Bazel International Limited has witnessed significant shareholding changes following warrant conversions that triggered multiple SEBI disclosure requirements. The company issued a corrigendum dated April 2, 2026, to correct shareholding details disclosed in its Board meeting outcome of March 30, 2026, while two major investors filed substantial acquisition disclosures.

SEBI SAST Disclosure Requirements

Two entities have filed mandatory disclosures under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, following substantial acquisitions in Bazel International Limited through preferential allotment pursuant to warrant conversion.

Major Shareholding Changes

Durgesh Merchants Limited Acquisition

Durgesh Merchants Limited significantly increased its stake through warrant conversion, with the company correcting a typographical error in the initial shareholding disclosure.

Garbi Finvest Limited Acquisition

Garbi Finvest Limited (formerly Golden Properties & Traders Limited) emerged as a new major shareholder through warrant conversion, acquiring a substantial stake from zero holdings.

Board Meeting Outcomes

The Board of Directors meeting held on March 30, 2026, approved several key decisions including the appointment of a new director and warrant conversions.

Director Appointment

The Board appointed Mr. Mayank Ahuja (DIN: 10388943) as Additional Director in the Non-Executive, Non-Independent category. The 23-year-old director brings extensive experience working with international FMCG, Consumer, and SaaS-based companies, including collaboration with executives at Edelman, the world's leading PR agency.

Warrant Conversion and Capital Structure

The company completed the allotment of 21,04,802 fully paid-up equity shares of face value ₹10.00 each to warrant holders from the non-promoter group. The conversion was executed at an issue price of ₹42.12 per share, including a premium of ₹32.12 per share.

Major Allottees Distribution

The warrant conversion involved multiple investors with significant allocations distributed among key entities and individual investors.

Authorized Capital Enhancement

The Board also approved a partial implementation of the authorized share capital increase, previously approved by shareholders at the Annual General Meeting held on September 29, 2025. The authorized equity share capital increased from ₹7,75,00,000.00 to ₹10,25,00,000.00 through the creation of 25,00,000 additional equity shares of ₹10.00 each.

All newly allotted equity shares rank pari passu with existing equity shares of the company. The Board meeting commenced at 12:00 PM and concluded at 3:00 PM on March 30, 2026.

Bazel International Limited has successfully concluded its board meeting held on March 30, 2026, approving significant corporate actions including director appointment and substantial equity allotment. The registered non-banking financial company conducted the meeting from 12:00 PM to 3:00 PM through video conferencing, addressing key agenda items as previously announced.

Director Appointment and Corporate Governance

The board approved the appointment of Mr. Mayank Ahuja (DIN: 10388943) as Additional Director in the Non-Executive, Non-Independent category. The 23-year-old professional brings extensive experience working with international FMCG, Consumer, and SaaS-based companies, having collaborated with executives at Edelman, the world's leading PR agency.

Equity Allotment Through Warrant Conversion

The board approved the allotment of 21,04,802 fully paid-up equity shares of face value ₹10 each to warrant holders from the non-promoter group. The conversion was executed at an issue price of ₹42.12 per share, including a premium of ₹32.12 per share, generating total proceeds of ₹6,64,90,695.18.

Share Capital Enhancement

Following the equity allotment, the company's paid-up equity capital increased substantially from ₹7,71,04,440 to ₹9,81,52,460. Additionally, the board approved a partial implementation of the authorized share capital increase, raising it from ₹7,75,00,000 to ₹10,25,00,000 through the creation of 25,00,000 additional equity shares.

Key Allottees and Shareholding Pattern

The warrant conversion involved ten investors, with Garbi Finvest Limited receiving the largest allocation of 12,45,159 shares (12.69% stake), followed by Durgesh Merchants Limited with 6,38,643 shares. Other allottees include individual investors and HUFs receiving smaller allocations ranging from 20,000 to 36,000 shares each.

Regulatory Compliance

The allotment complies with the Companies Act, 2013, and SEBI (ICDR) Regulations, 2018. The newly allotted equity shares rank pari passu with existing equity shares in all respects. The company has fulfilled all disclosure requirements under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.