Interarch Building Solutions Limited has announced a comprehensive postal ballot notice seeking shareholder approval for three critical special resolutions that will shape the company's strategic direction and capital structure. The notice, issued on February 24, 2026, outlines significant corporate actions including fund reallocation, leadership appointments, and capital raising initiatives.

IPO Proceeds Variation and Reallocation

The company is seeking approval to vary the terms of its Initial Public Offering (IPO) proceeds utilization. From the original IPO conducted through a prospectus dated August 21, 2024, Interarch Building Solutions raised ₹2000 million through a fresh issue of 22,24,539 equity shares at ₹900 per share.

The proposed variation involves redirecting ₹129.40 million from unutilized IPO proceeds, originally designated for Andhra Pradesh Unit-I (₹26.50 million) and upgradation of Kichha & TN/Pantnagar Facilities (₹102.90 million), towards Manufacturing Facility-II at Andhra Pradesh. An additional ₹0.42 million saved from land acquisition costs will also be allocated to this facility, bringing the total reallocation to ₹129.82 million.

Executive Director Appointment

The second resolution proposes the appointment of Mr. Manish Kumar Garg (DIN: 09083957) as Executive Director for a five-year term from February 2, 2026 to February 1, 2031. Mr. Garg, currently serving as Chief Executive Officer, is a Harvard Business School alumnus with over three decades of experience in the metal buildings and pre-engineered buildings sector.

The remuneration package includes additional perquisites such as mediclaim insurance, mobile expenses, gratuity, company car and fuel, along with other benefits as per company policy.

Qualified Institutional Placement (QIP) Fundraising

The third resolution seeks approval for raising up to ₹100 crore through a Qualified Institutional Placement (QIP) by issuing equity shares of ₹10 face value each to Qualified Institutional Buyers. The funds will be utilized for two major expansion projects:

Key features of the proposed QIP include:

• Minimum 10% allocation to Mutual Funds
• Maximum 50% allocation to any single QIB
• Discount of up to 5% on floor price as permitted
• One-year lock-in period for allotted shares
• Completion within 365 days of resolution approval

Voting Process and Timeline

The postal ballot will be conducted exclusively through remote e-voting, with Central Depository Services Limited (CDSL) providing the e-voting platform. CS Vineet K Chaudhary of M/s VKC & Associates has been appointed as the scrutinizer for the process.

Shareholders whose names appear in the Register of Members or List of Beneficial Owners as on the cut-off date and have registered email addresses will be eligible to participate in the e-voting process. The postal ballot notice is available on the company's website at www.interarchbuildings.com and on stock exchange websites.

Interarch Building Solutions Limited has submitted its quarterly monitoring agency report for the period ended December 31, 2025, in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report, prepared by CRISIL Ratings Limited as the appointed monitoring agency, provides a comprehensive overview of the company's IPO proceeds utilization during the third quarter of fiscal year 2026.

Regulatory Compliance Statement

On February 7, 2026, the company filed a formal statement with NSE and BSE confirming no deviations or variations in the use of IPO proceeds for the quarter ended December 31, 2025. Managing Director Arvind Nanda digitally signed the compliance document, reaffirming adherence to the objects mentioned in the original IPO offer letter dated August 22, 2024.

IPO Proceeds Utilization Summary

During the quarter ended December 31, 2025, the company utilized Rs 46.21 million from its IPO proceeds, bringing the cumulative utilization to Rs 1,581.08 million. The monitoring agency confirmed that all utilization remains aligned with the objects disclosed in the original offer document.

Object-wise Fund Deployment

The company's IPO proceeds are being deployed across six primary objects, with varying levels of completion. The capital expenditure towards setting up the project received Rs 0.63 million during the quarter, while upgradation of existing manufacturing facilities saw Rs 18.62 million deployment.

Fund Reallocations and Approvals

The company has undertaken strategic reallocations of IPO proceeds through shareholder approvals. During the quarter ended March 31, 2025, shareholders approved the reallocation of Rs 287.90 million from Object 1, with Rs 240.20 million redirected to Object 2 and Rs 47.70 million to General Corporate Purposes.

Additionally, in May 2025, shareholders approved another reallocation totaling Rs 95.00 million from Objects 1 and 2 toward a new object for manufacturing Facility-II at Andhra Pradesh. This reallocation specifically addresses the final payment for new land acquisition adjacent to the company's existing property.

Deployment of Unutilized Funds

The remaining Rs 300.47 million of unutilized proceeds has been strategically invested in fixed deposits and maintained in designated bank accounts. The largest portion, Rs 190.00 million, is placed in a YES Bank fixed deposit maturing on September 6, 2026, earning 6.45% returns.