HandsOn Global Management (HGM) Limited has formally effected the reclassification of 814,246 shares from the Promoter/Promoter Group category to the Public Shareholder category. The reclassification was confirmed by the Registrar and Share Transfer Agent on September 23, 2026.

This development follows shareholder approval secured at the company's 38th Annual General Meeting held on September 18, 2026. The move complies with Regulation 31A(3)(a)(vii) of the SEBI Listing Regulations, 2015, and will be reflected in subsequent shareholding pattern filings.

Reclassification Details

The specific entities whose holdings have been moved to the Public category are Stern Capital Partners LLC, Surinder Rametra, and Sun Investment Partners LLC. The total number of shares involved constitutes 6.46% of the company's total shareholding.

AGM Approval and Voting Results

Shareholders approved all four agenda items at the AGM, including the reclassification resolution. The meeting was conducted via Video Conferencing/Other Audio Visual Means (VC/OAVM), with e-voting available from September 14, 2026, to September 17, 2026. M/s Prajot Tungare & Associates served as the scrutinizer.

A total of 6,381,480 votes were polled out of 12,594,972 outstanding shares, representing a 50.67% turnout for primary resolutions. Promoter and Promoter Group shareholders held 6,349,829 shares, while Public-Non Institutions held 6,245,143 shares.

Key Resolutions Approved

Members approved the audited standalone and consolidated financial statements for FY26, along with the reports of the Board of Directors and Auditors. Statutory and Secretarial Auditors issued reports containing no qualifications or adverse remarks.

The meeting also saw the re-appointment of Mr. Sunil Vasant Rajadhyaksha as a Director retiring by rotation. Additionally, shareholders approved the re-appointment of Mr. Ajay Puri as an Independent Director for a second term of five years, effective from September 22, 2026, to September 21, 2031.

What the Numbers Show

The voting data reveals high engagement from promoter entities, which cast 5,577,437 votes (87.84% of their holdings) on the financial statements resolution. Public non-institutional shareholders participated at a lower rate, casting 804,043 votes (12.87% of their holdings). The near-unanimous approval across all resolutions indicates strong alignment between promoters and public shareholders on governance and financial matters.

HandsOn Global Management (HGM) Limited approved a subscription to 204,946 shares of common stock in XBP Global Holdings Inc for US$579,997 on September 17, 2026. The transaction secures a 1.45% stake in the NASDAQ-listed workflow automation firm.

The Board of Directors approved the investment following a recommendation from the Audit Committee. HGM will hold the shares through HCI LLC at a price of US$2.83 per share. The company classified the deal as a non-material related party transaction under Regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Strategic Rationale

The acquisition supports HGM’s management strategy to integrate AI-led automation into critical workflows. The move aims to meet growing demand for efficiency and explore new business avenues within the AI ecosystem. The filing states the investment has no impact on existing operations.

XBP Global operates as a workflow automation leader leveraging Agentic AI and global industry experience. It employs approximately 9,000 people across 20 countries and serves over 2,000 clients worldwide.

Transaction Details

The subscription was executed alongside other investors at market value. No prior regulatory approvals were required for the common stock subscription. The promoter of HGM holds an equity interest in XBP Global and serves on its board of directors, but the transaction was conducted on an arm’s length basis.

What the Numbers Show

XBP Global’s revenue trajectory highlights significant consolidation activity. Turnover surged from US$166.3 million in FY23 to US$867.1 million in FY24, driven by the July 2025 acquisition of Exela Technologies BPA, LLC. However, revenue contracted to US$788.0 million in FY25, indicating a normalization phase post-acquisition. Geographically, the USA remains the dominant market, contributing 87% of revenues for the three months ended June 30, 2026.