Dulcee Accessories Private Limited has submitted a revised disclosure to BSE regarding its substantial acquisition in swojas foods Limited, addressing queries raised by the exchange regarding missing acquisition details in the original filing.

Revised Disclosure Details

The revision was necessitated following a BSE query dated March 10, 2026, which highlighted that the mode of acquisition was not printed in the original disclosure submitted on December 23, 2025, due to an oversize issue. The company has now provided complete details under Regulation 29(1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Acquisition Summary

Shareholding Pattern

Prior to this acquisition, Dulcee Accessories Private Limited held no shares, voting rights, or warrants in Swojas Foods Limited. The acquisition represents the company's first investment in the target company.

Post-Acquisition Holdings:

Company Details

Dulcee Accessories Private Limited, based in Mumbai, Maharashtra, does not belong to the promoter or promoter group of Swojas Foods Limited. The disclosure was signed by Nirman Daxesh Patel, Director (DIN: 11373838), on March 10, 2026.

Share Capital Information

Swojas Foods Limited's equity share capital remains unchanged at 30,962,650 equity shares of Rs. 10 each before and after the acquisition. However, the total diluted share capital, assuming full conversion of outstanding convertible securities and warrants, stands at 5,69,47,150 equity shares of Rs. 10 each.

The revised disclosure ensures compliance with regulatory requirements and provides complete transparency regarding the substantial acquisition transaction.

Swojas Foods Limited has announced the conversion of 20,00,000 warrants into equity shares following a board meeting held on March 06, 2026. The conversion represents a significant milestone in the company's capital restructuring initiative that began in December 2025.

Board Meeting Outcome and Regulatory Compliance

The board meeting, which commenced at 05:00 PM IST and concluded at 05:35 PM IST, approved the conversion under Regulation 30 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015. This development follows the company's earlier disclosure dated December 22, 2025, when Swojas Foods had allotted 2,59,84,500 convertible warrants following shareholder approval at the Extra Ordinary General Meeting held on December 03, 2025.

Warrant Conversion Details

The board approved the conversion of warrants held by non-promoter investor VICKY R JHAVERI HUF, who exercised the option to convert 20,00,000 warrants out of their total holding of 33,32,000 warrants. The conversion was executed at the predetermined issue price of ₹16.50 per share, which includes a premium of ₹6.50 per share over the face value of ₹10.00.

Financial Impact on Share Capital

The warrant conversion has resulted in a substantial increase in the company's paid-up equity share capital. The exercise price of ₹12.375 per warrant represents 75% of the original issue price, as warrant holders had already paid 25% during the initial allotment in December 2025.

SEBI Regulation 29(2) Disclosure Filing

Following the warrant conversion, VICKY R JHAVERI HUF filed a regulatory disclosure on March 09, 2026, pursuant to SEBI Regulation 29(2) regarding substantial acquisition of shares. The disclosure was submitted to both BSE Limited and Swojas Foods Limited, providing detailed information about the shareholding changes.

Regulatory Approvals and Next Steps

The allotment received BSE's in-principle approval through letter reference LOD/PREF/GB/FIP/1322/2025-26 dated December 08, 2025. The newly allotted equity shares will rank pari-passu with existing equity shares in all respects. The company plans to apply for listing and trading approval from the stock exchange for the newly issued shares in due course.

VICKY R JHAVERI HUF, categorized as a non-promoter investor, retains 13,32,000 warrants available for future conversion. The successful conversion demonstrates investor confidence in the company's growth prospects and provides additional capital for business operations and expansion plans.