Krishna Capital and Securities Limited has published its Detailed Public Statement (DPS) following the open offer announcement by Ashu Bishnoi and Yagnik Tank to acquire equity shares under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations. The comprehensive DPS provides detailed information about the acquirers, transaction structure, and regulatory compliance requirements for the proposed acquisition.

Open Offer Structure and Timeline

The acquirers are offering to purchase 18,04,508 fully paid-up equity shares at ₹20.00 per share, representing 5.44% of the emerging voting share capital. The total offer consideration amounts to ₹3,60,90,160. This offer is being made pursuant to Regulations 3(1) and 4 of the SEBI (SAST) Regulations, 2011.

Publication and Regulatory Compliance

The Detailed Public Statement was published on April 06, 2026, in three newspapers as required by SEBI regulations:

• Financial Express (National English Daily – All Editions)
• Jansatta (National Hindi Daily – All Editions)
• Mumbai Lakshadeep (Regional Marathi Daily – Mumbai Edition)

The DPS is also available on the company's website at http://www.kcs1.co.in/Others.aspx . The publication fulfills the regulatory requirement under Regulation 14(4) of the SEBI (SAST) Regulations, 2011.

Acquirer Profiles and Financial Capability

Ashu Bishnoi brings over 25 years of experience in financial services, including wealth management, mutual funds, and equity distribution. He holds DIN 08989843 and serves as director in AASAAN Capital Private Limited. His net worth as of February 28, 2026, stands at ₹2,480.78 lakhs.

Yagnik Tank has over 20 years of experience in investment management and financial strategy, including managing AIF Category III funds. He holds DIN 10835016 and serves as designated partner in INFINITYX Investment Managers LLP. His net worth as of February 19, 2026, is ₹9,590.51 lakhs.

Transaction Components and Shareholding Impact

The acquisition involves multiple components:

• Share Purchase Agreement: Signed on March 26, 2026, to acquire 13,53,892 equity shares (4.08% of emerging voting capital) from existing promoters at ₹20.00 per share
• Preferential Issue: Board-approved allotment of 3,00,00,000 equity shares (90.47% of emerging voting capital) to acquirers and non-promoter public shareholders
• Open Offer: Mandatory offer for 18,04,508 shares from public shareholders

Upon completion of all transactions, assuming full acceptance, the acquirers will hold 2,66,58,400 equity shares, representing 80.40% of the emerging voting share capital. The existing promoter group, comprising 20 entities from the Agrawal family, will cease to be promoters and relinquish management control.

Financial Arrangements and Escrow

The acquirers have deposited ₹91,00,000 in an escrow account with ICICI Bank Limited, representing more than 25% of the offer consideration as required under SEBI regulations. The escrow account (Account No: 004005160602) ensures adequate financial backing for the transaction.

Regulatory Approvals and Next Steps

The transaction is subject to several regulatory approvals, including Reserve Bank of India approval for transfer of control of the NBFC and in-principle approval from the stock exchange. The offer will be implemented through BSE Limited's stock exchange mechanism using an acquisition window.

Key upcoming dates include filing of Draft Letter of Offer with SEBI on April 13, 2026, and the last date for competing offers on April 28, 2026. Public shareholders can tender their shares through their respective brokers during the 10-day tendering period from May 22 to June 04, 2026, with payment to shareholders scheduled for June 18, 2026.

The transaction is being managed by Grow House Wealth Management Private Limited as the offer manager, with Indo Thai Securities Limited serving as the buying broker.

Krishna Capital & Securities Limited has published newspaper advertisements in Lok Mitra (Vernacular Language) and Free Press (English daily) on April 02, 2026, formally announcing its Extra Ordinary General Meeting (EGM) scheduled for Saturday, April 25, 2026 at 11:30 AM through Video Conferencing/Other Audio Visual Means (VC/OAVM) facility.

EGM Publication and Regulatory Compliance

The company submitted formal intimation to BSE Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, confirming the newspaper publication of EGM notice and remote e-voting information. Managing Director Ashokkumar Agrawal (DIN 00944735) digitally signed the BSE intimation on April 02, 2026.

Authorized Share Capital Enhancement

The EGM will consider substantially increasing the company's authorized share capital structure:

This represents an expansion from Four Crores to Thirty-Four Crores, increasing total authorized equity shares from Forty Lakhs to Three Crores Forty Lakhs.

Preferential Share Allotment Details

The meeting will address the preferential allotment of 3,00,00,000 equity shares to five investors:

The relevant date for determining minimum issue price is Wednesday, March 25, 2026, being 30 days prior to the EGM date.

Executive Leadership Addition

The meeting will regularize the appointment of Mr. Vinodkumar Bhanwer Singh (DIN: 10454743) as Executive Director, effective from March 26, 2026:

Enhanced Borrowing Authorization

The company seeks approval for borrowing powers up to Rs. 500 Crores under Section 180(1)(C) of the Companies Act, 2013, enabling borrowing from banks, financial institutions, and other entities subject to applicable regulations.

E-Voting and Meeting Participation

Shareholders can participate through video conferencing with detailed login procedures provided for CDSL and NSDL demat account holders. Central Depository Services (India) Limited will handle e-voting services, with MCS Share Transfer Agent Limited serving as the registrar and transfer agent. Mr. Bipin L. Makwana has been appointed as Scrutinizer for the meeting proceedings.

The EGM notice and related documents are available on the company's website ( www.kscl.co.in ), CDSL's e-voting platform ( www.evotingindia.com ), and BSE's website ( www.bseindia.com ) for shareholder reference and compliance with regulatory transparency requirements.