Izmo Ltd promoter group member Tej Soni has acquired 14,96,257 equity shares, constituting 9.99% of the company's paid-up capital, through an off-market inter-se transfer.

The acquisition was executed as a gift from two existing promoters, Mrs. Shashi Soni and Mrs. Kiran Soni, without any financial consideration. The transaction took place on September 28, 2026, and was disclosed to the stock exchanges under Regulation 10(6) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Transaction details

Tej Soni, identified as an immediate relative of the promoter, received the shares in two tranches. The breakdown of the acquisition is as follows:

The rationale for the transfer is cited as an inter-se movement within the promoter group, leveraging the exemption provided under Regulation 10(1)(a)(i) of the SEBI (SAST) Regulations for gifts between immediate relatives.

Shareholding pattern changes

Prior to this transaction, Tej Soni held no shares in the company. The sellers' holdings were adjusted as follows:

The disclosure confirms that the requisite prior intimation under Regulation 10(5) was filed with the stock exchanges on September 11, 2026, meeting the regulatory timeline requirements.

Izmo Limited concluded its 31st Annual General Meeting on September 25, 2026, with all four proposed resolutions passing with requisite majority. Key approvals included the adoption of financial statements for the fiscal year ended March 31, 2026, and a proposal for voluntary delisting from the Calcutta Stock Exchange.

The meeting was conducted through Video Conferencing and Other Audio-Visual Means in compliance with Ministry of Corporate Affairs and Securities and Exchange Board of India circulars. A total of 69 members attended the session, which commenced at 12:30 pm and concluded at 1:12 pm. The quorum requirements were satisfied, and all directors, including the Chairperson Mrs. Shashi Soni and Managing Director Mr. Sanjay Soni, were present.

Voting results and scrutiny details

The scrutinizer, CS Syed Shahabuddin, confirmed that all ordinary and special business items were approved. Notably, for resolutions where promoters had a direct interest (re-appointment of directors), their votes were treated as invalid to ensure the outcome reflected the will of the public shareholders.

Note: For director re-appointments, promoter votes totaling 52,01,244 shares were excluded as invalid due to conflict of interest.

Governance and compliance updates

Mr. Varun Kumar A S, Company Secretary and Compliance Officer, confirmed that the statutory auditor, Mr. R Vijayanand, and the secretarial auditor, Mr. Syed Shahabuddin, submitted unqualified reports for the period ending March 31, 2026. The absence of adverse remarks in these reports indicates clean regulatory compliance regarding accounting standards and corporate governance norms for the fiscal year.

Voting rights were determined based on shareholding as of the cutoff date, September 18, 2026. The e-voting process, facilitated by Central Depository Services Limited, allowed members to cast votes remotely between September 22 and September 24, 2026, followed by electronic voting during the AGM itself. CS Syed Shahabuddin served as the scrutinizer to ensure transparency in the voting process.

Strategic outlook

Managing Director Sanjay Soni provided an overview of the company's operational performance and future prospects for FY26. While specific financial metrics such as revenue or profit figures were not detailed in the AGM proceedings summary, the management highlighted the strategic direction under the leadership of the re-appointed board members. The decision to voluntarily delist from the Calcutta Stock Exchange suggests a consolidation of listing venues, likely aiming to streamline compliance costs and administrative overhead associated with maintaining listings on multiple exchanges.