Advait Energy Transitions Limited has issued a comprehensive clarification to BSE Limited and National Stock Exchange of India Limited regarding a media report about a turnkey project order from Dakshin Gujarat Vij Company Limited (DGVCL). The company has categorically stated that the media report is misleading and confirmed that no new order has been received from DGVCL, emphasizing that the project disclosure was already made in December 2025.

Company's Response to Media Report

Advait Energy Transitions has strongly refuted claims in the media report, clarifying that no new order or contract was awarded by DGVCL. The company emphasized that the referenced project had already been disclosed to stock exchanges and that the media coverage was misleading regarding the timeline and nature of the order.

Timeline of Project Events

The company provided a detailed chronology of events to clarify the actual sequence of the DGVCL project award:

Advait Energy emphasized that it was the lead bidder with 95% participation in the project, while HEC Infra Projects Limited had minimal participation of only 5%. Due to this minimal involvement, HEC's name was not specifically mentioned in the earlier disclosure made to the stock exchanges.

Regulatory Compliance and Material Impact

The company addressed specific queries raised by the stock exchanges, confirming full compliance with regulatory requirements. Advait Energy stated that no material information had been withheld from the stock exchanges and that it has maintained complete transparency in accordance with SEBI (LODR) Regulations, 2015.

Regarding material impact, the company assessed that the media article does not create any price sensitivity movement, as the referenced work order had already been announced and the market had factored it in. The company confirmed that no regulatory or legal proceedings have been initiated in relation to the matter.

Management Statement

The clarification was signed by Deepa Fernandes, Company Secretary & Compliance Officer, and submitted to both BSE Limited and National Stock Exchange of India Limited. The company reiterated its commitment to regulatory compliance and emphasized that it has no direct or indirect exposure related to the misleading media publication.

Advait Energy Transitions Limited has successfully completed the allotment of 5,630 equity shares through warrant conversion while simultaneously forfeiting an equal number of unconverted warrants. The Board of Directors approved this corporate action through a circular resolution passed on March 04, 2026.

Warrant Conversion Details

The company converted 5,630 warrants into equity shares at an issue price of ₹1776 per share, including a premium of ₹1766. This conversion was part of the original warrant issuance of 1,41,591 convertible warrants that were allotted on September 06, 2024.

Allottee Information

The equity shares were allotted to two non-promoter investors who exercised their conversion rights within the stipulated timeframe.

Impact on Share Capital

Following the allotment, the company's issued and paid-up equity share capital has increased to ₹10,94,30,110, consisting of 1,09,43,011 equity shares of ₹10 each. The newly allotted shares rank pari-passu with existing equity shares in all respects.

Warrant Forfeiture

Simultaneously, the company forfeited 5,630 warrants from holders who failed to exercise their conversion option within the 18-month deadline ending March 04, 2026.

The forfeiture was executed in accordance with Regulation 169(3) of Chapter V of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. The amounts received on these forfeited warrants will be retained by the company as per regulatory provisions.