Desi Farms India Limited has adjourned the board meeting scheduled on June 26, 2026, citing the need for additional information and deliberations. The meeting was originally convened to consider and approve the audited financial results for the quarter and financial year ended March 31, 2026. The delay impacts the timeline for the release of the company's annual financial performance.

The board meeting commenced as scheduled on June 26, 2026, but could not proceed to a conclusion. Consequently, the directors decided to defer the proceedings to a later date. The company stated that the meeting will be reconvened on a date to be decided subsequently to finalize the approval of the financial statements.

The revised date for the adjourned board meeting will be intimated separately to the stock exchanges in due course. The company confirmed that this announcement will be made in accordance with the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Following the adjournment, the company also clarified the status of the trading window for insiders. The window will remain closed and will open 48 hours after the financial results for the financial year ended March 31, 2026 become generally available information. This measure is intended to prevent insider trading during the sensitive period surrounding the results announcement.

The intimation regarding the adjournment was submitted to BSE Limited on June 26, 2026. The letter was signed by Sunil Kumar Shahi, Managing Director of Desi Farms India Limited.

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.