Neetu Yoshi Limited has secured a purchase order worth INR 14.76 Crores (excluding GST) from an India-based wagon manufacturer for the manufacturing and supply of Cast Steel Blocks. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III and the SEBI Circular dated 13th July, 2023, and was filed with BSE Limited (SME Platform) on 05.05.2025.

Order Details

The order involves the supply of Cast Steel Blocks (Grade 101) with and without austempering, as per agreed specifications. The contract is entirely domestic in nature, with the awarding entity being an India-based wagon manufacturer. The following table summarises the key parameters of the order as disclosed in Annexure A:

Compliance and Governance

The company confirmed that the order does not fall under related party transactions and that no promoter, promoter group, or group companies have any interest in the contract. The disclosure was signed by Himanshu Lohia, Director (DIN: 08564450), on behalf of Neetu Yoshi Limited (formerly Neetu Yoshi Private Limited), and submitted in compliance with applicable SEBI listing regulations.

Neetu Yoshi Limited holds multiple quality and safety certifications, including ISO 9001:2015, OHSAS 45001, and ISO 14001 for Environmental Management Systems. The company is also recognised as an Indian Railways RDSO Class 'A' Approved manufacturer, underscoring its credentials in the railway components supply chain.

Neetu Yoshi Ltd has announced an Extra-Ordinary General Meeting (EGM) to seek shareholder approval for issuing convertible warrants on a preferential basis. The company, formerly known as Neetu Yoshi Private Limited, will conduct the meeting through video conferencing on 25 May 2026 at 3:00 PM.

Meeting Details and E-Voting Schedule

The EGM notice, dated 02 May 2026, outlines the company's proposal to issue convertible warrants to both promoters and non-promoter entities. Shareholders holding shares in physical or demat mode as on the cut-off date of 18 May 2026 will be eligible to participate in the electronic voting process.

Convertible Warrants Issue Structure

The company proposes to issue 26,42,400 convertible warrants at Rs. 104/- per warrant, with each warrant convertible into one equity share of face value Rs. 5.00/-. The warrants will have a conversion period of 18 months from the date of allotment.

Allotment Distribution

The warrant allocation includes both promoter and non-promoter categories, with the largest single allocation going to promoter Subodh Lohia. The distribution spans across 33 proposed allottees, including institutional investors, individual investors, and corporate entities.

Major Allocations:

Venturex Fund I is identified as an Alternative Investment Fund (AIF) with Mitcon Credentia Trusteeship Services Ltd as trustee. Swastika Investmart Limited is a listed public company on BSE Limited.

Pricing and Regulatory Compliance

The warrant pricing follows SEBI (ICDR) Regulations with the relevant date set as 24 April 2026. The issue price of Rs. 104/- per warrant exceeds the minimum price requirement calculated under regulatory guidelines.

Shareholding Impact

Post-conversion of all warrants, the company's total share capital will increase from 38,812,600 shares to 41,455,000 shares. The promoter shareholding will decrease from 70.03% to 67.01%, while public shareholding will increase from 29.97% to 32.99%.

Use of Proceeds and Timeline

The company intends to utilize the proceeds from the preferential issue to augment working capital requirements. The warrants must be allotted within 15 days of shareholder approval, and the converted equity shares will be subject to lock-in provisions as per SEBI regulations.

Mr. Ravi Shankar & Associates, Company Secretaries, has been appointed as the scrutinizer for the e-voting process. The company has obtained necessary certificates from statutory auditors and a registered valuer to ensure compliance with regulatory requirements.