Krishna capital & securities Limited has officially declared to BSE Limited that it does not fall under the Large Corporate Framework criteria for the financial year ended March 31, 2026. The declaration was submitted on April 07, 2026, in compliance with regulatory requirements under SEBI circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018.

Regulatory Compliance Declaration

The company's declaration was addressed to the Listing Department of BSE Limited, referencing script code 539384. The communication was signed by Company Secretary Shweta Saparia and Chief Financial Officer Raj Kishorkumar Gajjar, both providing digital signatures on April 07, 2026.

Financial Position and Large Corporate Criteria

As part of the initial disclosure requirements, Krishna Capital & Securities Limited provided detailed information confirming its non-applicability under the Large Corporate Framework:

Key Financial Highlights

The most significant aspect of the declaration is the company's outstanding borrowing position as of March 31, 2026, which stands at NIL. This zero borrowing status is a primary factor in the company's non-classification as a Large Corporate under the SEBI framework.

Regulatory Framework Context

The SEBI circular SEBI/HO/DDHS/CIR/P/2018/144 requires Large Entities to submit Initial Disclosure and comply with specific borrowing frameworks. Companies that do not meet the Large Corporate criteria must formally declare their non-applicability status to maintain regulatory compliance.

Corporate Governance

The declaration demonstrates Krishna Capital & Securities Limited's commitment to regulatory compliance and transparent corporate governance practices. The company has fulfilled its obligation to inform the stock exchange about its status under the Large Corporate Framework, ensuring proper regulatory adherence for the financial year 2026.

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.