iStreet Network Limited has announced the resignation of Mr. Bhargeshwar Banerji as Independent Director, effective March 07, 2026. The company disclosed this information through regulatory filings under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Details

The resignation was formally communicated to BSE Limited on April 09, 2026, with comprehensive details provided in accordance with SEBI requirements. The company filed additional information pursuant to SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Regulatory Compliance

The disclosure was made by Company Secretary and Compliance Officer Pratibha Ranka, ensuring full compliance with SEBI listing regulations. The filing included all mandatory details required under Regulation 30 of the SEBI Listing Regulations.

Confirmation of Resignation

Mr. Banerji provided written confirmation of his resignation through email communication dated March 28, 2026. In his confirmation, he stated that there are no other material reasons for his resignation beyond the personal commitments already disclosed to the company.

Corporate Governance Impact

The resignation affects the composition of iStreet Network Limited's board of directors. According to the regulatory filing, Mr. Banerji does not hold directorships in any other listed entities, indicating a clean exit from his board responsibilities.

iStreet Network Limited has successfully completed the conversion of 11,16,667 warrants into equity shares through a board resolution passed on March 27, 2026. The conversion represents a significant capital raising exercise for the company, generating proceeds of ₹50,24,999 through the preferential allotment process.

Warrant Conversion Details

The board approved the conversion of warrants into equity shares with a face value of ₹4.00 each. The warrant holders exercised their conversion rights at ₹4.50 per warrant, which constitutes 75% of the original warrant issue price of ₹6.00 per warrant. This conversion mechanism was structured in accordance with SEBI ICDR Regulations, 2018.

Allottee Distribution

The warrant conversion involved four individual investors, all categorized under the public category. The distribution shows a concentrated allocation among the warrant holders:

Vipin Mishra and Deldan Otsal emerged as the largest beneficiaries, each converting 4,16,667 warrants, while Viral S. Acharya had the smallest conversion of 33,333 warrants.

Impact on Share Capital

The warrant conversion has resulted in a substantial increase in the company's paid-up equity share capital. The capital structure transformation reflects the successful completion of the warrant exercise process:

Regulatory Compliance and Share Rights

The allotment was executed under Regulation 30 of SEBI Listing Regulations, ensuring full regulatory compliance. The newly allotted equity shares carry identical rights as existing shares, including dividend entitlements and voting rights. The warrants were originally allotted on November 28, 2025, with holders initially paying 25% of the issue price (₹1.50 per warrant) and now completing the remaining 75% payment for conversion.

The conversion process demonstrates the company's ability to successfully execute its capital raising strategy through the warrant mechanism, providing existing warrant holders with the opportunity to participate in the company's equity growth while strengthening the overall capital base.