NHC Foods Limited's Board of Directors held a comprehensive meeting on February 9, 2026, addressing multiple strategic and financial matters for the quarter ended December 31, 2025. The board session, which commenced at 10:45 am and concluded at 12:15 pm, resulted in several key approvals that will shape the company's financial trajectory.

Warrant Proceeds Compliance Confirmation

The company formally confirmed to BSE Limited that there is no deviation or variation in the use of proceeds from warrants allotted on preferential basis, adhering to Regulation 32 of SEBI Listing Regulations. The statement, signed by Managing Director Satyam Joshi, confirmed full compliance with the objects stated in the Letter of Offer for the quarter ended December 31, 2025.

Complete Warrant Fund Utilization

The detailed utilization statement reveals that all Rs. 8,12,50,000 raised through warrant conversions has been fully utilized across the stated objectives. The funds were deployed exactly as originally disclosed, with no modifications to the allocation or purposes.

Rights Issue Compliance Status

Separately, the company also confirmed no deviation in the use of proceeds from its Rights Issue. The Rs. 47.42 crores raised through the Rights Issue has been fully utilized across working capital requirements (Rs. 25.00 crores), secured loan repayment (Rs. 15.00 crores), general corporate purposes (Rs. 7.00 crores), and issue-related expenses (Rs. 0.42 crores).

Financial Results and Major Fundraising Initiative

The board approved the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. These results, prepared in accordance with Indian Accounting Standards (Ind AS), underwent limited review by statutory auditors and received Audit Committee recommendations.

Simultaneously, the board authorized a substantial fundraising plan of up to USD 27 Million through various permitted instruments including equity shares, convertible bonds, debentures, warrants, preference shares, and foreign currency convertible bonds.

Enhanced Borrowing Capacity and Corporate Actions

NHC Foods has issued warrants convertible into 6.50 crores equity shares at Rs. 1.25 per share. The warrant conversions occurred on multiple dates including 05-09-2025, 27-10-2025, and 24-12-2025, raising Rs. 8,12,50,000. These conversions resulted in the Managing Director's stake increasing from 3.82% to 13.83% as of December 31, 2025.

The board also approved increasing the company's borrowing limit to Rs. 500 crore under Section 180(1)(a) of the Companies Act, 2013, and approved a draft postal ballot notice for obtaining shareholder approval on specific agenda items.

Satyam Joshi, Managing Director of nhc foods Limited, has acquired a substantial stake in the company through warrant conversion, as disclosed in a regulatory filing to BSE Limited on January 20, 2026.

Share Acquisition Details

The acquisition involved the conversion of warrants into 2,10,00,000 equity shares, which were credited to Joshi's demat account on January 19, 2026. The transaction was executed through preferential allotment as part of the warrant conversion process.

Shareholding Pattern Changes

The warrant conversion significantly altered Joshi's shareholding position in NHC Foods Limited. His voting rights increased substantially following the transaction.

Company Capital Structure Impact

The warrant conversion resulted in an expansion of NHC Foods Limited's equity share capital. The company's total issued and paid-up capital increased following the allotment.

Regulatory Compliance

The disclosure was made pursuant to Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Joshi, who does not belong to the promoter or promoter group, filed the necessary documentation with BSE Limited, where NHC Foods Limited shares are listed under scrip code 517554.

Outstanding Convertible Securities

Following the current conversion, Joshi retains 4,40,00,000 warrants, representing 6.69% of the company's total diluted share capital. These remaining convertible securities provide potential for further equity participation in the company.