Banganga Paper Industries Limited has announced a comprehensive preferential issue of equity shares and convertible warrants following shareholder approval at its Extraordinary General Meeting held on January 14, 2026. The company successfully concluded the EGM with shareholders demonstrating strong support by approving all 10 proposed resolutions, including authorization for the preferential issue.

Preferential Issue Details

The company has disclosed details of its preferential issue under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The issue comprises multiple components targeting different investor categories.

Share Swap Arrangements

The preferential issue includes significant share swap transactions with non-promoter investors. The largest allocation goes to Ronak Jain with 3,28,34,551 shares, followed by Sarita Jain with 3,21,40,772 shares, and Jasmine with 2,97,45,582 shares.

Cash Issue and Convertible Warrants

The cash component of the preferential issue targets multiple non-promoter investors, with Deepak Saraf receiving the largest allocation of 1,65,75,000 shares. Estara Ventures Private Limited and Himathsingh R Marak are also significant beneficiaries with allocations of 1,50,00,000 and 1,48,05,000 shares respectively.

The convertible warrants component includes allocations to the Jain family members, with Karishma Jain receiving 60,00,000 warrants, while Ronak Jain and Priyanka Jain each receive 50,00,000 warrants.

EGM Success and Corporate Transformation

The EGM was conducted through video conferencing, commencing at 12:02 PM and concluding at 12:46 PM on January 14, 2026. Despite technical difficulties that delayed the originally scheduled 11:00 AM start time, the meeting proceeded with robust shareholder participation, demonstrating 100.00% participation from public non-institutional shareholders.

The approved resolutions included increase in borrowing limits, enhancement of authorized share capital structure, official name change from Inertia Steel Limited to Banganga Paper Industries Limited, and authorization for the preferential issue of equity shares and convertible warrants.

Regulatory Compliance and Next Steps

The preferential issue has been structured in compliance with Sections 62(1)(c) and 42 of the Companies Act, 2013, and SEBI regulations. For the convertible warrants, investors will pay 25% of the warrant price at allotment, with the remaining 75% payable upon conversion to equity shares. The newly issued shares will rank pari passu with existing equity shares and will be listed on the stock exchange subject to necessary approvals.

This comprehensive capital raising initiative positions Banganga Paper Industries Limited for its next phase of growth under its new corporate identity, with the company having successfully transitioned from its former identity as Inertia Steel Limited.

Banganga Paper Industries Limited has secured shareholder approval for a comprehensive transformation, including a significant name change and major business expansion. The company announced that shareholders at an Extraordinary General Meeting held on January 14, 2026, approved changing the company name from "Banganga Paper Industries Limited" to "Asgard Alcobev Limited," marking a strategic pivot towards the alcoholic beverages sector.

Name Change and Corporate Transformation

The name change represents a fundamental shift in the company's identity and strategic direction. The new name "Asgard Alcobev Limited" clearly signals the company's commitment to the alcoholic beverages industry, moving away from its traditional paper manufacturing roots.

Business Expansion into Beverages Sector

Alongside the name change, shareholders approved amendments to the company's Memorandum of Association to enable comprehensive beverages manufacturing operations. The new business objects allow the company to engage in manufacturing, distilling, brewing, fermenting, bottling, blending, processing, packaging, marketing, trading, importing, exporting, and dealing in all kinds of alcoholic and non-alcoholic beverages.

The scope encompasses spirits, wines, liquors, beers, ciders, cocktails, mocktails, mineral water, aerated drinks, juices, energy drinks, and other potable liquids. The company is authorized to establish, acquire, operate and manage breweries, distilleries, wineries, bottling plants, blending units, cold storage facilities, and allied infrastructure.

Research and Hospitality Operations

The amendment enables the company to undertake research, development, and innovation in beverage formulations, flavour enhancement, preservation techniques, and sustainable packaging solutions. The company can now acquire, license, or develop intellectual property, trademarks, and proprietary technologies related to the beverages business.

The second major business vertical focuses on hospitality, retail, and distribution activities, including setting up bars, lounges, tasting rooms, retail outlets, and e-commerce platforms for product sales and promotion.

Regulatory Approvals and Implementation

Both the name change and business expansion amendments are subject to approval from the Central Government, Stock Exchanges, and appropriate regulatory and statutory authorities, including the Registrar of Companies under the Ministry of Corporate Affairs. The company has fulfilled its disclosure obligations under SEBI Listing Regulations by communicating these developments to BSE on January 15, 2026.

Company Secretary and Compliance Officer Jitendra Rajendra Patil signed the regulatory filing, confirming the company's commitment to regulatory compliance throughout this transformation process. The company, formerly known as Inertia Steel Limited, is registered in Maharashtra with its office located in Nashik.