Krystal Integrated Services Limited has announced the board approval for incorporating a Special Purpose Vehicle (SPV) in partnership with Advaita Enterprises International Private Limited. The decision was taken during a board meeting held on February 24, 2026, marking a strategic move into the renewable energy sector.

Board Meeting Outcome

The board meeting, which commenced at 12:00 noon and concluded at 12:31 p.m., was conducted in compliance with Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company has formally notified both BSE Limited and National Stock Exchange of India Limited about this material development.

SPV Formation Details

The proposed entity, tentatively named "Advait Krystal Solar Energy SPV Private Limited," will be incorporated as a joint venture between the two companies. Upon incorporation, the SPV will become an associate company of Krystal Integrated Services Limited.

Business Focus and Operations

The SPV will operate in the solar, wind, and other renewable energy industry with comprehensive business objectives. The entity will focus on producing, generating, transmitting, distributing, and supplying various forms of renewable energy across India and other locations.

Key Business Activities

The proposed SPV will undertake multiple renewable energy projects under various investment models:

• Project Development: Build, Own, Operate, Maintain, and Transfer (BO, BOO, BOOT) structures
• Technical Services: Engineering, procurement, construction, supply, installation, and commissioning
• Energy Storage Solutions: Battery energy storage systems, thermal storage, and advanced storage technologies
• Consultancy Services: Feasibility studies, detailed design, equipment qualification, and factory acceptance tests

Partnership Structure

Advaita Enterprises International Private Limited, formerly known as e-Governance Solution Private Limited, will serve as the holding company of the proposed SPV. The partnership brings together expertise from both organizations to develop comprehensive renewable energy solutions.

Regulatory Compliance and Approvals

The company has confirmed that no additional governmental or regulatory approvals are required for the incorporation. The disclosure has been made in accordance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026.

Detailed information regarding this development will be available on the company's official website at krystal-group.com, ensuring transparency and accessibility for stakeholders and investors.

Krystal Integrated Services Limited has issued a postal ballot notice seeking shareholder approval for two significant corporate actions through remote e-voting. The company, formerly known as Krystal Integrated Services Private Limited, announced these proposals in its notice dated January 22, 2026.

Key Resolutions for Shareholder Approval

The postal ballot includes two resolutions requiring shareholder consent:

Authorized Share Capital Enhancement

The company proposes to increase its authorized share capital from Rs. 15,00,00,000/- (Rupees Fifteen Crores only) divided into 1,50,00,000 (One Crore Fifty Lakh) equity shares of Rs. 10/- each to Rs. 19,00,00,000/- (Rupees Nineteen Crores only) divided into 1,90,00,000 (One Crore Ninety Lakh) equity shares of Rs. 10/- each. This increase will facilitate the company's proposed fund-raising activities, including the planned QIP issuance.

The current issued, subscribed and paid-up share capital stands at Rs. 13,97,19,520/- (Rupees Thirteen Crore Ninety-Seven Lakh Nineteen Thousand Five Hundred and Twenty only) divided into 1,39,71,952 equity shares of Rs. 10/- each.

Qualified Institutions Placement (QIP) Proposal

The company seeks approval to raise capital through a QIP for an amount aggregating up to Rs. 300 Crores (Rupees Three Hundred Crores only) in one or more tranches. The QIP will involve issuance of equity shares to eligible Qualified Institutional Buyers (QIBs) in accordance with SEBI regulations.

Proposed Use of QIP Proceeds

The net proceeds from the QIP will be deployed for:

• Funding working capital requirements of the company
• Investment in subsidiaries through equity, preference capital, or debt
• Prepayment and/or repayment of outstanding borrowings from banks and financial institutions
• Funding inorganic growth through acquisitions and strategic initiatives
• General corporate purposes

E-voting Schedule and Process

The remote e-voting process details are as follows:

Compliance and Regulatory Framework

The postal ballot is conducted in compliance with Regulation 44 of SEBI Listing Regulations and provisions of Sections 108 and 110 of the Companies Act, 2013. The voting is restricted to electronic mode only, with no physical postal ballot forms being distributed to shareholders.

Shareholders whose email addresses are registered with the company's Registrar and Share Transfer Agent, MUFG Intime India Private Limited (formerly Link Intime India Private Limited), or depositories will receive the notice electronically. The results will be declared within the stipulated time under applicable laws and communicated to BSE Limited and National Stock Exchange of India Limited, where the company's shares are listed.

The Board of Directors recommends both resolutions for shareholder approval, with the company secretary Manishkumar Sangani overseeing the compliance aspects of the postal ballot process.