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.

Bazel International Ltd. has issued a corrigendum dated March 09, 2026, to rectify a typographical error in its earlier Board Meeting outcome announcement regarding bonus share allotment. The correction pertains to the face value of equity shares mentioned in the bonus issue paragraph.

Error Correction Details

The company identified an inadvertent typographical error in its February 20, 2026 announcement titled "Board Meeting Outcome for Allotment of Bonus Issue." The face value of equity shares was incorrectly stated as Re. 1/- and Re. 2/- in the bonus issue section. The company has now clarified that the correct face value of equity shares is Rs. 10/- (Rupees Ten only) each.

Bonus Share Allotment Details

According to the revised outcome, the Board of Directors approved the allotment of 38,55,222 (Thirty Eight Lacs Fifty Five Thousand Two Hundred Twenty Two) fully paid-up bonus equity shares. The allotment follows a 1:1 ratio, meaning one equity share of Rs. 10/- each for every one equity share of Rs. 10/- each held by shareholders.

Regulatory Approvals and Compliance

The bonus share allotment received necessary approvals from multiple stakeholders. Shareholders approved the proposal at the 01st EGM of Financial year 2025-26 held on January 30, 2026. Subsequently, BSE Limited granted in-principle approval through letter no. LOD/Bonus/BN-IP/SS/1633/2025-26 dated February 05, 2026.

The allotment complies with SEBI (ICDR) Regulations, 2018 and applicable rules. The bonus equity shares will rank pari-passu and carry the same rights as existing equity shares of the company in all respects. The corrigendum ensures accurate disclosure in compliance with applicable SEBI regulations under Regulation 30 of SEBI LODR.

Company Information

Bazel International Ltd. operates as a registered Non-Banking Financial Company with CIN: L65923DL1982PLC290287. The announcement was signed by Pankaj Dawar, Managing Director (DIN: 06479649), and submitted to BSE Limited for record maintenance. All other contents of the original Board Meeting outcome dated February 20, 2026 remain unchanged except for the face value correction.