Sancode Technologies Limited has successfully completed the acquisition of the remaining equity stake in Sancode Semi Private Limited, making it a wholly owned subsidiary with effect from March 25, 2026. The Board of Directors approved this strategic move during their meeting held on March 25, 2026, which ran from 04:30 PM to 05:00 PM.

Acquisition Details

The company acquired the remaining 1 equity share of face value Rs. 10 each, representing a 0.01% stake in Sancode Semi Private Limited. This acquisition was completed through cash consideration for a total amount of Rs. 10, bringing Sancode Technologies' shareholding to 100%.

About Sancode Semi Private Limited

Sancode Semi Private Limited operates in the semiconductor manufacturing sector with an authorized capital of Rs. 10,00,000 divided into 1,00,000 equity shares of face value Rs. 10 each. As a newly incorporated company, it does not have any historical turnover data for the past three years.

The subsidiary's business activities encompass:

• Manufacturing, designing, and developing semiconductors
• Assembling, importing, and exporting integrated circuits and microchips
• Dealing in electronic components and related hardware
• Research and development activities to enhance product quality and functionality

Strategic Rationale

This acquisition represents a strategic investment that will enable Sancode Technologies to venture into new business avenues and deploy growth strategies in the semiconductor and microchip business. The move aligns with the company's expansion plans in the technology sector.

Regulatory Compliance

The transaction falls within the ambit of Related Party Transactions since Mr. Mihir Deepak Vora, the promoter and Managing Director of Sancode Technologies Limited, also serves as a Director in Sancode Semi Private Limited. The company has confirmed that the transaction was conducted at arm's length price. As Sancode Semi is registered under the Companies Act, 2013, no additional governmental or regulatory approvals were required for this share subscription.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring full transparency with stakeholders and regulatory authorities.

Sancode Technologies Limited conducted an Extra Ordinary General Meeting (EGM) on March 25, 2026, at its registered office in Mumbai to address several critical corporate matters. The meeting was held at 03:00 P.M. at 403, Shreya House, Parera Hill Road, Chakala, Andheri (East), Mumbai, Maharashtra, under the chairmanship of Managing Director Mihir Deepak Vora.

Meeting Structure and Proceedings

The EGM was conducted in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015. Managing Director Mihir Deepak Vora was elected as Chairman and confirmed the quorum before calling the meeting to order. The Chairman welcomed present directors and shareholders, introducing the company's directors to attendees.

E-Voting Facility and Process

The company provided remote e-voting facility to members through Bigshare Services Private Limited. The electronic voting process was conducted over a three-day period, with specific timing details outlined below:

Special Business Items

The EGM agenda comprised five special business items for member consideration and approval:

• Increase in Authorized Share Capital: Proposal to enhance the company's authorized share capital structure
• Convertible Warrants Issuance: Consideration and approval for issuance of up to 23,25,582 convertible warrants on preferential basis to promoters and non-promoters for cash consideration
• Related Party Transaction Approval: Authorization for material related party transactions with Sancode Semi Private Limited
• Section 186 Authorization: Board authorization for granting loans, guarantees, providing securities and making investments under Section 186 of the Companies Act, 2013
• Section 185 Approval: Obtaining approval to advance loans, give guarantees, or provide security under Section 185 of the Companies Act, 2013

Meeting Conclusion and Next Steps

The Chairman informed members that voting results for all agenda items would be announced through intimation to stock exchanges and published on the company website. The meeting concluded at 03:45 P.M. after the Chairman thanked shareholders for their continued support. A director proposed a vote of thanks to the Chair before the formal conclusion.

The proceedings were digitally signed by Managing Director Mihir Deepak Vora (DIN: 08602271) and communicated to BSE SME Platform as required under regulatory obligations. The company maintains its registered office at the meeting venue and operates under CIN: L74900MH2016PLC280315.