Directors for five-year terms: Mr. Kevin John (DIN: 11369050) and Mr. Kakkayur Palliyil Pradeep (DIN: 05190515). Additionally, Mr. Sureshkumar Jain (DIN: 00048463), the Managing Director and CEO, was reappointed for a term of five years. Ms. Darshan Suresh Jain (DIN: 07392244) was also re-appointed as she retired by rotation.

The meeting noted that the company’s name change from Alan Scott Industries Limited to Alan Scott Enterprises Limited was approved at the 29th AGM in September 2023. A certificate from the Practicing Auditor confirming compliance with SEBI listing regulations regarding this name change was placed before the members for record, following an inadvertent omission in previous meetings.

Special Business Resolutions

Shareholders voted on several special resolutions aimed at expanding operational flexibility and updating corporate governance documents:

• Borrowing Powers: Approval to increase the borrowing powers of the company.
• Investments and Loans: Approval to make investments, grant loans, provide guarantees, and give securities in excess of limits specified under Section 186 of the Companies Act, 2013.
• Constitutional Changes: Approval to alter the Memorandum of Association (MOA) and adopt a new set of Articles of Association (AOA) in line with the Companies Act, 2013.

Financial Performance Briefing

Mr. Sureshkumar Jain briefed members on the financial performance of the company and its subsidiaries for the fiscal year ended March 31, 2026, compared to the previous year. The Chairman also outlined the strategic roadmap for the company and its subsidiaries. The audited standalone and consolidated financial statements for FY26 were presented for adoption.

Meeting Proceedings

The meeting commenced at 11:30 am and concluded at 11:58 am. Voting results will be declared upon receipt of the Scrutinizer's Report. The requisite quorum was present throughout the proceedings.

Alan Scott Enterprises Limited has completed its rights issue of 9,52,931 partly paid-up equity shares at a price of ₹75 per share, aggregating up to ₹714.70 lakhs. The allotment was finalized on September 17, 2026, following the closure of the subscription period on September 15, 2026.

The company offered the shares to eligible equity shareholders in a ratio of 1:6, meaning one right share for every six equity shares held as of the record date, August 21, 2026. The issue price included a premium of ₹65 per share over the face value of ₹10. The subscription window opened on September 1, 2026, and closed on September 15, 2026, with market renunciation ending on September 9, 2026.

Subscription and Allotment Details

The company received 1,191 applications for 25,49,900 right shares, amounting to ₹10,19,96,000. After processing rejections due to multiple applications, ineligible status, or PAN mismatches, 917 valid applications remained. The basis of allotment was finalized in consultation with the registrar and BSE Limited.

Note: The total amount listed above reflects the paid-up portion or specific allotment calculations as per the filing tables, distinct from the gross aggregate issue size.

What the Numbers Show

The data reveals a high rejection rate among retail applications. Out of 1,191 total applications, 273 were rejected, representing approximately 23% of the total count. A significant portion of these rejections (260 applications) stemmed from applicants not being eligible equity shareholders, suggesting potential errors in entitlement verification or application eligibility by a subset of investors. Despite this, the issue was fully subscribed, with all valid applications considered for allotment.

Regulatory Compliance and Timeline

The rights issue received in-principle approval from BSE on August 5, 2026, followed by listing approval on September 21, 2026. The post-issue advertisement was published in Financial Express, Janasatta, and Pratahaka on September 25, 2026. Demat credits for allotted shares were completed with depositories on September 21, 2026. The company confirmed that fractional entitlements were ignored as per SEBI circulars.