Sheetal Cool Products Limited has disclosed a substantial acquisition of shares by promoter group member Yash Bhupatbhai Bhuva and his persons acting in concert (PACs) under SEBI regulations. The transaction involves the acquisition of 144,800 equity shares through a gift arrangement without any monetary consideration.

Acquisition Details

The share acquisition represents a significant increase in Yash Bhupatbhai Bhuva's stake in the company. The transaction details are summarized below:

Promoter Group Structure

Yash Bhupatbhai Bhuva is acting in concert with 10 other members belonging to the promoter/promoter group. The PACs include family members from the Bhuva family:

• Sanjay Dakubhai Bhuva
• Bhupatbhai Dakubhai Bhuva
• Dineshkumar Dakubhai Bhuva
• Asmitaben Sanjaybhai Bhuva
• Kajalben Dineshbhai Bhuva
• Nayanaben Bhupatbhai Bhuva
• Dakubhai Jivrajbhai Bhuva
• Shantaben Dakubhai Bhuva
• Hardik Dineshbhai Bhuva
• Ektaben Hardikbhai Bhuva

Company Information

Sheetal Cool Products Limited maintains its equity structure unchanged following this transaction:

The company's shares are listed on both BSE Limited and National Stock Exchange of India Limited. The disclosure was made on 21/03/2026 from Amreli, Gujarat, in compliance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Regulatory Compliance

This transaction represents an internal reorganization within the promoter group through a gift mechanism. The acquisition does not involve any encumbrances, voting rights other than equity shares, or convertible securities. The disclosure ensures transparency in shareholding changes as mandated by securities regulations for listed companies.

Sheetal Cool Products Limited has completed the allotment of 8.40 lakh convertible warrants to non-promoter investors following the board meeting held on February 26, 2026. The company received Rs. 6,67,06,500 as 25% of the aggregate consideration payable towards warrant subscription from all allottees, as disclosed in the official board meeting outcome submitted to BSE Limited and National Stock Exchange of India Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Warrant Allotment Details

The board approved the allotment of convertible warrants under a preferential issue on private placement basis. The warrants are convertible into equity shares at a ratio of one equity share per warrant, with each warrant priced at Rs. 317.65.

Allottee Distribution

Four non-promoter investors participated in the warrant allotment, with Orbit Financial Capital receiving the largest allocation.

Orbit Financial Capital is represented by eight partners including Meena Sheth, Mamta Ashish Sheth, Amit Arvind Sheth, Shreya Amit Sheth, Ashish Arvind Sheth, Aanya Amit Sheth, Athena Amit Sheth, and Amyra Ashish Sheth.

Board Approvals and Corporate Changes

The board meeting, which commenced at 4:00 PM and concluded at 4:30 PM, approved several key corporate decisions beyond the warrant allotment.

Secretarial Auditor Appointment

The board appointed M/s. Pitroda Nayan & Co. as the company's Secretarial Auditor for five consecutive years from FY 2025-26 to FY 2029-30, subject to shareholder approval.

Registered Office Relocation

The board approved shifting the company's registered office from Amreli to Ahmedabad within the jurisdiction of the same Registrar of Companies (ROC), Ahmedabad. This change is subject to shareholder approval through postal ballot.

Warrant Conversion Terms

The convertible warrants carry specific terms for conversion and lapse conditions. Warrant holders can convert their warrants into fully paid-up equity shares at any time within 18 months from the allotment date of February 26, 2026. The conversion can be exercised in one or more tranches as per the terms and conditions applicable.

Warrants remaining unconverted after the 18-month period will lapse automatically, and the amount paid by warrant holders will stand forfeited. The company had previously received in-principle approval from both BSE Limited and National Stock Exchange of India Limited for the warrant issuance.

The successful completion of this preferential allotment strengthens the company's capital base while the corporate governance enhancements through new auditor appointment and office relocation demonstrate ongoing organizational development.