Karnawati Innovation Limited has postponed its Rights Issue Committee meeting that was scheduled for December 30, 2025, pending receipt of in-principle approval from the stock exchange. The company had earlier announced board approval for a rights issue aimed at raising funds up to ₹49.00 crores during a board meeting held on December 24, 2025.

Rights Issue Details

The board had approved the issuance and allotment of equity shares with the following parameters:

The rights issue will be offered to eligible equity shareholders of the company as on the record date, which will be announced later. The issue will be conducted subject to receipt of applicable regulatory and statutory approvals.

Committee Meeting Postponement

The Rights Issue Committee meeting was originally scheduled to consider and approve various matters including fixing the record date, issue price, entitlement ratio, and other terms and conditions related to the rights issue. However, the company has now postponed the meeting due to pending regulatory approvals:

The meeting will now be held within the next working day following receipt of the in-principle approval letter from the stock exchange for the rights issue.

Rights Issue Committee Composition

To oversee the rights issue process, the board had constituted a Rights Issue Committee with three members:

Mr. Ravikumar Kirtibhai Patel, who serves as the Managing Director with DIN: 11018966, chairs the committee and has been granted authority to appoint various intermediaries and execute all necessary actions for the rights issue.

Trading Window Status

In compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015 and the company's Code of Conduct, the trading window for dealing in securities remains closed from December 24, 2025. The window will remain closed until 48 hours from the closure of the Rights Issue Committee meeting.

Regulatory Framework

The rights issue will be conducted in accordance with the Companies Act, 2013, Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and other applicable laws. The board has also approved the Draft Letter of Offer and other relevant documents to be filed with BSE Limited.

Karnawati Innovation announced key strategic decisions following its Board of Directors meeting held on December 13, 2025, at the company's registered office. The meeting, which commenced at 2:30 PM and concluded at 3:00 PM, addressed important business expansion and diversification initiatives.

Board Decisions and Strategic Direction

The board made two significant resolutions during the meeting, reflecting the company's adaptive approach to business expansion and strategic planning.

Land Purchase Deferment

After due deliberation, the Board decided to defer the purchase of land for business purposes during the current period. The company stated that this matter will be reconsidered at an appropriate time in the future, indicating a cautious approach to capital allocation and timing of expansion activities.

Agricultural Sector Diversification

In a strategic move toward diversification, the board approved the establishment of a Cold Storage Facility and Cold Room Centre as part of the company's expansion into the agriculture sector. This initiative represents a significant shift in Karnawati Innovation's business focus and operational capabilities.

Expected Benefits of Cold Storage Initiative

The proposed cold storage project is designed to deliver multiple strategic advantages:

• Support agricultural trading activities
• Improve storage capabilities for agricultural products
• Enhance logistics infrastructure
• Create long-term value for the company
• Establish presence in the agriculture sector

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, following the company's prior intimation dated December 10, 2025. Karnawati Innovation operates under CIN L17119GJ1986PLC009009 and trades with ISIN INE214D01021 and BSE scrip code 531671.