KS Smart Technologies Limited has announced the adoption of a new set of Articles of Association, marking a significant corporate governance update for the company formerly known as Soma Papers & Industries Limited. The shareholders approved this change through postal ballot, with the new provisions becoming effective from April 03, 2026.

Regulatory Compliance and Communication

The company communicated this development to BSE Limited on April 06, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification was signed by Company Secretary & Compliance Officer Priyanka Malpani and addressed to the exchange management.

Rationale for Articles Amendment

The company provided detailed justification for adopting the new Articles of Association. The existing AoA were originally based on provisions of the Companies Act, 1956, which had become outdated in the current regulatory and business environment. Upon review, management identified that several provisions were no longer aligned with contemporary requirements.

The new Articles of Association are comprehensively based on Table F under the Companies Act, 2013, and will substitute and exclude the existing AoA entirely. This update aims to reflect prevailing statutory provisions and address current business needs more effectively.

Document Availability and Access

KS Smart Technologies Limited has made the amended Articles of Association available for stakeholder inspection through multiple channels:

• Physical inspection at the company's registered office
• Digital access through the company website at https://ksstech.co/

The company has ensured transparency by providing easy access to these important governance documents for shareholders and other interested parties.

Corporate Governance Enhancement

This adoption of new Articles of Association represents a proactive approach to corporate governance modernization. By aligning with the Companies Act, 2013 framework, KS Smart Technologies Limited demonstrates its commitment to maintaining current regulatory compliance and operational efficiency in its corporate structure.

VIKASA India EIF I Fund has made a substantial acquisition disclosure regarding its investment in KS Smart Technologies Limited, formerly known as Soma Papers and Industries Limited, under SEBI Regulation 29 of the Substantial Acquisition of Shares and Takeovers Regulations, 2011.

Acquisition Details

The fund acquired 1,40,00,000 shares through conversion of warrants, representing 8.53% of both the total share capital and voting rights of the target company. The acquisition was completed through conversion of warrants that were previously allotted on preferential basis.

Pre and Post Acquisition Holdings

Prior to this acquisition, VIKASA India EIF I Fund held 1,40,00,000 warrants representing 8.53% of the diluted share capital but had no direct shareholding in KS Smart Technologies. The fund does not belong to the promoter or promoter group of the target company.

Impact on Share Capital

The warrant conversion significantly impacted KS Smart Technologies' equity structure. The company's share capital expanded substantially following the conversion process.

Securities Features

The converted warrants carried specific terms and conditions. The warrants were converted at a 1:1 ratio, meaning each warrant was exchanged for one equity share. The newly issued equity shares rank pari-passu with the existing shares of KS Smart Technologies, providing equal rights and privileges to the fund.

Regulatory Compliance

The disclosure was filed in compliance with SEBI regulations governing substantial acquisitions. KS Smart Technologies Limited is listed on BSE Limited, and the acquisition was formally documented on April 2, 2026, from Port Louis, Mauritius, where VIKASA India EIF I Fund is based.