Wealth Mine Networks Limited has submitted a corrigendum to the Letter of Offer and revised schedule for the open offer acquisition of Nirbhay Colours India Limited equity shares, addressing delays in the commencement of the offer period and implementing interest compensation measures.

Corrigendum Submission and Regulatory Compliance

Wealth Mine Networks Limited formally submitted the corrigendum to multiple regulatory authorities and stakeholders. The submission was addressed to Nirbhay Colours India Limited, the Securities and Exchange Board of India (SEBI), and BSE Limited, informing them of the revised schedule due to delays in the offer commencement.

The corrigendum was published in multiple newspapers including Jansatta (Hindi), Financial Express (English and Gujarati), and Navshakti (Marathi) to ensure comprehensive public disclosure.

Revised Schedule of Activities

The corrigendum introduces significant changes to the original timeline, with the most notable being the delay in the offer opening date. The revised schedule maintains regulatory compliance while accommodating operational requirements.

The public announcement date of December 12, 2025, and the detailed public statement publication date of December 19, 2025, remain unchanged from the original schedule.

Interest Compensation Mechanism

Due to the four-day delay in the offer opening, the acquirers have committed to paying interest compensation to participating shareholders. This compensation mechanism ensures fairness and regulatory compliance under SEBI regulations.

Independent Directors Committee Recommendation

The Committee of Independent Directors, chaired by Ms. Sonal Gandhi, has provided its recommendation on the open offer. The committee comprises three members who have evaluated the offer's fairness and reasonableness.

The committee confirmed that the offer price of ₹10 per equity share complies with SEBI (SAST) Regulations 8(1) and 8(2), and recommended that shareholders independently evaluate the offer based on their individual circumstances.

Regulatory Framework and Compliance

The corrigendum ensures full compliance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011. The revised schedule accommodates regulatory requirements while maintaining transparency and investor protection standards.

Wealth Mine Networks Limited, serving as the manager to the offer with SEBI registration number INM000013077, has confirmed that all statutory requirements and escrow arrangements remain in place to fulfill the acquirers' obligations under the revised timeline.

Nirbhay Colours India Limited has successfully completed its corporate name change process, officially becoming Craftroot Retail Limited with effect from December 17, 2025. The company received formal approval from the Ministry of Corporate Affairs through a Certificate of Incorporation pursuant to change of name issued on the same date.

Official Name Change Details

The transformation marks a significant corporate milestone for the company, which was originally incorporated as Parth Industries Limited before becoming Nirbhay Colours India Limited. The Ministry of Corporate Affairs, through its Central Processing Centre in Manesar, Haryana, issued the official certificate confirming the name change.

Regulatory Compliance and Documentation

The company has fulfilled all regulatory requirements for the name change process. The Certificate of Incorporation was approved by Mitika Raja from the Central Processing Centre and digitally signed by the Registrar of Companies under the Companies (Registration Offices and Fees) Rules, 2014.

As part of the name change process, the company's Memorandum and Articles of Association have been altered to reflect the new corporate identity. The registered office address remains unchanged at 61/201, 2nd Floor, Prerak Apartment, Near Wagh Bakri Tea Depot, Gujarat College Road, Ahmedabad-380006, Gujarat.

Stock Exchange Procedures

Craftroot Retail Limited has informed BSE Limited about the name change through proper regulatory channels under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company plans to file the final application with BSE Limited for updating stock exchange records and enabling equity share trading under the new name.

Legal Obligations and Stakeholder Impact

The certificate clarifies that the name change does not affect the rights and liabilities of stakeholders. However, the company must display its old name alongside the new name for a period of two years at all locations where it is required to display its corporate name, as mandated under Section 12 of the Companies Act.

Stakeholders are advised to verify the company's latest status and view public documents on the Ministry of Corporate Affairs website at www.mca.gov.in/MCA21 . The name change represents a strategic corporate decision while maintaining continuity in business operations and stakeholder relationships.