BGIL Films & Technologies Limited has issued a clarification to the Bombay Stock Exchange (BSE) regarding a recent filing that was inadvertently submitted under an incorrect category. The company addressed concerns about an additional information filing made on December 16, 2025, emphasizing that it does not constitute any change in management structure.

Filing Details and Background

The clarification pertains to additional information about Mr. Prem Kumar Sitaram Mahato, an Independent Director of the company who was appointed on September 5, 2025. The company received a BSE email dated December 15, 2025, requesting the re-submission of additional information about the aforementioned director.

Submission Error and Clarification

While complying with BSE directions, the company submitted the additional information through the listing center but acknowledged that the submission was made through the wrong tab under the sub-head 'Change in Management.' This categorization error led to potential confusion about the nature of the filing.

The company has explicitly clarified that this additional filing does not constitute any change in management. It represents merely an additional submission made in accordance with BSE guidelines as requested by the exchange. The filing was procedural in nature and related to providing supplementary information about an existing director rather than announcing any management restructuring.

Regulatory Compliance

The clarification was issued under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has requested BSE to take note of the clarification and place it on record to avoid any misinterpretation regarding the company's management structure.

This incident highlights the importance of accurate categorization when submitting regulatory filings and demonstrates the company's commitment to maintaining transparency with stakeholders about the true nature of its submissions to stock exchanges.

Bgil Films & Technologies Limited has officially withdrawn its application for BSE's in-principle approval regarding a significant convertible equity warrants issue worth ₹79.12 crores. The Board of Directors made this decision on December 15, following prolonged approval delays that led to investor withdrawals.

Original Warrant Issue Details

The company's initial proposal involved issuing convertible equity warrants to non-promoter investors under a preferential basis arrangement. The key parameters of the withdrawn application were:

Timeline of Events

The warrant issue proposal followed a structured approval process before its eventual withdrawal:

• September 5: Board of Directors approved the convertible equity warrants issuance
• September 11: Application filed with BSE Limited seeking in-principle approval
• September 30: Shareholders approved the proposal at the 36th Annual General Meeting
• December 15: Board approved withdrawal of the application

Reasons for Withdrawal

The company cited specific challenges that led to the application withdrawal. Following the initial filing, BSE raised multiple queries to which the company provided timely and complete responses. However, the prolonged pendency of the in-principle approval process created significant complications.

Due to extended delays, several proposed investors expressed their inability to wait further and withdrew their investment commitments. This development left the company unable to proceed with the preferential issue in its existing form, necessitating the formal withdrawal.

Future Fund-Raising Plans

Bgil Films & Technologies has indicated its intention to explore alternative fund-raising mechanisms. The company stated it is currently evaluating various options and may approach the exchange again once new investor commitments are finalized. This suggests the company's capital requirements remain unchanged despite the current setback.

Regulatory Compliance

The withdrawal notification was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has submitted a formal withdrawal letter to BSE Limited regarding the discontinued application, ensuring proper regulatory adherence throughout the process.