Purple Wave Infocom has disclosed an update regarding the utilization of its IPO proceeds earmarked for funding capital expenditure requirements towards purchasing an office space cum product display area. The company filed the disclosure pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, on May 14, 2026.

Original Property Acquisition Falls Through

The company had originally proposed to utilize a portion of its IPO proceeds to purchase an office space cum product display area at 3rd Floor, MNG Tower, Plot No. 1 & 2, Pocket A-2, Sector – 17, Dwarka, New Delhi, Delhi, 110078, as disclosed in its Prospectus filed in connection with the Initial Public Offer. However, subsequent to the IPO, the owner of the said property communicated their inability to proceed with the proposed sale transaction. Due to circumstances beyond the control of the company, the proposed acquisition could not be completed.

Board Authorizes Alternate Property Search

In response to this development, the Board of Directors, at its meeting held on December 24, 2025, took note of the situation and, in the interest of implementing the stated IPO object within reasonable timelines, authorized Mr. Manoj Kumar Singh to identify and finalize an alternate suitable property. The outcome of the Board Meeting was duly intimated to the Exchange in compliance with applicable SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Alternate Property Acquired in Gurugram

Following the Board's authorization, the company acquired an alternate property, the details of which are outlined below:

The purchase of the alternate property was duly intimated to the Stock Exchange. The company has clarified that the object and intended utilization of funds remain unchanged.

Key Clarifications by the Company

Purple Wave Infocom provided the following clarifications regarding the utilization of IPO proceeds:

• There has been no change in the overall object of utilization of IPO proceeds.
• The funds have continued to be utilized for the same identified purpose, namely purchasing an office space cum product display area.
• There has been no material deviation in the intended utilization amount allocated for the said object.
• The relevant developments were duly intimated to the Exchange from time to time.

The company stated that it remains committed to maintaining high standards of corporate governance, transparency, and compliance with applicable regulatory requirements. The disclosure was signed by Shivani Gupta, Company Secretary and Compliance Officer (Mem No. 56157).

Purple Wave Infocom Limited convened its 1st Extraordinary General Meeting (EGM) for FY 2026-27 on Saturday, May 9, 2026, at 2:00 PM IST. The meeting was conducted through Video Conferencing (VC) and Other Audio-Visual Means (OAVM), in accordance with circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India. The proceedings and voting results were disclosed to BSE Limited under Regulation 30 and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Both special resolutions placed before members — pertaining to the Employee Stock Option Plan 2026 — were approved with requisite majority, with 100% of votes polled cast in favour.

Meeting Overview

The EGM commenced at 2:00 PM and concluded at 2:51 PM, inclusive of the time allotted for e-voting at the meeting venue. Ms. Shivani Gupta, Company Secretary, welcomed members and briefed them on the technical aspects of the e-voting process. Mr. Manoj Kumar Singh, Chairman and Managing Director, served as the Chairperson of the meeting and delivered the formal address before handing proceedings over to the Company Secretary.

Key details of the meeting are summarised below:

E-Voting Facility

In compliance with the provisions of the Companies Act, 2013, and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company provided a remote e-voting facility to its members through the CDSL platform at www.evotingindia.com . Remote e-voting commenced on Wednesday, May 6, 2026, at 9:00 AM and closed on Friday, May 8, 2026, at 5:00 PM. An additional e-voting window was made available during the EGM for members who had not cast their votes prior to the meeting. The cut-off date for determining eligible members was May 2, 2026, and the EGM notice was sent electronically to all members whose names appeared in the register as on April 15, 2026.

Ms. Soniya Gupta, Proprietor of M/s Soniya Gupta & Associates, Practicing Company Secretaries (Membership No. F-7493, CP No. 8136), was appointed as the Scrutinizer to oversee the e-voting process in a fair and transparent manner. The Scrutinizer submitted her report on May 9, 2026. The voting results have been disseminated to the stock exchanges and are also available on the Company's website at https://www.purplewave.in/ and on the CDSL website.

Resolutions Considered

The following special resolutions, as set out in the EGM notice dated March 26, 2026, were placed before members for consideration and approval:

• Resolution 1 (Special Resolution): Approval of the Purple Wave Infocom Limited Employee Stock Option Plan, 2026 (PWIL ESOP 2026).
• Resolution 2 (Special Resolution): Approval for the extension of benefits under PWIL ESOP 2026 to eligible employees of group companies, including subsidiary companies, associate companies, and holding companies, whether located in India or outside India.

Voting Results

Both resolutions were passed with requisite majority. A total of 6,657,991 votes were polled, representing 72.0094% of the total outstanding shares of 9,246,000. All votes polled were cast in favour of both resolutions, with zero votes against and zero invalid votes recorded across all categories.

The detailed voting outcome for Resolution 1 (Approval of PWIL ESOP 2026) is as follows:

The detailed voting outcome for Resolution 2 (Extension of ESOP Benefits to Group Company Employees) is as follows:

Of the total votes polled, 11 members voted via remote e-voting in favour of each resolution, casting 6,657,991 votes, representing 100% of total votes cast. No votes were cast at the EGM itself, and no invalid votes were recorded for either resolution across any shareholder category.

The meeting concluded with the Chairperson presenting a vote of thanks to the members, directors, and Scrutinizer in attendance.