Desi Farms India Limited has secured in-principle approval from BSE Limited to issue equity shares, Compulsorily Convertible Preference Shares (CCPS), and Compulsorily Convertible Debentures (CCDs) on a preferential basis. The issuance, valued at ₹135 per security, will be executed pursuant to a share swap involving both promoters and non-promoters. This capital restructuring move is subject to the company complying with all relevant regulatory provisions before the final allotment.

The exchange approved the issuance of 3,21,20,990 equity shares, 37,61,600 CCPS carrying a 3% coupon rate, and 50,66,356 CCDs carrying a 5% coupon rate. All instruments have a face value of ₹10 each and are being issued for consideration other than cash. The CCPS and CCDs are structured to convert into equity shares, specifically 37,61,600 equity shares from the CCPS and 50,66,356 equity shares from the CCDs, at the predetermined price.

Regulatory Compliance and Conditions

BSE granted the approval under Regulation 28(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The exchange clarified that this in-principle approval does not constitute approval for the listing of the securities. Desi Farms must make a separate listing application and comply with all post-issue formalities, including the submission of applicable fees under Regulation 14 of the LODR Regulations.

The company has been advised to strengthen internal controls to monitor trades executed by the proposed allottees. Specifically, Desi Farms must obtain an undertaking from allottees confirming they will not engage in intra-day trading or sell any shares in the company until the allotment date. The onus of verifying this compliance rests solely on the issuer company to avoid violations of Chapter V of the SEBI (ICDR) Regulations, 2018.

Issuance Details

Following the allotment, the company is required to submit a listing application within twenty days to the recognized stock exchanges as per Schedule XIX – Para (2) of the ICDR Regulations. Failure to comply with this timeline may result in penalties as specified in SEBI circular no. SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023. The exchange reserves the right to withdraw the in-principle approval if any information provided is found to be incomplete or misleading.

Desi Farms India Limited appointed Mrs. Garima Priyani as Company Secretary and Compliance Officer effective June 22, 2026. The Board approved the appointment based on the recommendation of the Nomination and Remuneration Committee, designating her as Key Management Personnel to strengthen the company's governance framework.

The appointment was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board meeting commenced at 7.00 p.m. and concluded at 7.30 p.m. on the same day.

Garima Priyani is a qualified Company Secretary and law graduate with over 9 years of experience in corporate governance, secretarial compliance, and regulatory matters. She has handled board processes, regulatory filings, and corporate disclosures for listed and unlisted entities, with extensive experience liaising with SEBI, ROC, and stock exchanges.