Swarnsarita Jewels India Limited has appointed Mr. Jash Amit Adani as an Additional Director in the Non-Executive-Independent Director category for a term of five years effective May 28, 2026. The appointment is subject to the approval of the company's shareholders. Mr. Adani is not related to any existing director and satisfies the independence criteria prescribed under the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Board of Directors approved the appointment at its meeting held on May 28, 2026. Mr. Adani holds a Directors Identification Number (DIN) 11746006 and brings over five years of experience in the e-commerce industry, with expertise in finance and strategic matters. He is a post-graduate in Management (Finance) from IBS Mumbai and a graduate in Accounts and Finance from S M Shetty College Mumbai.

Following the appointment, the Board reconstituted its key committees to ensure compliance with the Companies Act, 2013 and SEBI LODR Regulations, 2015. Mr. Adani has been inducted into the Audit Committee, the Nomination and Remuneration Committee, and the Stakeholders Relationship Committee.

Committee Composition

The composition of the reconstituted committees is detailed below:

The above composition applies to the Audit Committee, the Nomination and Remuneration Committee, and the Stakeholders Relationship Committee. Deep Shailesh Lakhani serves as the Chairman for all three committees.

Swarnsarita Jewels India Limited has completed its open offer under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, with the Post Offer Advertisement published on May 06, 2026. The offer was made by Mr. Mahendra Madanlal Chordia (Acquirer 1), Mrs. Asha M Chordia (Acquirer 2), and Mr. Sunny Mahendra Chordia (Acquirer 3), along with Swarnsarita Jewellers Private Limited as the Person Acting in Concert (PAC). Mark Corporate Advisors Private Limited acted as the Manager to the Offer, while MUFG Intime India Private Limited served as the Registrar to the Offer.

Open Offer Key Details

The open offer was initiated for the acquisition of up to 47,94,987 fully paid-up equity shares of face value ₹10 each, representing 22.97% of the voting share capital of the Target Company, at a price of ₹32.15 per equity share. The Detailed Public Statement was published on January 28, 2026, and the Letter of Offer was dated March 18, 2026. The following table summarises the key dates and parties involved in the offer:

Offer Outcome: Proposed vs. Actual

Against the proposed acquisition of up to 47,94,987 equity shares, the actual number of shares tendered and accepted stood at 17,05,843 equity shares. The total consideration paid for the accepted shares amounted to ₹5,48,42,852.45 (excluding brokerage and other charges), compared to the proposed offer size of ₹15,41,58,832.05. The following table presents a detailed comparison of proposed and actual figures:

Shareholding Changes: Pre and Post Offer

The shareholding of the acquirers and the PAC prior to the public announcement stood at 1,08,62,613 equity shares, representing 52.03% of the voting share capital. Following the completion of the open offer, their combined post-offer shareholding stands at 1,25,68,456 equity shares, representing 60.20% of the voting share capital. Correspondingly, the public shareholding has moved from 1,00,14,187 equity shares (47.97%) before the offer to 83,08,344 equity shares (39.80%) after the offer.

Note: Acquirer and PAC shareholding figures include 50,000 equity shares held in aggregate by other promoters (Mahendra Madanlal Chordia HUF — 30,000 shares and Seema Rajendra Chordia — 20,000 shares) who are not part of this open offer.

Post Offer Advertisement Publication

In compliance with Regulation 18(12) of SEBI (SAST) Regulations, 2011, the Post Offer Advertisement was published in the same newspapers where the Detailed Public Statement had originally appeared:

• Business Standard (English) — All Editions
• Business Standard (Hindi) — All Editions
• Navshakti (Marathi) — Mumbai Edition

The acquirers and the PAC have accepted full responsibility for the information contained in this Post Offer Advertisement and for their obligations under SEBI (SAST) Regulations, 2011. A copy of the advertisement is available on the websites of SEBI and BSE Limited, and has been dispatched to the registered office of the Target Company.