Krsnaa Diagnostics Limited has received in-principle approval from BSE and the National Stock Exchange of India (NSE) for issuing 16,21,000 convertible warrants to its promoter group. The warrants are priced at ₹566 each on a preferential basis.

The approval, granted under Regulation 28(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, permits the conversion of these warrants into equity shares with a face value of ₹5 each. The company confirmed that the NSE letter is enclosed with the filing, while the BSE letter requires rectification of factual errors before being formally intimated.

Conditions for listing

The exchanges have stipulated several conditions that Krsnaa Diagnostics must fulfill before the final listing of the shares. These include filing the listing application promptly after allotment and securing all necessary statutory approvals from authorities such as SEBI, RBI, and the Ministry of Corporate Affairs.

Internal control mandates

NSE specifically advised the company to strengthen internal controls to monitor trades executed by the proposed allottees. This measure aims to prevent non-compliance with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations. Key directives include:

• Obtaining an undertaking from allottees confirming they will not engage in intra-day trading or sell shares until the allotment date.
• Verifying compliance with Regulation 167(6) of SEBI ICDR Regulations, 2018, which places the responsibility solely on the issuer.
• Noting that any observed non-compliance post-verification may impact the listing of such shares.

Regulatory context

The in-principle approval is subject to the company’s continued compliance with all applicable guidelines, regulations, and directions of the exchanges and statutory authorities as of the date of the listing application. The exchanges reserve the right to withdraw approval if submitted information is found to be incomplete, incorrect, or misleading.

Krsnaa Diagnostics Limited shareholders approved all five ordinary resolutions at the company's 16th Annual General Meeting (AGM), including the declaration of a final dividend of ₹2.00 per equity share for FY26.

The meeting, held on September 28, 2026, in Pune, saw the adoption of audited financial statements and the re-appointment of Managing Director Yash Mutha. The disclosure was filed with stock exchanges on September 30, 2026, pursuant to Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Voting results on key resolutions

The scrutinizer's report confirmed that all resolutions were passed with requisite majority. The final dividend resolution received overwhelming support, with 99.9997% of valid votes cast in favour. The appointment of M/s Kirtane & Pandit LLP as statutory auditors for a five-year term also passed, despite receiving 0.43% votes against from institutional and non-institutional public shareholders.

Auditor appointment details

Members appointed M/s Kirtane & Pandit LLP (Firm Registration No. 105215W/W100057) as Statutory Auditor for a first term of 5 consecutive years. The appointment holds office from the conclusion of the 16th AGM until the conclusion of the 21st AGM. The firm has more than 7 decades of experience in audit, Risk Management, and Tax, with service lines spanning IT, Business Process, and ESOP advisory sectors. It holds a valid peer review certificate as on the date of appointment.

Leadership and attendance details

The proceedings were chaired by Rajendra Mutha, Chairperson and Whole Time Director. Sujoy Sudipta Bose, Company Secretary and Compliance Officer, welcomed attendees. Seven directors were present in person, alongside Key Managerial Personnel (KMPs).

The following KMPs attended in person:

• Mitesh Dave: Group Chief Executive Officer
• Chandra Prakash Singh: Interim Chief Financial Officer
• Sujoy Bose: Company Secretary and Compliance Officer

Auditor and scrutinizer representation

Representatives from statutory, secretarial, and cost auditor firms oversaw procedural aspects. Dinesh Birla of M/s Dinesh Birla & Associates served as the Scrutinizer, submitting the consolidated report on September 30, 2026.

What the numbers show

Voting participation remained low relative to the total shareholder base. Out of 51,817 shareholders on record, only 36 attended or voted through proxies. Promoter group voting power stood at 8,795,605 shares, while public institutions polled 4,184,506 votes. The minimal dissent on the auditor appointment (60,783 votes against) suggests general alignment with management proposals, though institutional investors showed slightly higher scrutiny compared to retail non-institutional shareholders.