Krsnaa Diagnostics issued a corrigendum to its postal ballot notice on August 28, 2026, following requests from the National Stock Exchange of India Limited for additional clarity. The company is seeking shareholder approval for a preferential issue of share warrants.

The original notice was dispatched on August 18, 2026, in compliance with the Companies Act, 2013, and SEBI regulations. The NSE directed the amendment via letters dated August 24, 2026, requiring specific disclosures regarding the proposed transaction.

Shareholding Changes

The corrigendum details the impact of the preferential issue on the promoter group's stake. The promoters intend to subscribe to 16,21,000 equity shares post-conversion of warrants. This acquisition will increase their aggregate holding from 27.11% to 29.70% on a fully diluted basis.

The increase falls within the limits permitted under Regulation 3(2) of the SEBI SAST Regulations for creeping acquisitions. Consequently, no open offer obligation is triggered under Regulation 10.

Allottee Details

Two entities within the promoter group have confirmed their intention to subscribe:

• Mr. Rajendra Khivraj Mutha: 75,000 warrants
• Krsna Diagnostics (Mumbai) Private Limited: 15,46,000 warrants

No other directors, key managerial personnel, or senior management members intend to participate in the issue. The transaction will not result in any change in control or composition of the Board of Directors.

Voting Process

Remote e-voting commenced on August 19, 2026, and concludes on September 17, 2026, at 5:00 pm. Shareholders who voted prior to receiving this corrigendum may modify their votes by emailing the scrutinizer at csdineshbirla@gmail.com with a copy to cs@krsnaa.in before the deadline.

What the Numbers Show

The preferential issue is entirely internal, with all new capital coming from existing promoter entities. Mr. Rajendra Mutha’s direct holding decreases slightly from 24.75% to 23.11%, while his indirect holding through Krsna Diagnostics (Mumbai) Private Limited rises significantly from 2.36% to 6.59%. This shift consolidates promoter control without diluting public or institutional investors, whose stakes remain unchanged in absolute numbers but decrease proportionally due to the expanded share base.

Krsnaa Diagnostics Limited received an income tax rectification order dated August 14, 2026, increasing its tax demand for Assessment Year 2022-23 by ₹12.10 crore. The Assistant Commissioner of Income Tax, Central Circle 2(1), Pune, issued the order under Section 154 read with Section 143(3) of the Income Tax Act, 1961.

The rectification applies the 60% tax rate plus a 25% surcharge under Section 115BBE to additions made in the original assessment order dated March 31, 2024. This adjustment raises the total balance payable to ₹31.73 crore, up from the previously disclosed amount of ₹19.63 crore.

Regulatory Context

The company had earlier informed exchanges about the original assessment order via intimation letter KDL/SE/007/2026-27 dated May 20, 2026. An appeal against that original order is already pending before the appropriate appellate authority.

The current rectification specifically addresses the tax computation methodology rather than altering the assessed income figure, which remains unchanged at ₹98.27 crore. The additions triggering the higher tax rate were made under Sections 69A and 69C of the Income Tax Act.

What the Numbers Show

The differential demand of ₹12.10 crore represents a 61.6% increase over the previous payable amount of ₹19.63 crore. This sharp rise stems entirely from the change in applicable tax rate from standard corporate rates to the punitive 60% rate under Section 115BBE, which applies when undisclosed income is added to total income. The underlying assessed income base of ₹98.27 crore remained constant, indicating the dispute centers on tax classification rather than revenue recognition.

Next Steps

Krsnaa Diagnostics stated it is filing an appeal or rectification against this differential demand before the relevant appellate authority. The company will continue to update exchanges on material developments regarding these proceedings.