Callista Industries Limited has announced the resignation of Mrs. Bhawana Chouhan from her position as Independent Director, effective from the close of business hours on January 21, 2026. The resignation was submitted due to personal reasons, as communicated to BSE Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Director Details and Committee Impact

Mrs. Bhawana Chouhan, holding Director Identification Number (DIN) 11328822, submitted her resignation letter on January 21, 2026. Following her resignation, she will also cease to be a member of the company's Audit Committee.

Regulatory Compliance and Disclosures

The company has provided comprehensive details as required under Schedule III – Para A(7B) of Part A of the Listing Regulations, in compliance with SEBI Master Circular dated November 11, 2024, and SEBI Circular dated December 31, 2024. Mrs. Chouhan confirmed in her resignation letter that there are no material reasons for her resignation other than the personal circumstances mentioned.

Additional Corporate Information

Callista Industries Limited, formerly known as CHPL Industries Limited, operates under CIN L65921GJ1989PLC098109. The company's registered address is located in Bardoli, Surat, with its corporate address in Mumbai, Maharashtra. The resignation documentation has been uploaded to the company's website at callistaindustries.com as part of transparency requirements.

Director's Confirmation

In her resignation letter, Mrs. Chouhan expressed gratitude to the board of directors for her association during her tenure as Independent Director. She specifically confirmed that there are no other material reasons for her resignation beyond the personal situations mentioned, providing the necessary assurance required under regulatory guidelines.

Callista Industries Limited (CIN: L65921GJ1989PLC098109) has announced a revision to its preferential allotment plan, following board meetings held on November 14 and December 10. The company has made significant adjustments to its convertible warrant and equity share allocation strategy after receiving feedback from BSE Limited on its in-principle approval application.

Timeline of Board Decisions

The revision process involved two key board meetings:

Key Changes in Allocation Structure

The Board has approved significant modifications to the previously announced preferential issue:

This revision represents a strategic shift in the company's capital raising approach, reducing convertible warrants while significantly increasing equity shares allocated to non-promoters.

Revised Warrant Allocation Details

The updated convertible warrant distribution among key allottees is as follows:

Equity Share Allocation to Non-Promoters

The company has substantially revised its equity share allocation to non-promoters:

Regulatory Compliance and Next Steps

The company will issue a corrigendum to the Notice of the Annual General Meeting, specifically addressing resolutions 6 and 7, along with explanatory statements and other consequential changes. The revised matters as recommended by the Board will be put forward for shareholder approval. The preferential issue will be conducted in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Financial Context

Callista Industries' financial position shows some concerning trends that may have influenced this capital restructuring:

These financial indicators suggest the company may be addressing capital structure challenges through this revised preferential issue. The board meeting commenced at 1:30 PM and concluded at 2:30 PM on December 10, with Managing Director Rashmi Ravi Sharma (DIN: 06618645) signing off on the decisions.