Modern Dairies Limited promoter group raised its stake in the company to 22.36% following the acquisition of 19,00,000 shares. The acquisition was executed on September 10, 2026, through the conversion of warrants allotted via preferential allotment. Each share was acquired at a price of ₹50, comprising a face value of ₹10 and a premium of ₹40.

The disclosure was made under Regulation 7(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, and Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The acquirers include Krishan Goyal HUF, Mr. Aditya Goyal, and Chandigarh Finance Private Limited.

Stake Acquisition Details

The promoter group increased its total shareholding from 52,35,764 shares (17.44%) to 71,35,764 shares (22.36%). No shares were encumbered or pledged post-acquisition.

Mr. Aditya Goyal accounted for the largest portion of the acquisition, adding 12,00,000 shares to his holding for a total consideration of ₹6 crore. Chandigarh Finance Private Limited remains the largest single entity within the promoter group with a post-acquisition stake of 8.68%.

Capital Structure Impact

The conversion of warrants into equity shares increased the company’s total voting capital. The equity share capital rose from ₹30,01,98,610 to ₹31,91,98,610. The total diluted share/voting capital stands at ₹31,91,98,610 after the transaction.

What the Numbers Show

The acquisition method—conversion of previously allotted warrants—indicates a pre-planned capital structure adjustment rather than an open-market accumulation. This mechanism allows the promoter group to increase its voting control without immediate cash outflow at the time of conversion, as the warrants were already allotted via preferential allotment. The total value of the transaction was ₹9.5 crore.

Modern Dairies Limited has scheduled its 34th Annual General Meeting for Saturday, September 26, 2026. The event will be conducted through Video Conferencing or Other Audio Visual Means at 11:00 am.

The company disclosed the notice pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Physical copies of the Annual Report for FY26 are not being dispatched to members in line with MCA Circular No. 09/2024 and SEBI Circular No. SEBI/HO/CFD/CFDPCD-2/P/CIR/2024/133. The firm also reminded shareholders to update their KYC details and dematerialise physical securities as per SEBI Master Circulars dated February 6, 2026 and May 7, 2024.

Key Dates and Procedures

Shareholders can access the Notice and full Annual Report on the company’s website and the NSDL e-voting portal. The register of members will remain closed from September 20 to September 26, 2026.

E-voting Details

Remote e-voting is facilitated by National Securities Depository Limited. Shareholders holding shares as on the cut-off date of September 19, 2026, may cast their votes electronically. Voting rights are proportional to equity shares held on the cut-off date.

Members who vote remotely may still participate in the AGM but cannot vote again. Login credentials for new shareholders can be obtained via email to evoting@nsdl.co.in .

Compliance Reminder

The company urged shareholders holding physical securities to update their PAN, address, mobile number, bank account details, specimen signature, and nomination choice. Investors are advised to register their email addresses with the company or their Depository Participants to receive future communications electronically.