Bhatia comms & retail (India) Limited has filed its quarterly compliance certificate with BSE Limited under SEBI's depositories regulations for the quarter ended March 31, 2026. The certificate submission on April 8, 2026, fulfills the company's regulatory obligations regarding share dematerialization processes.

Regulatory Compliance Certificate

The company submitted the mandatory certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. This regulation requires listed companies to confirm proper handling of securities received for dematerialization and adherence to prescribed timelines.

Registrar Confirmation

Purva Sharegistry (India) Private Limited, the company's registrar and transfer agent, provided the underlying certificate confirming compliance with dematerialization procedures. The registrar holds SEBI registration number INR000001112 as a Category 1 Registrars to IPO & Share Transfer Agent.

Ms. Deepali Gaonkar, Compliance Officer at Purva Sharegistry, certified that all securities received for dematerialization during the quarter were processed according to regulatory requirements and prescribed timelines.

Dematerialization Activity

The detailed report shows no dematerialization activity during the quarter from January 1, 2026 to March 31, 2026:

Compliance Confirmation

The certificate confirms that the company maintains proper records and follows SEBI guidelines for share transfer processes. The filing ensures transparency in the company's share dematerialization activities and demonstrates adherence to regulatory frameworks governing depositories and participants.

This quarterly submission represents part of the ongoing regulatory compliance requirements for listed companies to maintain accurate records of share transfers and dematerialization processes.

Bhatia comms & retail has completed the conversion of 1,05,00,000 warrants into equity shares, marking a significant capital restructuring exercise. The Board of Directors approved the conversion on March 09, 2026, following the receipt of balance payment from warrant holders.

Warrant Conversion Details

The conversion involved 1,05,00,000 warrants being converted into an equal number of equity shares at an issue price of Rs. 23.75 per share, including a premium of Rs. 22.75 per share. The company received Rs. 18,70,31,250 as the balance amount at the rate of Rs. 17.8125 per warrant, representing 75% of the issue price.

Allottee-wise Breakdown

The warrant conversion was distributed among five allottees, comprising both promoter group members and non-promoter investors:

Forbes EMF emerged as the largest subscriber, converting 50,00,000 warrants and receiving 3.55% stake in the company post-conversion.

Regulatory Disclosure by Garima Nikhil Bhatia

Following the warrant conversion, Garima Nikhil Bhatia has filed a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure, dated March 11, 2026, provides detailed information about her shareholding changes.

Garima Nikhil Bhatia, identified as a promoter group member, acquired 25,00,000 shares through the warrant conversion process, increasing her voting rights from a negligible 0.00% to 1.78% of the company's total share capital.

Capital Structure Impact

Following the warrant conversion, the company's issued and paid-up capital has increased from Rs. 13,01,52,000 to Rs. 14,06,52,000, consisting of 14,06,52,000 equity shares of Re. 1 each. The newly allotted equity shares rank pari-passu with existing equity shares, providing equal rights and privileges to all shareholders.

The warrants were originally allotted on September 11, 2024, on a preferential basis under SEBI (ICDR) Regulations, 2018. Warrant holders had initially paid 25% of the issue price at Rs. 5.9375 per warrant during the initial allotment phase. With this conversion, all outstanding warrants have been fully converted into equity shares, with no warrants remaining for future conversion.