Kesar India Limited has announced the incorporation of a new step-down subsidiary in the United Arab Emirates as part of its business expansion strategy. The company informed BSE Limited on March 10, 2026, about the establishment of Oriole Trading FZ-LLC in Ras Al Khaimah, UAE.

Subsidiary Structure and Ownership

The new subsidiary was incorporated on February 27, 2026, through Kesar Middle East – FZCO, Dubai, which is a wholly owned subsidiary of Kesar India Limited. This structure makes Oriole Trading FZ-LLC a step-down subsidiary of the parent company.

Business Focus and Operations

Oriole Trading FZ-LLC has been established with specific business objectives focused on the technology sector. The company's primary activities will include:

• Trading of computer equipment
• Electronic devices trading
• Related requisites and accessories

The subsidiary is yet to commence its business operations and currently reports nil turnover. The incorporation aligns with Kesar India Limited's strategy to expand its business presence in international markets.

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Toshiba Jain signed the disclosure document, ensuring all required details were provided to the stock exchange.

Strategic Implications

The establishment of this UAE-based subsidiary represents Kesar India Limited's commitment to expanding its operations in the Middle East region. The focus on computer equipment and electronic devices trading suggests the company is leveraging opportunities in the growing technology market in the UAE.

The transaction does not fall under related party transactions, and no governmental or regulatory approvals were required for the incorporation. The subsidiary's establishment provides Kesar India Limited with a strategic foothold in the UAE market for future business development.

Kesar India Limited has successfully completed the allotment of 5,74,319 equity shares through the conversion of fully convertible warrants, marking a significant capital raising milestone for the company. The Preferential Issue Committee of the Board of Directors approved this allotment during their meeting held on February 28, 2026.

Warrant Conversion Details

The allotment involves the conversion of 5,74,319 fully convertible warrants that were originally issued on September 18, 2025. Each equity share carries a face value of ₹10 and was allotted at an issue price of ₹350 per share through preferential allotment on a private placement basis to non-promoter investors.

Investor Allocation Breakdown

The warrant conversion was distributed among 11 non-promoter investors, with Gunjan Agarwal receiving the largest allocation. The detailed breakdown shows varied investment levels across different investor categories:

Impact on Share Capital

Following the completion of this allotment, Kesar India Limited's capital structure has been strengthened significantly. The company's paid-up equity share capital has increased to ₹28,57,32,290, now comprising 2,85,73,229 equity shares of ₹10 face value each.

Committee Meeting Details

The Preferential Issue Committee meeting was conducted on February 28, 2026, commencing at 07:45 P.M. and concluding at 08:00 P.M. The meeting was presided over by Managing Director Sachin Gopal Gupta, who digitally signed the approval documents. This warrant conversion represents the successful completion of the fundraising initiative that began with the original warrant issuance in September 2025, demonstrating investor confidence in the company's growth prospects.