Dhani Services Limited (DSL) has announced a significant corporate action that will reshape its structure and impact its shareholders. The company's scheme of arrangement, involving DSL and 19 other companies, has become effective as of October 14, 2025, with an appointed date of April 1, 2023. This development follows the approval from the National Company Law Tribunal (NCLT).

Key Details of the Scheme

• Effective Date: October 14, 2025
• Appointed Date: April 1, 2023
• Record Date: October 28, 2025

Share Exchange Ratio

The board committee of DSL has fixed October 28, 2025, as the record date for determining shareholders eligible to receive shares in Yaari Digital Integrated Services Limited (Yaari). The share exchange ratio has been set as follows:

Note: Partly paid-up shares of DSL have a paid-up value of 55% (INR 1.1 per share).

Issuance and Listing of New Shares

The new equity shares of Yaari, with a face value of Rs. 2 each, will be issued in dematerialized form. These shares will be submitted for listing and trading on both the BSE Limited and the National Stock Exchange of India Limited. It's important to note that these new shares will rank pari-passu with the existing fully paid-up equity shares of Yaari.

Delisting of Dhani Services Limited

As a consequence of this scheme coming into effect, the equity shares of Dhani Services Limited will be delisted from the stock exchanges, in accordance with applicable regulations.

Implications for Shareholders

Shareholders of DSL should take note of the record date and prepare for the transition. The scheme represents a significant change in the corporate structure, and investors will need to adjust their portfolios accordingly.

This corporate action marks a pivotal moment for Dhani Services Limited and its associated companies. Shareholders and market participants are advised to closely monitor further announcements and updates regarding the implementation of this scheme.

Dhani Services Limited (DSL) has seen a significant change in its shareholding structure following the conversion of convertible warrants into equity shares by key stakeholders. The move has resulted in an increased stake for Calleis Infracon Private Limited and other entities acting in concert.

Warrant Conversion Details

Calleis Infracon Private Limited acquired 1.12 crore fully paid-up equity shares in Dhani Services Limited through the conversion of convertible warrants. This strategic move has bolstered Calleis Infracon's shareholding in DSL from 1.68% to 3.37%.

Concerted Action by Multiple Entities

In a coordinated effort, Person Acting in Concert (PAC) entities, including Sameer Gehlaut, Innus Developers Private Limited, and Vantage Coal Estate Private Limited, also converted an identical number of warrants (1.12 crore) into equity shares. This action has elevated their combined holding in Dhani Services from 28.40% to 30.49%.

Impact on Ownership Structure

The warrant conversion has had a substantial impact on the ownership structure of Dhani Services Limited:

Transaction Details

• Number of shares allotted: 2.24 crore (1.12 crore each to Calleis Infracon and PACs)
• Face value of shares: Rs. 2 each

Post-Transaction Capital Structure

Following this transaction, Dhani Services Limited's equity share capital has been adjusted:

• New equity share capital: Rs. 130.90 crore
• Total number of equity shares: 66.77 crore

Market Implications

This significant increase in stake by Calleis Infracon and its associated entities signals a strong vote of confidence in Dhani Services Limited. The conversion of warrants into equity shares not only strengthens the position of these stakeholders but also potentially impacts the company's governance and strategic direction.

Investors and market watchers will likely keep a close eye on Dhani Services Limited to see how this change in shareholding structure might influence the company's future operations and performance.

Regulatory Compliance

The disclosure of this transaction was made in compliance with Regulation 29(2) of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, ensuring transparency in the shareholding changes of the listed entity.

As Dhani Services Limited navigates this new ownership landscape, stakeholders will be keen to observe any potential shifts in corporate strategy or governance that may arise from this significant warrant conversion event.