Shubhlaxmi Jewel Art Limited has informed the National Stock Exchange of India Limited that it has received requests from two members of its promoter group seeking reclassification as public shareholders. The intimation, filed on May 11, 2026, relates to requests submitted on April 27, 2026, under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Reclassification Requests Received

The company received formal request letters from the following promoter group shareholders, both of whom currently hold nil shares and represent a nil percentage of the company's shareholding.

Both individuals have submitted their requests along with the requisite justification and confirmation of facts as mandated under the applicable SEBI regulations.

Board Consideration Scheduled

The reclassification requests are set to be placed before the Board of Directors of Shubhlaxmi Jewel Art at its ensuing meeting scheduled for May 30, 2026. Necessary action is to be taken following the Board's consideration of the matter.

Delayed Disclosure Acknowledged

The company acknowledged that the disclosure of this material event was not disseminated to the stock exchange within the prescribed timeline of 24 hours, as required under Regulation 31A(8)(a) of the SEBI LODR Regulations. The company attributed the delay to an inadvertent oversight and internal administrative lapse, stating that there was no mala fide intention or suppression of material information involved.

Upon identifying the lapse, the company stated it took immediate corrective steps to ensure the required disclosure was made to the stock exchange. Shubhlaxmi Jewel Art has also indicated that it is strengthening its internal compliance monitoring mechanism to prevent recurrence of such delays and to ensure timely adherence to all applicable provisions of the SEBI LODR Regulations. The company has requested the exchange to take the clarification on record and condone the inadvertent delay.

Shubhlaxmi Jewel Art has announced significant corporate developments aimed at strengthening its capital structure and expanding its investor base. The jewellery company has outlined plans to raise substantial funds while opening doors for increased foreign participation.

Fundraising Initiative

The company has announced its intention to raise up to ₹500.00 crores through a Qualified Institutional Placement (QIP). This fundraising mechanism allows the company to issue securities to qualified institutional buyers, providing access to substantial capital for business expansion and operational requirements.

Foreign Investment Policy Update

In a parallel development, Shubhlaxmi Jewel Art has increased its foreign investment limit to 49%. This strategic decision expands the company's ability to attract international investors and diversify its shareholder base beyond domestic participants.

Strategic Implications

These corporate actions demonstrate the company's proactive approach to capital management and growth strategy. The combination of QIP fundraising and enhanced foreign investment limits positions the company to:

• Access substantial capital for business expansion
• Attract qualified institutional and international investors
• Strengthen financial flexibility for operational requirements
• Diversify investor base across domestic and foreign participants

The developments reflect Shubhlaxmi Jewel Art's strategic focus on enhancing its capital structure while maintaining compliance with regulatory frameworks governing foreign investment in the Indian jewellery sector.