Panafic Industrials Limited has successfully concluded its board meeting held on March 31, 2026, approving restated financial statements for a proposed right issue. The meeting, which commenced at 3:00 PM and concluded at 5:30 PM, marked a significant milestone in the company's capital raising initiative.

Board Meeting Outcome

The board of directors convened at the company's registered office at 23, II Floor, North West Avenue, Club Road, West Punjabi Bagh, New Delhi - 110026, to deliberate on the restated financials. Managing Director Sarita Gupta led the proceedings, with the board formally approving the comprehensive financial documentation required for the right issue.

Financial Periods Approved

The board approved restated financial statements covering multiple reporting periods to support the proposed right issue. The comprehensive review encompasses both recent performance and historical data spanning several years.

The approved financial periods include:

• Nine months period ending December 31, 2025
• Year ended March 31, 2025
• Year ended March 31, 2024
• Year ended March 31, 2023
• Year ended March 31, 2022

Key Financial Highlights

According to the restated financial statements, the company demonstrated consistent operational performance across the reviewed periods. The financial data reveals the company's lending business focus, with loans forming the primary asset base.

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The restated financial information has been audited by Sudhir Agarwal & Associates, Chartered Accountants, ensuring adherence to Indian Accounting Standards and regulatory requirements.

The company operates as a non-banking financial institution, primarily engaged in lending to private industrial enterprises and dealing in securities. The restated financials will serve as foundational documents for the proposed right issue, providing investors with comprehensive financial transparency across multiple reporting periods.

The approved financial statements will be made available on the company's website at www.panaficindustrialsltd.in , ensuring stakeholder access to the detailed financial information supporting the upcoming right issue.

Panafic Industrials Limited has announced the acquisition of a substantial stake in Bazel International Limited through preferential allotment, as disclosed under SEBI regulations. The transaction represents a significant strategic investment executed through loan-to-equity conversion.

Acquisition Details

The company acquired 7,62,392 equity shares of Bazel International Limited on February 20, 2026, through preferential allotment pursuant to conversion of loan into equity. This acquisition represents 19.78% of the target company's total voting capital.

Shareholding Structure Changes

Prior to this acquisition, Panafic Industrials Limited held no shares in Bazel International Limited. The transaction significantly altered the target company's capital structure.

Regulatory Compliance

The disclosure was made under Regulation 29(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Panafic Industrials Limited confirmed that it does not belong to the promoter or promoter group of Bazel International Limited.

Additional Share Issuance

Alongside Panafic Industrials' acquisition, Bazel International Limited also issued 3,06,797 equity shares to Chaser Financial Services Private Limited. The combined allotments resulted in the total paid-up share capital reaching ₹3,85,52,220, comprising 38,55,222 equity shares.

Company Information

Bazel International Limited's shares are listed on BSE Limited. The disclosure was signed by Sarita Gupta, Managing Director of Panafic Industrials Limited (DIN: 00113099), and submitted to both BSE Limited and Bazel International Limited on February 24, 2026.