NewsCorporate ActionsRelic Technologies Board Approves Major Corporate Changes and Share AllotmentRelic Technologies Board Approves Major Corporate Changes and Share Allotment
Relic Technologies Limited's board meeting on December 13, 2025, resulted in comprehensive corporate restructuring decisions including office relocation within Mumbai, proposed name change to Truhealthy Sciences Limited subject to shareholder approval, successful conversion of warrants into 4,41,164 equity shares raising ₹2.81 crores, launch of employee stock option scheme covering up to 1,10,000 options, and key leadership appointments including Mrs. Radhika Shriram as Additional Director and Ms. Vibhuti Dani as Secretarial Auditor.
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Relic Technologies Limited announced comprehensive strategic decisions following its Board of Directors meeting held on December 13, 2025. The board approved multiple initiatives including office relocation, name change, equity share allotment, and governance appointments as part of its corporate restructuring efforts.
Office Relocation and Name Change
The board approved shifting the company's registered office to 6, Floor-Grd, Plot-79, Himalaya House, Ramabai Ambedkar Marg, Crawford Market, Fort, Mumbai-400001, effective from January 1, 2026. This relocation remains within Mumbai city limits and the existing Registrar of Companies jurisdiction.
The board also approved a proposed name change from Relic Technologies Limited to Truhealthy Sciences Limited. The company received approval for this name change from the Central Registration Centre (CRC), Ministry of Corporate Affairs, dated December 1, 2025. The name change requires shareholder approval through a special resolution at an upcoming Extraordinary General Meeting.
Equity Share Allotment on Warrant Conversion
The board approved allotment of 4,41,164 equity shares of face value ₹10.00 each at an issue price of ₹85.00 per share (including premium of ₹75.00 per share) upon conversion of warrants issued on preferential basis. The conversion was completed upon receipt of balance consideration amounting to ₹2,81,24,205.00, representing 75% of the issue price.
| Allottee Details: | Category | Shares Allotted | Amount Received (₹) |
|---|---|---|---|
| Nehal Narendra Gandhi | Individual/Promoter | 30,500 | 19,44,375.00 |
| Kunal Narendra Gandhi | Individual/Promoter | 36,280 | 23,12,850.00 |
| ENAI Trading and Investment Pvt. Ltd. | Body Corporate/Promoter | 39,384 | 25,10,730.00 |
| Radhika Shriram | Individual/Non-Promoter | 3,00,000 | 1,91,25,000.00 |
| Karthik Iyer | Individual/Non-Promoter | 35,000 | 22,31,250.00 |
Following this allotment, the company's issued, subscribed and paid-up equity share capital increased to ₹5,59,11,640.00, consisting of 55,91,164 fully paid-up equity shares of ₹10.00 each.
Post-Allotment Shareholding Pattern
The shareholding pattern shows significant changes following the warrant conversion:
| Shareholder Name: | Pre-Issue Shares | Pre-Issue % | Post-Issue Shares | Post-Issue % |
|---|---|---|---|---|
| Nehal Narendra Gandhi | 6,09,500 | 11.83% | 6,40,000 | 11.45% |
| Kunal Narendra Gandhi | 13,88,720 | 26.97% | 14,25,000 | 25.49% |
| ENAI Trading and Investment Pvt. Ltd. | 3,85,616 | 7.49% | 4,25,000 | 7.60% |
| Radhika Shriram | - | - | 3,00,000 | 5.37% |
| Karthik Iyer | - | - | 35,000 | 0.63% |
Employee Stock Option Plan Launch
Based on recommendations from the Nomination and Remuneration Committee, the board approved the Truhealthy Employee Stock Option 2025 (ESOP 2025) scheme. The plan covers up to 1,10,000 stock options for eligible employees of the company and its subsidiaries, excluding promoters and promoter group employees.
| ESOP Parameters: | Details |
|---|---|
| Maximum Options: | 1,10,000 stock options |
| Grant Price: | Between face value and fair market value |
| Compliance: | SEBI (Share Based Employee Benefits) Regulations, 2021 |
| Approval Required: | Shareholder approval at upcoming EGM |
Leadership Appointments
The board appointed Mrs. Radhika Shriram (DIN: 06479790) as Additional Non-Executive Non-Independent Director effective December 13, 2025. Mrs. Shriram is a double graduate in commerce and education with entrepreneurial and investment experience. She currently holds 3,00,000 equity shares in the company and serves as a Director in Truhealthy Wellness Private Limited, a subsidiary of the company.
The company also appointed Ms. Vibhuti Dani of M/s. Vibhuti Dani and Associates, Practising Company Secretaries, as Secretarial Auditors for FY 2025-26. Ms. Dani is a Fellow Member of the Institute of Company Secretaries of India with over 17 years of professional experience in corporate laws, secretarial audits, and SEBI compliance.
Regulatory Compliance and Next Steps
The board decided to convene an Extraordinary General Meeting (EGM) to seek shareholder approval for the proposed name change and ESOP scheme. The notice for the EGM will be submitted in due course. All decisions were made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board meeting commenced at 5:45 PM IST and concluded at 7:05 PM IST on December 13, 2025.
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