SAB Events & Governance Now Media Limited (NSE: SABEVENTS) has approved a proposal to seek a further 45-day extension from the Registrar of Companies for convening its 13th Annual General Meeting. The decision follows delays in implementing critical corporate actions mandated by the National Company Law Tribunal's approved resolution plan.

The Board of Directors took this decision at a meeting held on October 19, 2026. The company had previously received a 45-day extension from the Registrar of Companies, Mumbai-I, via an order dated August 24, 2026. This initial extension was intended to allow time for holding the AGM for the financial year ended March 31, 2026.

Reasons for Delay

The company stated that despite ongoing efforts, certain procedural formalities remain under implementation. These steps are essential before the AGM can be convened. The pending actions include:

• Freezing of the existing ISIN of the company.
• Allotment of equity shares following capital reduction.
• Activation of a new ISIN.
• Completion of related depository and regulatory formalities.

The company is currently in the process of executing various corporate actions envisaged under the approved resolution plan, including capital reduction and other consequential changes. The Board determined that additional time is required to complete these steps and serve the interests of stakeholders.

Meeting Details

The Board meeting commenced at 11:20 am and concluded at 01:00 pm on Monday, October 19, 2026. The proposal was approved in accordance with the applicable provisions of the Companies Act, 2013. The company will now approach the Registrar of Companies, Mumbai-I, for the requested extension.

SAB Events & Governance Now Media Limited (NSE: SABEVENTS) board approved a preferential issue of equity shares and convertible warrants on September 18, 2026. The resolution implements the National Company Law Tribunal-approved plan.

The board sanctioned the issuance of up to 12,00,000 equity shares to promoter Sri Adhikari Brothers Assets Holdings Private Limited and 73,00,000 shares to strategic investors in the public category. All equity shares were issued at a price of ₹22.50 each. Additionally, the company approved the issuance of 60,00,000 convertible warrants to strategic investors at the same price point.

Preferential Issue Details

The total equity share issuance amounts to ₹19.13 crore. The promoter entity received 12,00,000 shares worth ₹2.7 crore. Strategic investors, including SERA Capital AIF, SERA Investments & Finance India Ltd, and three individual investors, subscribed to 73,00,000 shares valued at ₹16.43 crore.

The convertible warrant issue raises ₹13.5 crore. Each warrant is convertible into one fully paid-up equity share of face value ₹10 each. Investors must pay 25% of the issue price at allotment, with the remaining 75% payable within 18 months of allotment or upon exercise. If not exercised within this period, the warrants lapse and the paid amount is forfeited.

Merger Implementation

The board also approved the issuance of 1,10,34,070 equity shares to shareholders of Sri Adhikari Brothers Digital Network Private Limited pursuant to the scheme of amalgamation. The share exchange ratio stands at 436 equity shares of SAB Events for every 100 equity shares held in the transferor company. These shares are issued at nil consideration as part of the merger under the Resolution Plan.

Post-allotment, the promoter group, comprising Sri Adhikari Brothers Assets Holdings Private Limited, Sri Tirupati Balaji Family Trust, and Sri Mahakaal Family Trust, will hold 61.43% stake. The public category investors will hold 36.65% stake. The fully diluted shareholding, including converted warrants, shows the three strategic warrant holders potentially holding 23.15% combined stake upon conversion.

Regulatory Context

These approvals follow the NCLT Mumbai Bench-I order dated July 10, 2026, passed under Section 54L read with Section 31 of the Insolvency and Bankruptcy Code, 2016. The company received the certified copy of the order on July 21, 2026. The transactions comply with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and other applicable laws.