Bijoy Hans Limited has informed stock exchanges about receiving reclassification requests from four members of its promoter group who seek to transition from promoter category to public category under SEBI regulations. The company notified the Bombay Stock Exchange and Calcutta Stock Exchange on February 24, 2026, regarding these applications submitted under Regulation 31A of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Promoter Group Members Seeking Reclassification

The reclassification requests were submitted by four individuals on February 23, 2026:

Share Transaction Details

The reclassification requests follow a significant share transaction completed under a Share Purchase Agreement dated December 26, 2024. Three of the applicants - Ashim Kumar Patawari, Ashok Kumar Patawari, and Shweta Patawari - sold their shareholdings to a consortium of acquirers.

The acquirers included U G Patwardhan Services Private Limited, Mr. Kaushal Uttam Shah, Agri One India Ventures LLP, and Mr. Shantanu Surpure. This transaction triggered an open offer under SEBI Substantial Acquisition of Shares and Takeovers Regulations, 2011.

Regulatory Compliance and Undertakings

Each applicant has provided detailed undertakings confirming their eligibility for reclassification under SEBI regulations. The key compliance conditions include:

• No holding of more than 10% of total voting rights
• No exercise of control over company affairs
• No special rights through formal or informal arrangements
• No representation on the board of directors
• No role as key managerial personnel
• Clean regulatory record with no pending actions

The applicants have committed to maintain compliance with specified SEBI conditions for at least three years from the reclassification date. Mrs. Sushila Devi Patwari specifically stated that she holds no shares in the company and has no direct or indirect connection with company activities.

Next Steps and Regulatory Process

Bijoy Hans Limited will undertake necessary steps to process these reclassification requests in compliance with Regulation 31A of the Listing Regulations. The company has submitted the original request letters as annexures to its stock exchange intimation. The reclassification process requires approval from relevant stock exchanges where the company's shares are listed.

Company Secretary Guinea Agrawal signed the intimation letter on behalf of Bijoy Hans Limited, confirming receipt of all four reclassification requests and the company's commitment to follow prescribed regulatory procedures.

Bijoy Hans Limited has secured in-principle approval from the Bombay Stock Exchange (BSE) for a significant preferential share issue worth approximately ₹50.65 crore. The approval, received on February 17, 2026, allows the company to issue equity shares to both promoters and non-promoters through a share swap arrangement.

Share Issue Details

The BSE has approved the issuance of substantial equity shares under specific terms and conditions:

Regulatory Compliance Requirements

The BSE approval comes with stringent compliance conditions that Bijoy Hans Limited must fulfill. The company must ensure the issue and allotment strictly adheres to provisions of the Companies Act 2013, Securities Contracts Regulation Act 1956, SEBI Act 1992, and the Depositories Act 1996.

Additionally, the company must comply with Chapter V of SEBI ICDR Regulations 2018 and SEBI LODR Regulations 2015. The exchange has emphasized the need for strengthening internal controls to monitor trades executed by proposed allottees before share allotment.

Trading Restrictions and Undertakings

BSE has mandated specific trading restrictions to ensure regulatory compliance:

• Company must obtain undertakings from allottees confirming no intra-day trading in company scrip
• Allottees cannot sell company shares until the allotment date
• Full responsibility lies with Bijoy Hans Limited to verify and ensure compliance
• Non-compliance may impact the listing of issued shares

Post-Approval Timeline

The company faces critical timeline requirements following the share allotment. According to SEBI ICDR Regulations and SEBI circular dated June 21, 2023, Bijoy Hans Limited must submit a listing application within twenty days from the allotment date. Failure to meet this deadline will attract penalties as specified in the regulatory circular.

Important Disclaimers

The BSE has clarified that this in-principle approval should not be construed as approval for listing the securities. The company must separately comply with all listing requirements and obtain necessary statutory approvals. The exchange reserves the right to withdraw approval if submitted information proves incomplete, incorrect, misleading, or contravenes applicable regulations.