Shraddha Prime Projects Ltd. (formerly Towa Sokki Limited) has successfully concluded its board meeting held on March 20, 2026, with the approval of a significant rights issue proposal. The board has approved raising funds through the issuance of up to ₹9,700 lakhs via a rights issue to eligible equity shareholders.

Board Meeting Outcome and Approval

The board meeting, which commenced at 3:30 PM and concluded at 4:00 PM (IST), resulted in the formal approval of the fundraising initiative. The company communicated the outcome to the Bombay Stock Exchange under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Rights Issue Committee Formation

The board has constituted a dedicated Rights Issue Committee to oversee the comprehensive execution of the fundraising process. This committee will have the authority to determine crucial aspects of the rights issue, ensuring optimal execution aligned with market conditions and regulatory requirements.

The committee's responsibilities include:

• Determination of rights issue price and related payment mechanism
• Setting the rights entitlement ratio for existing shareholders
• Establishing the record date and timing of the rights issue
• Managing other related operational matters

Securities and Regulatory Framework

The rights issue will involve the issuance of equity shares to eligible equity shareholders. The specific number of securities and pricing will be determined by the board or its designated committee, with the aggregate amount not exceeding ₹9,700 lakhs.

Next Steps and Approvals

The execution of the rights issue remains subject to receiving in-principle approval from the stock exchange where the company's equity shares are listed, along with approvals from other regulatory authorities as may be required. The Rights Issue Committee will work towards securing these necessary approvals while finalizing the specific terms and conditions.

The company has committed to maintaining transparency throughout the process, with all relevant information being made available on its website at www.shraddhaprimeprojects.in . Managing Director Sudhir Balu Mehta (DIN: 02215452) signed the official communication to the exchange, confirming the board's decisions and the company's commitment to regulatory compliance.

Shraddha Prime Projects Limited has submitted a revised intimation to the Bombay Stock Exchange regarding the pledge creation by its promoter Mr. Sudhir Balu Mehta on equity shares of the company. The revision was necessitated due to a discrepancy identified by BSE wherein the post-event holding of encumbered shares was not tallying in the original submission.

Pledge Details

Mr. Sudhir Balu Mehta, promoter of Shraddha Prime Projects Limited, has created a pledge on 70,00,000 equity shares held by him in the company. The pledge was executed in favour of HDFC Bank Limited on February 28, 2026.

Purpose and Compliance

The pledge has been created as security for a loan availed by Shraddha Housing Projects Limited, where Mr. Sudhir Balu Mehta serves as a designated partner. The disclosure was made pursuant to Regulation 31(1) and 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Promoter Holdings

According to the disclosure format, Mr. Sudhir Balu Mehta holds 30,21,05,48 equity shares in Shraddha Prime Projects Limited, representing 74.78% of the total share capital. Prior to this pledge creation, he had no encumbered shares in the company.

Documentation and Disclosure

The company has uploaded the intimation along with relevant documents on its official website at shraddhaprimeprojects.in. The disclosure was signed by Company Secretary Neha Bharat Chhatbar on behalf of Shraddha Prime Projects Limited. Mr. Sudhir Balu Mehta also provided his separate disclosure letter to both the company and the stock exchange, digitally signed on March 12, 2026.