KRANTI INDUSTRIES LIMITED has informed BSE Limited about the forfeiture of upfront amount received against unconverted warrants following the non-exercise of conversion option by one of its warrant holders. The intimation was submitted under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company had previously allotted 16,00,000 fully convertible warrants on a preferential basis to non-promoter allottees at an issue price of ₹80 per warrant on October 23, 2024. The warrants were allotted upon receipt of 25% of the issue price, amounting to ₹20 per warrant, with the balance 75% (₹60 per warrant) payable within 18 months from the date of allotment.

Evolution Capital Advisory Services Private Limited was allotted 15,00,000 convertible warrants. The warrant holder exercised the conversion option for 12,50,000 warrants, converting them into equity shares upon payment of the balance consideration within the stipulated 18-month period. However, the remaining 2,50,000 warrants were not converted on or before the deadline of April 22, 2026.

Consequently, the upfront amount received by the company in respect of the unconverted warrants stands forfeited in terms of Regulation 169(3) of Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, subject to approval of the Board of Directors at its ensuing meeting.

The company has confirmed that there is no change in its capital structure due to the lapsing or cancellation of these warrants. Sampada Shekhar Barsawade, Company Secretary and Compliance Officer of KRANTI INDUSTRIES LIMITED, signed the intimation on April 23, 2026.

Kranti Industries Limited has announced the re-appointment of Mr. Satchidanand Arun Ranade as Independent Director for a second consecutive five-year term. The appointment, which became effective on April 06, 2026, demonstrates the company's commitment to maintaining strong corporate governance standards.

Re-appointment Details

The re-appointment was formally approved by shareholders at the company's 30th Annual General Meeting held on September 12, 2025. The decision was communicated to BSE Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Director Profile and Qualifications

Mr. Satchidanand Arun Ranade brings substantial expertise to the board with his comprehensive background in finance and governance. He is a qualified Chartered Accountant holding a Commerce degree from Pune University, with over 29 years of extensive experience in finance, accounting, and taxation.

His professional credentials have been continually enhanced through specialized certifications in several key areas:

• Arbitration
• Concurrent Audit of Banks
• Corporate Social Responsibility (CSR)
• Anti-Money Laundering Laws

Governance Experience

Mr. Ranade's governance expertise is demonstrated through his previous role as an Independent Director on the Board of Pune Stock Exchange Ltd., where he served for a three-year term. This experience showcases his ability to provide independent, objective judgment in board deliberations.

Currently, he serves as a Panel Arbitrator at the NSE Pune Bench, continuing to play a key role in ensuring fairness and compliance within the financial ecosystem. These credentials collectively affirm that he possesses the skills, integrity, and independence required for the directorial role.

Regulatory Compliance

The company has confirmed that Mr. Ranade is not debarred from holding the office of director by virtue of any SEBI order or any other authority, ensuring full compliance with regulatory requirements. The re-appointment follows all necessary disclosure requirements under SEBI Listing Regulations and the SEBI Master Circular dated January 30, 2026.

The formal communication was signed by Sampada Shekhar Barsawade, Company Secretary and Compliance Officer, on April 06, 2026, marking the official commencement of Mr. Ranade's second term as Independent Director.