Ambalal Sarabhai Enterprises Limited (ASE) has announced a significant development regarding its joint venture, CoSara Diagnostics Pvt. Ltd. The company's joint venture partner, Co-Diagnostics Inc., has engaged Maxim Group LLC as its exclusive financial advisor to explore strategic alternatives for the Indian joint venture.

Strategic Exploration

The primary focus of this engagement is to investigate potential strategic options for CoSara Diagnostics, including:

• A possible merger with a Special Purpose Acquisition Company (SPAC)
• Exploring similar entities listed on a U.S. national securities exchange

This move aims to unlock value for CoSara and its shareholders while helping the venture realize its founding vision, according to Co-Diagnostics CEO Dwight Egan.

About CoSara Diagnostics

CoSara Diagnostics, established in 2017, is a joint venture with the following structure:

The joint venture focuses on manufacturing and selling molecular diagnostics products to patients and healthcare providers in international markets, with an initial emphasis on India.

Company Background

Ambalal Sarabhai Enterprises Ltd., the parent company of Synbiotics Ltd., is a publicly-listed entity on the Bombay Stock Exchange. The company, through its subsidiaries, has diverse interests including:

• Pharmaceutical products for international markets (via Asence Inc.)
• Molecular diagnostics (through the CoSara joint venture)

Potential Impact

This strategic exploration could potentially lead to:

1. Enhanced visibility for CoSara Diagnostics in the U.S. financial markets
2. Access to additional capital for growth and expansion
3. Increased value creation for Ambalal Sarabhai Enterprises shareholders

As the situation develops, investors and stakeholders will be keenly watching for further announcements regarding the outcome of these strategic explorations.

Ambalal Sarabhai Enterprises Limited (ASE) has announced a significant achievement for its Telerad division, operating under Systronics India Limited. The division has been honored with the 'Best Regional Distributor — Broadcast - West Award' at the prestigious Broadcast India Show 2025, held in Mumbai in October.

Award Details

About Telerad

Telerad, described as a total solution company, has established itself as a leading system integrator in the broadcast industry. The division is known for providing comprehensive end-to-end solutions across various broadcast segments.

Significance of the Award

This recognition underscores Telerad's position as a leader in the broadcast solutions sector. It highlights the division's commitment to:

• Delivering innovative broadcast solutions
• Providing exceptional services to industries
• Maintaining a strong presence in the western region of India

Company's Official Statement

In an official communication to the BSE Limited, Ms. Disha Punjani, Company Secretary & Compliance Officer of Ambalal Sarabhai Enterprises Limited, stated:

"Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that our Telerad (division of Systronics India Limited), has been honored with the 'Best Regional Distributor — Broadcast - West Award' at the Broadcast India Show 2025 held in Mumbai in October 2025."

This award serves as a testament to Telerad's expertise and its significant contributions to the broadcast industry. It also reinforces Ambalal Sarabhai Enterprises Limited's position in the market, particularly in the technology and solutions sector.

The recognition at such a prominent industry event may potentially boost the company's reputation and could lead to increased business opportunities in the broadcast solutions market.