Baid Finserv Limited has filed its mandatory quarterly compliance certificate with stock exchanges for the quarter ended March 31, 2026, demonstrating adherence to regulatory requirements under SEBI depositories regulations.

Regulatory Compliance Filing

The company submitted the certificate to both BSE Limited and National Stock Exchange of India Limited on April 06, 2026, pursuant to Regulation 74(5) of Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018.

Certificate Confirmation

MCS Share Transfer Agent Limited, serving as the company's Registrar to an Issue and Share Transfer Agent, issued the confirmation certificate. The registrar certified compliance with dematerialization requirements for the quarter.

The certificate confirms that within 15 days of receipt of securities for dematerialization:

• Securities comprised in the certificates have been listed on stock exchanges
• Certificates have been duly verified, mutilated and cancelled after proper verification
• The depository name has been substituted in records as the registered owner

Corporate Details

Company Secretary and Compliance Officer Surbhi Rawat digitally signed the submission, ensuring proper authorization and compliance with corporate governance requirements. The filing maintains the company's commitment to regulatory transparency and adherence to SEBI guidelines for depositories and participants.

Baid Finserv Limited has filed regulatory disclosures under SEBI Regulation 29(2) following the successful completion of warrant conversion that resulted in allotment of 48,02,732 equity shares to promoter group entities. The Board of Directors had approved this allotment in a meeting held on March 12, 2026, at the company's registered office in Jaipur.

SEBI Regulatory Compliance and Auditor Certificate Submission

The company submitted mandatory disclosures to BSE Limited and National Stock Exchange of India Limited on March 16, 2026, pursuant to Regulation 29(2) of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Additionally, the company submitted a statutory auditor certificate from M/s ABSM & Associates, Chartered Accountants (Firm Registration No: 015966C) confirming compliance with Regulation 169(5) of the ICDR Regulations.

Warrant Conversion Details and Payment Structure

The warrant conversion involved two promoter group entities converting their holdings after the warrants were originally issued through preferential allotment on April 09, 2025. Each warrant was convertible into one equity share at Rs. 15.10 per share, with warrant holders having paid 25% upfront and the remaining 75% upon conversion. The statutory auditor certified that the company received the full consideration amount of Rs. 5,43,90,940 from the respective allottees' bank accounts.

Auditor Verification and Compliance Certification

M/s ABSM & Associates conducted a limited assurance engagement to verify compliance with ICDR Regulation 169(4) requirements. The auditor confirmed that consideration for warrant conversion was received from respective allottees' bank accounts with no circulation of funds or book entries. The certificate was issued under UDIN: 26402527EJCCCQ6310 by Partner Anoop Bhatia (Membership No: 402527).

Impact on Shareholding Structure

The warrant conversion has significantly enhanced the promoter group's stake in the company, with their collective shareholding increasing from 45.71% to 47.39%. The total promoter group now holds 7,33,99,736 equity shares compared to 6,85,97,004 shares before the conversion.

Outstanding Warrants and Future Conversions

Following this conversion, the promoter group still holds 72,04,099 outstanding warrants that remain convertible. The original warrant issuance included 1,20,06,831 warrants with an 18-month conversion period from the April 2025 allotment date.

The newly allotted equity shares rank pari-passu with existing equity shares and are listed on both BSE Limited and National Stock Exchange of India Limited. The conversion was completed in full compliance with SEBI regulations and ICDR requirements, as certified by the statutory auditor.