Keerthi Industries Limited has notified BSE Limited regarding the issuance of a Letter of Confirmation for duplicate share certificate under Regulation 39 of the SEBI (Listing Obligations & Disclosures Requirements) Regulations, 2015. The communication was made on March 31, 2026, as part of the company's compliance obligations.

Regulatory Compliance Details

The Letter of Confirmation was issued in accordance with SEBI Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/8 dated January 25, 2022. The company's Registrar and Transfer Agent, XL Softech System Limited, processed the duplicate share certificate request on behalf of Keerthi Industries Limited.

Shareholder Information

The duplicate share certificate confirmation was issued to the following shareholder:

Company Background

Keerthi Industries Limited, formerly known as Suvarna Cements Limited, is registered with CIN L11100TG1982PLC003492. The company's registered and administrative office is located at Plot No. 40, IDA, Balanagar, Hyderabad - 500 037.

Compliance Officer Details

The intimation was signed by Anupama Iyer, Company Secretary & Compliance Officer, who digitally signed the document on March 31, 2026. This notification ensures transparency and adherence to SEBI's regulatory framework for share certificate management and investor protection.

Keerthi Industries Limited (Formerly Suvarna Cements Limited) has formally completed the addendum to its Business Transfer Agreement for the slump sale of its Electronics Division to Keerthi Holdings Private Limited. The company filed comprehensive regulatory disclosures under SEBI Listing Regulations, confirming the transaction's effective date as March 31, 2026, with consideration of INR 36.00 crores already received on December 1, 2025.

Transaction Structure and Financial Details

The Electronics Division sale represents a significant strategic move for Keerthi Industries, involving the transfer of a business segment that contributed substantially to the company's revenue. The transaction follows a comprehensive approval process spanning multiple regulatory milestones.

Electronics Division Performance Metrics

The Electronics Division's financial contribution highlights its significance within Keerthi Industries' overall business portfolio. The division generated substantial revenue during the last financial year, representing nearly one-fifth of the company's total income.

Strategic Debt Reduction Initiative

The slump sale proceeds will primarily fund debt repayment, addressing Keerthi Industries' significant borrowing obligations. The company carries substantial term loans, cash credit facilities, and unsecured loans that impact its financial performance through high interest costs.

Regulatory Compliance and Related Party Considerations

The transaction constitutes a related party transaction under Section 2(76)(iv) of the Companies Act, 2013, as both entities have joint control. However, the sale is being conducted on an arm's length basis, supported by an Independent Valuation Report dated May 29, 2025. The company has ensured full compliance with SEBI Listing Regulations and applicable disclosure requirements.

Corporate Governance Timeline

The Business Transfer Agreement followed a systematic approval process, demonstrating robust corporate governance practices and stakeholder consultation throughout the transaction lifecycle.

The transaction will not result in any changes to the company's shareholding pattern, maintaining existing ownership structure while strengthening the balance sheet through strategic asset monetization and debt reduction.