Bizotic Commercial Limited has completed a comprehensive warrant allotment program, issuing a total of 16,02,000 convertible warrants to its promoter group entities across two board meetings. The company initially allotted 12,58,000 warrants on February 21, followed by an additional 3,44,000 warrants on February 23, both at Rs. 290.00 per warrant.

Initial Warrant Allotment - February 21

The first board meeting approved the allotment of 12,58,000 convertible warrants to four promoter group entities. The allotment was conducted under Regulation 30 of SEBI listing regulations and in accordance with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Additional Warrant Allotment - February 23

In continuation of the previous meeting, the board convened again on February 23, from 3:30 PM to 4:00 PM, approving the allotment of an additional 3,44,000 convertible warrants to Bizotic Industries Private Limited, another promoter group entity. The board meeting was held at the company's registered office at 15, Ashwamegh Warehouses, Ujala Circle, Sarkhej, Ahmedabad, Dascroi, Gujarat.

Warrant Terms and Conversion Details

All convertible warrants carry identical terms across both allotments. Each warrant entitles the holder to convert it into one fully paid-up equity share of the company within 18 months from the respective allotment dates. Warrant holders are required to pay the remaining 75% of the issue price at the time of exercising the conversion option.

Capital Structure Impact

Upon complete conversion of all 16,02,000 warrants, the company's paid-up equity share capital will increase from Rs. 8,04,00,000 divided into 80,40,000 equity shares to Rs. 9,64,20,000 divided into 96,42,000 equity shares, each having a face value of Rs. 10.00. The phased warrant allotment strategy has generated Rs. 11,61,45,000 as upfront consideration, providing immediate capital infusion while maintaining flexibility for warrant holders regarding conversion timing.

Bizotic Commercial Limited's board of directors convened on February 19, 2026, to address key governance matters including statutory auditor appointment and executive changes. The company informed BSE Limited about these significant developments through regulatory filings under Regulation 30 of the SEBI Listing Regulations.

New Statutory Auditor Appointment

Upon recommendation of the Audit Committee, the board approved the appointment of M/s. Shweta Jain & Co LLP Chartered Accountants (FRN: 127673W) as new statutory auditors to fill the casual vacancy created by the resignation of M/s J Singh & Associates Chartered Accountants (FRN: 110266W) on December 19, 2025.

M/s. Shweta Jain & Co LLP, established in 2006, operates from Mumbai with branches in Bangalore, Udaipur, and Ahmedabad. The firm combines professionalism with personalized service, focusing on delivering high-quality audit services while ensuring financial statements provide a true and fair view in accordance with Generally Accepted Accounting Principles.

CFO and Executive Director Resignation Confirmed

The board formally acknowledged the resignation of Ms. Inderpreet Kaur Gulati (DIN: 09213754) from her dual positions as Chief Financial Officer and Executive Director, effective from the closing of business hours on February 13, 2026.

Ms. Gulati submitted her resignation letter on February 13, 2026, citing personal reasons and her intention to explore other professional avenues. The company acknowledged her tremendous contribution to the organization's growth during her tenure.

Extraordinary General Meeting Scheduled

The board decided to convene the Fourth Extraordinary General Meeting (EGM) on Saturday, March 14, 2026, to seek shareholder approval for the appointment of M/s. Shweta Jain & Co LLP as statutory auditors. The appointment is subject to shareholder approval as per provisions of Section 139 of the Companies Act, 2013.

Board Meeting Details

The board meeting commenced at 5:00 PM and concluded at 8:15 PM on February 19, 2026. Managing Director Sanjay Mahavirprasad Gupta (DIN: 07610448) digitally signed the regulatory filing, ensuring compliance with SEBI disclosure requirements. The company has committed to filing necessary notices with the Registrar of Companies and providing required documentation to all concerned parties.