Studds Accessories board has approved the incorporation of a wholly owned subsidiary in Italy, Europe, replacing the earlier approved location of Spain, following a board meeting held on April 22, 2026.

Board Decision and Location Change

The board of directors, in their meeting held on April 22, 2026, approved changing the location of the proposed wholly owned subsidiary from Spain to Italy, Europe. The original approval for establishing a subsidiary in Spain was granted during the board meeting held on November 26, 2025.

Subsidiary Structure and Investment

The wholly owned subsidiary will be incorporated with a capital of up to EUR 1,000,000. Studds Accessories Limited will hold 100% shareholding in the proposed subsidiary, with subscription through cash consideration.

Business Operations and Strategy

The subsidiary's principal business activities will focus on importation, distribution, marketing and sales of Studds Accessories products in Europe. This initiative forms part of the company's global growth strategy to strengthen presence in the European market.

Regulatory Compliance

The incorporation is subject to approvals from relevant statutory authorities, including European authorities. The company has submitted the required details under SEBI Listing Regulations and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026, as Annexure-I to the stock exchanges.

Studds accessories Limited has submitted its quarterly compliance certificate to stock exchanges for the quarter ended March 31, 2026. The submission fulfills regulatory requirements under SEBI (Depositories and Participants) Regulations, 2018.

Regulatory Compliance Submission

The company submitted the Certificate pursuant to Regulation 74(5) of Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018 on April 07, 2026. The certificate was issued by MUFG Intime India Private Limited (formerly known as Link Intime India Private Limited), which serves as the Registrar to an Issue and Share Transfer Agent for the company.

Certificate Confirmation Details

MUFG Intime India Private Limited confirmed that securities received from depository participants for dematerialization during the quarter ended March 31, 2026 were properly processed. The registrar verified that all securities comprised in the certificates have been listed on stock exchanges where the company's earlier issued securities are listed.

The certificate also confirms that:

• Security certificates received for dematerialisation were confirmed or rejected within prescribed timelines
• Received certificates were mutilated and cancelled after due verification by the depository participant
• Names of depositories were substituted in the register of members as registered owners

Stock Exchange Notification

The submission was made to both National Stock Exchange of India Limited and BSE Limited simultaneously. Company Secretary and Compliance Officer Asha Mittal signed the submission letter, ensuring compliance with regulatory disclosure requirements.

Copies of the certificate were also forwarded to National Securities Depository Limited and Central Depository Services (India) Limited as part of the standard compliance process. This quarterly submission demonstrates the company's adherence to SEBI regulations governing depositories and participants.