Bhandari hosiery exports Limited has filed its quarterly compliance certificate with stock exchanges, fulfilling regulatory requirements under SEBI depositories regulations for the quarter ended March 31, 2026.

Regulatory Compliance Filing

The company submitted a certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulation, 2018 to both BSE Limited and National Stock Exchange of India Ltd on April 7, 2026. The filing was signed by Shilpa Tiwari, Company Secretary & Compliance Officer.

Registrar Confirmation

MUFG Intime India Pvt. Ltd., serving as the company's Registrar and Share Transfer Agent, issued the compliance certificate on April 6, 2026. The certificate was signed by Swapan Kr Naskar, Associate Vice-President & Head (Delhi Bench).

Certificate Confirmations

The registrar confirmed several key compliance aspects for the quarter:

• Securities received from depository participants for dematerialisation were properly confirmed to depositories
• All securities comprised in certificates have been listed on stock exchanges where earlier issued securities are listed
• Security certificates received for dematerialisation were confirmed or rejected within prescribed timelines
• Received certificates were mutilated and cancelled after due verification by depository participants
• Depository names were substituted in the register of members as registered owners

Company Information

The compliance filing demonstrates Bhandari Hosiery Exports Limited's adherence to SEBI regulations governing depositories and participants, ensuring proper handling of securities dematerialisation processes during the quarter ended March 31, 2026.

Bhandari Hosiery Exports Limited has submitted regulatory filings to BSE and NSE regarding significant developments in its rights issue, including substantial share acquisition by promoter group entity Tikani Exports Limited and subsequent revision in fund utilization plans due to under-subscription.

Major Shareholding Changes Through Rights Issue

Tikani Exports Limited dramatically expanded its stake in Bhandari Hosiery Exports through participation in the rights issue, including subscription to shares arising from renunciation of entitlements by other promoters. The acquisition encompasses shares beyond Tikani's original entitlement, with renunciations coming from key promoters Nitin Bhandari and Nitika Rashesh Shah.

Promoter Group Shareholding Structure

The rights issue resulted in changes across the promoter group shareholding pattern, with various entities adjusting their positions following the capital raising exercise.

Board Approves Revised Fund Utilization Plan

The company's Board of Directors has approved a revision in the utilization of funds raised through the rights issue due to 48.44% under-subscription. The Chairman explained that limited banking days between fund release and March 2026 prevented complete deployment within the original timeline. The company utilized ₹678 lakhs towards repayment of MSME creditors, suppliers of raw materials, dyes, chemicals, consumables, and rights issue expenses.

Regulatory Compliance and Exemptions

The acquisition by Tikani Exports Limited falls under exemptions prescribed under Regulation 10(4) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011. The entity is exempt from making an open offer as the transaction qualifies as acquisition beyond entitlement pursuant to a rights issue. The exemption applies based on two key conditions: the acquirer has not renounced any entitlements and the rights issue price is not higher than the ex-rights price of the target company shares.

Bhandari Hosiery Exports filed mandatory reports under SEBI regulations with both BSE (Scrip Code: 512608) and NSE (Symbol: BHANDARI), confirming compliance with all regulatory requirements for the substantial acquisition and fund utilization revision.