Mini Diamonds has accepted the resignation of Archana Rajesh Agarwal from her roles as Company Secretary and Compliance Officer, effective August 03, 2026. The Mumbai-based diamond manufacturer disclosed the departure to the Bombay Stock Exchange on August 03, 2026, citing personal reasons for the exit. As a Key Managerial Personnel, Agarwal’s departure requires immediate regulatory disclosure under SEBI guidelines.

The company notified the exchange pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing references Part A of Schedule III to the Listing Regulations and SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/1/3762/2026, updated on January 30, 2026. The intimation was signed by Upendra Narottamdas Shah, Managing Director of Mini Diamonds (India) Limited.

Agarwal tendered her resignation via letter dated August 03, 2026, addressed to the Board of Directors. She will be relieved from her services with effect from the close of business hours on August 03, 2026. In her resignation letter, Agarwal thanked the Board of Directors and the Chief Financial Officer for their support during her tenure.

The following table outlines the key details of the resignation as disclosed in the regulatory filing:

Mini Diamonds (India) Limited operates out of Bharat Diamond Bourse in Bandra Kurla Complex, Mumbai. The company is listed on the BSE under Scrip Code 523373. The Board of Directors is expected to initiate the process to appoint a successor to ensure continued compliance with corporate governance norms.

Mini Diamonds (India) Limited issued a corrigendum to its Extra-Ordinary General Meeting (EGM) notice on July 23, 2026, to align the explanatory statement for Item No. 1 with suggestions received from BSE Limited. The amendment clarifies the utilization of proceeds from the proposed preferential issuance of convertible warrants to persons belonging to the Promoter and Promoter Group, ensuring transparency for shareholders voting in the meeting scheduled for August 7, 2026.

The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company had previously submitted an application to BSE Limited seeking in-principle approval for the preferential issue under Regulation 28(1) of the SEBI Listing Regulations. The corrigendum replaces specific points in the original EGM notice dated July 9, 2026, specifically Point No. 1(a) and the paragraph titled "Utilization of proceeds of the Preferential Issue."

Proceeds Allocation for Lab-Grown Diamonds

The company stated that it intends to utilize the net proceeds from the Preferential Issue, aggregating to at least ₹8,88,00,000, towards the procurement of lab-grown diamonds. The funds are allocated equally between rough and polished inventory, as detailed below:

Timeline and Conversion Assumptions

The management estimates that the entire proceeds received from the issue will be utilized within three months from the date of receipt of funds. This timeline assumes 100% conversion of the warrants into equity shares within the stipulated time. The company noted that issue proceeds shall be received within an 18-month period from the date of allotment of warrants, in compliance with Chapter V of the SEBI ICDR Regulations. Utilization will occur in phases based on business requirements and fund availability.

What the Numbers Show

The equal split of capital between rough and polished lab-grown diamonds suggests a balanced approach to inventory management, potentially aiming to capture value addition at both upstream and downstream stages of the supply chain. By restricting the preferential issue to the Promoter Group, the company signals strong internal confidence in the strategic expansion into lab-grown diamonds, while the explicit linkage of fund utilization to warrant conversion highlights a structured capital deployment strategy contingent on shareholder participation.

The EGM is scheduled to be held on Friday, August 7, 2026, at 09:30 a.m. (IST) at the company's registered office in Mumbai. Members are requested to read the corrigendum in conjunction with the original EGM notice before casting their votes.