Meta Infotech Limited has reported no deviation in the utilization of funds raised through its Initial Public Offering (IPO) for the half year ended March 31, 2026. The company utilized ₹15,37,27,000 of the net proceeds, amounting to ₹17,48,49,000, while the remaining unutilized funds of ₹2,11,22,000 have been temporarily parked in fixed deposits. The Audit Committee reviewed the fund utilization statement at its meeting held on May 27, 2026.

The total amount raised through the IPO was ₹20,01,33,000, which includes issue expenses of ₹2,52,84,000. The company allocated the majority of the funds, ₹15,35,00,000, towards the repayment of outstanding borrowings, specifically the Working Capital Term Loan. This amount has been fully utilized. Additionally, ₹2,27,000 was deployed for general corporate purposes and has been completely used.

Utilization of IPO Proceeds

The following table details the allocation and utilization of funds as of March 31, 2026:

Status of Unutilized Funds

Funds amounting to ₹1,20,42,000 for the new office premises at MINT Sahar and ₹90,80,000 for the interactive experience centre remain unutilized. The company stated that the capital expenditure for these projects is pending due to the non-receipt of the Occupancy Certificate for the MINT Sahar office premises from the builder. The establishment of the Interactive Experience Centre is contingent upon the completion and operational readiness of the Sahar Mint Office premises. Consequently, these projects will commence upon receipt of possession and completion of the office premises.

The company completed its IPO of 49,80,000 equity shares with a face value of ₹10 each at an issue price of ₹161 per share. The equity shares were listed on the Bombay Stock Exchange SME Platform on July 11, 2025. The issue was conducted in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Meta Infotech Limited has issued a postal ballot notice dated May 4, 2026, dispatched on May 6, 2026, seeking the consent of its members for three special resolutions pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice has been sent electronically to all members whose names appeared in the Register of Members or List of Beneficial Owners as on the cut-off date of May 5, 2026, and who had registered their email addresses with the Company, KFin Technologies Limited (RTA), or the depositories NSDL and CDSL. In continuation of the dispatch intimation, the Company published a newspaper advertisement on May 7, 2026, confirming completion of dispatch of the postal ballot notice and e-voting related information.

Newspaper Advertisement Published

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Meta Infotech published the postal ballot notice advertisement on May 7, 2026 in the following newspapers:

The Company noted that the advertisement published in Business Standard (English) was inadvertently printed in Marathi language due to an error at the end of the newspaper vendor. The newspaper edition is English; however, the language of the advertisement was incorrectly published. The matter has been taken up with the concerned vendor to avoid recurrence of such error in future. All other details contained in the advertisements remain unchanged.

Resolutions Proposed for Member Approval

The postal ballot covers three special resolutions, as detailed below:

The first resolution seeks to amend the Articles of Association by inserting a new Clause 41 related to ESOP provisions, which is a prerequisite for implementing any employee stock option scheme under Section 14 of the Companies Act, 2013. The Board has noted that no directors or Key Managerial Personnel or their relatives hold any financial interest in this resolution.

META ESOP Scheme 2026: Key Features

The second resolution proposes the approval of the Meta Infotech Limited ESOP Scheme 2026, under which the Board is authorised to grant, in one or more tranches, options exercisable into not more than 18,88,140 equity shares of face value of Rs. 10/- each. The scheme will be administered directly by the Nomination and Remuneration Committee and involves a fresh issue of shares by the Company. Key salient features of the scheme are outlined below:

Eligible participants include all employees (including contractual employees) working in India or outside India, and directors who are not promoters or independent directors. Promoters, promoter group members, and directors holding more than 10% of outstanding equity shares are excluded from participation.

Grant of Options to COO/CRO Ambrish Deshpande

The third resolution seeks separate member approval — as required under Regulation 6(3) of the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 — for the grant of options to a single identified employee. The Board and Nomination and Remuneration Committee have recommended the issue of up to 9,44,070 options (equivalent to 9,44,070 equity shares) to Mr. Ambrish Deshpande, COO/CRO, over a period of 5 years. This represents not more than 5% of the paid-up share capital of the Company as on 31.03.2026. The options are exercisable at the face value of Rs. 10/- each and the equity shares so allotted shall rank pari-passu with existing shares of the Company.

E-Voting Schedule and Process

The Company has engaged NSDL as the authorised agency for remote e-voting. Members can cast their votes only through the electronic mode; physical postal ballot forms are not being sent. The e-voting schedule is as follows:

Ms. Riddhi Krunal Shah (ACS No. 20168, CP No. 17035), Practicing Company Secretary, Mumbai, has been appointed as the Scrutinizer to conduct the postal ballot process in a fair and transparent manner, as per the Board's decision at its meeting held on August 28, 2025. The results will be communicated to BSE Limited and published on the Company's website at www.metainfotech.com , on the BSE website at www.bseindia.com , and on NSDL's website at https://evoting.nsdl.com . The postal ballot notice has been signed by Mansi Sheth, Company Secretary and Compliance Officer (Membership No. A28359), from the Company's registered office at Unit 118/119, First Floor, Ackruti Star, MIDC, Andheri (E), Mumbai – 400 093.

Source: None/Company/INE162901016/ee7943bd-a737-4dd2-b4a0-5c7e4b2772d4.pdf