Melstar Information Technologies Limited will seek shareholder approval for up to ₹300 crore in convertible loans from promoters and directors at its 39th Annual General Meeting on September 30, 2026. The company is advancing its post-insolvency restructuring, having received in-principle listing approvals from the BSE and NSE for its restructured equity.

The meeting, held via video conferencing, aims to finalize funding mechanisms for business operations and capex. Shareholders will also vote on material related-party transactions totaling ₹300 crore between Melstar and its holding companies.

Capital Restructuring Progress

Melstar emerged from a Corporate Insolvency Resolution Process (CIRP) initiated by the NCLT in October 2019. Shivasons Solutions India Private Limited was approved as the Successful Resolution Applicant (SRA) through orders dated November 1, 2023, June 25, 2024, and August 9, 2024.

The Board approved the allotment of 26,42,000 equity shares of ₹10 each to Shivasons on February 26, 2025. In July 2026, the company secured in-principle listing approvals from both exchanges for 27,93,661 equity shares. This figure includes 1,51,661 shares resulting from capital reduction and the new allotment to the SRA. Trading permission will be sought after completing corporate actions with NSDL and CDSL.

Proposed Related-Party Transactions

The AGM agenda includes approving related-party transactions for FY27 under Section 188 of the Companies Act, 2013. The proposed limits are:

These transactions represent approximately 2000% of the listed entity's annual consolidated turnover for the preceding financial year, as the company has not yet commenced commercial activities.

Convertible Loan Facility

Shareholders will decide on accepting unsecured loans from promoters or directors, with an option to convert into equity shares. Key terms include:

• Aggregate Limit: Up to ₹300 crore over paid-up capital and free reserves.
• Conversion: Lenders may convert outstanding loans into fully paid-up equity shares at prices determined per SEBI regulations.
• Interest: Converted portions cease carrying interest from the conversion date.
• Listing: The company will ensure converted shares are listed on relevant stock exchanges at its own cost.

Director Reappointment

Mr. Tarun Kashyap retires by rotation and offers himself for reappointment. He serves as an Executive Director with expertise in operations and strategic planning. His proposed remuneration is ₹2 lakh per month, plus reimbursement of expenses. Kashyap attended five board meetings during FY26.

Melstar Information Technologies Limited will hold its Board of Directors meeting on Tuesday, September 8, 2026. The agenda includes approving unsecured loans from promoters and potential equity fundraising.

The company intends to raise funds through various permissible methods, including rights issues or qualified institutional placements. This follows regulatory approvals under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Key Agenda Items

The Board will consider the following matters:

• Raising an unsecured loan with an option to convert into equity from Promoters/Promoter Group and Directors.
• Issuing equity shares, warrants, or convertible securities via Rights Issue, Preferential Issue, or Qualified Institutional Placement.
• Approving the Board’s Report for Financial Year 2025-26 ended March 31, 2026.
• Fixing the cut-off date for remote e-voting and the annual book closure date for the 39th Annual General Meeting.
• Appointing M/s Pawan Jain & Associates as the Scrutinizer for the e-voting process under Section 108 read with Rule 20 of the Companies (Management and Administration) Amendment Rules, 2015.

Regulatory Compliance

The intimation was issued pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice was signed by Vineet Goverdhan Shah, Managing Director, on September 3, 2026.