EFC (I) Limited has incorporated a new wholly-owned subsidiary, EFC Estate Wakadewadi 1 Private Limited, with the Certificate of Incorporation received from the Ministry of Corporate Affairs on May 6, 2026. The development was disclosed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and communicated to the stock exchanges on the same date.

New Subsidiary Details

The newly incorporated entity, EFC Estate Wakadewadi 1 Private Limited (referred to as 'EFC Wakadewadi 1'), is incorporated in India and belongs to the real estate as a service industry. The subsidiary is set to hold or acquire property situated at the 1st floor, B Wing/building of the commercial complex known as Godrej Eternia, located on sub-divided Final Plot bearing No. 64/A1, 64/B1, and 64/B2 at village Bhamburda – Shivaji Nagar, Taluka Pune City, District Pune, within the limits of Pune Municipal Corporation. This property is to be acquired through a demerger from EFC Limited, which is a material wholly-owned subsidiary of EFC (I) Limited.

Key Incorporation Parameters

The following table summarises the key details of the incorporation as disclosed under Regulation 30 read with Para A of Part A of Schedule III of SEBI Listing Regulations:

Corporate Disclosure

The intimation was signed by Aman Gupta, Company Secretary of EFC (I) Limited, and submitted to both BSE Limited and the National Stock Exchange of India Limited on May 6, 2026. The disclosure was made in compliance with SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. EFC (I) Limited is registered at 6th Floor, VB Capitol Building, Range Hill Road, Opp. Hotel Symphony, Bhoslenagar, Shivajinagar, Pune-411007, Maharashtra.

EFC (I) Limited has submitted its Letter of Offer dated May 1, 2026, to SEBI, BSE Limited, and National Stock Exchange of India on May 6, 2026, in compliance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. The filing follows the Board of Directors meeting held on May 1, 2026, where the company finalised detailed terms for its rights issue, building on in-principle approvals received from BSE and NSE vide their letters dated April 27, 2026.

Rights Issue Structure and Pricing

The company proposes to issue up to 1,06,62,786 fully paid-up equity shares of face value ₹2 each at a price of ₹150 per share, including a share premium of ₹148 per share, aggregating up to ₹15,994.18 Lakhs. The rights equity shares are being offered to eligible equity shareholders in the ratio of 8 rights equity shares for every 103 fully paid-up equity shares held on the record date of Thursday, May 7, 2026.

Share Capital Impact

Prior to the rights issue, the company has 13,72,83,376 outstanding equity shares. Assuming full subscription, the issued, subscribed, and paid-up equity share capital will increase to 14,79,46,162 fully paid-up equity shares post-issue. The securities premium account is expected to increase from ₹34,664.93 Lakhs before the issue to ₹50,445.85 Lakhs after the issue.

Complete Issue Schedule

The Letter of Offer sets out a comprehensive timeline for the rights issue process, with the issue opening on May 13, 2026, and closing on May 22, 2026. The board retains the right to extend the issue period by up to 30 days from the issue opening date.

Objects of the Issue and Fund Utilisation

The company proposes to utilise the net proceeds of ₹15,912.08 Lakhs (after estimated issue-related expenses of ₹82.10 Lakhs) towards working capital requirements and general corporate purposes. The intended deployment of net proceeds is as follows:

EFC (I) Limited currently holds an order book of ₹165.00 crores for its design and build business. Its subsidiary EFC Limited holds an order book of ₹197.10 crores, while EK Design Industries Limited holds an order book of ₹98.60 crores, all as of April 20, 2026.

Financial Summary

The following table presents key consolidated financial metrics derived from audited financial statements and unaudited consolidated financial results:

Issue Price Rationale and Regulatory Compliance

The Board of Directors determined the rights issue price of ₹150 per equity share at a discount to recent market prices. The issue price represents a discount of 23.37% and 23.19% to the closing market price on BSE and NSE respectively, one trading day prior to the announcement of the rights issue price (April 30, 2026). It also represents a discount of 25.92% and 25.90% to the 10 trading days' volume weighted average price on BSE and NSE respectively, and a discount of 35.41% and 34.69% to the 90 trading days' VWAP on BSE and NSE respectively, preceding the announcement. The company has confirmed that neither it nor its promoters — Mr. Umesh Kumar Sahay and Mr. Abhishek Narbaria — have been categorised as wilful defaulters or fraudulent borrowers by any bank or financial institution. The designated stock exchange for the issue is BSE Limited.

Source: None/Company/INE886D01026/9bbfc0af-8982-43d7-8b85-18a59bcd075f.pdf