Dwarikesh Sugar Industries Limited has submitted its initial disclosure as a Large Corporate entity to the stock exchanges, complying with SEBI's regulatory framework for large corporate borrowing requirements. The submission was made on April 02, 2026, addressing the requirements under SEBI Circular dated October 19, 2023.

Financial Position and Borrowings

The company disclosed its financial standing as part of the mandatory Large Corporate framework requirements. The disclosure provides transparency regarding the company's debt position and credit profile.

Regulatory Compliance Framework

The disclosure was made in reference to multiple SEBI circulars that govern Large Corporate entities. The regulatory framework requires companies meeting specific criteria to maintain certain borrowing levels through debt securities markets.

Key regulatory references include:

• SEBI Circular SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023
• SEBI Operational Circular No. SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021
• SEBI Circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018

Stock Exchange Compliance

As part of the disclosure requirements, Dwarikesh Sugar Industries has identified the stock exchanges where potential fines would be paid in case of shortfall in mandatory borrowing through debt markets. The company has designated both BSE Limited and National Stock Exchange of India Limited for this purpose.

Company Status Clarification

Interestingly, the company has also confirmed that it does not qualify as a Large Corporate as per the applicability criteria given in SEBI Circular dated November 26, 2018. This clarification was provided alongside the initial disclosure submission.

Penalty Framework

Under the regulatory framework, entities identified as Large Corporates face a fine of 0.2% of any shortfall in mandatory borrowing through debt securities at the end of each two-year block period. This penalty mechanism ensures compliance with the debt market borrowing requirements established by SEBI.

Dwarikesh Sugar Industries has disclosed another substantial acquisition by promoter Gautam Radheshyam Morarka under SEBI's regulatory framework. The latest transaction represents a continued strategic increase in the promoter's stake in the sugar manufacturing company.

Latest Transaction Details

Gautam Radheshyam Morarka acquired 12,500 equity shares of Dwarikesh Sugar Industries Limited through market purchase on March 20, 2026. The acquisition represents 0.01% of the company's total share capital.

Updated Shareholding Pattern

The latest acquisition has resulted in a further increase in Morarka's shareholding percentage in the company. As a promoter of Dwarikesh Sugar Industries, this transaction continues to strengthen his stake in the organization.

Regulatory Compliance

The disclosure was filed in accordance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company's shares are listed on both BSE Ltd. and National Stock Exchange of India Limited.

Key regulatory aspects of the latest transaction include:

• No encumbrances reported on the acquired shares
• No voting rights acquired other than through equity shares
• No warrants or convertible securities involved in the transaction
• Promoter status confirmed for the acquirer

Company Information

Dwarikesh Sugar Industries Limited maintains its equity share capital at 185,301,470 shares. The company's total voting capital remains unchanged following this acquisition, with no dilution reported in the disclosure. The promoter's cumulative stake now stands at 15.22% through these market purchases.