Deep Health AI India Limited , formerly known as Deep Diamond India Limited, has issued a comprehensive postal ballot notice to shareholders seeking approval for increasing its authorized share capital. The company announced the postal ballot process following its board meeting conducted on February 24, 2026, with remote e-voting scheduled from February 27 to March 28, 2026.

Postal Ballot Notice and E-Voting Schedule

The company dispatched the postal ballot notice on February 26, 2026, to BSE Limited and all registered shareholders through electronic mode. The notice seeks shareholder approval for increasing the authorized share capital through an ordinary resolution.

Authorized Share Capital Enhancement

The primary resolution seeks substantial enhancement of the company's authorized share capital, representing a significant expansion of its financial capacity. This increase requires shareholder approval through the postal ballot process and will involve consequential alteration in the Capital Clause of the Memorandum of Association.

Corporate Restructuring Developments

The postal ballot notice follows the board's earlier approval of the company's registered office relocation from Mumbai to Udaipur, Rajasthan. The relocation was authorized pursuant to Order dated February 09, 2026, received from Regional Director, Western Region, Mumbai.

Regulatory Compliance and Documentation

The postal ballot process complies with Section 108 and 110 of the Companies Act, 2013, and Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company has engaged NSDL for facilitating remote e-voting, with Dr. Ronak Jhuthawat appointed as the scrutinizer for conducting the voting process.

The proposed increase in authorized share capital aims to provide adequate headroom for meeting the company's future business requirements, growth initiatives, and strategic opportunities. The resolution, if approved, will be deemed passed on March 28, 2026, being the last date for e-voting, marking a significant milestone in the company's transformation toward AI and healthcare technology sectors.

Deep Diamond India Limited has submitted its quarterly compliance report to BSE Limited, disclosing deviations and variations in the utilization of funds raised through its rights issue for the quarter ended December 31, 2025. The report, filed under Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, reveals significant changes in the company's fund deployment strategy.

Rights Issue Details and Fund Raising

The company successfully raised ₹39,97,76,000 through a rights issue completed on October 06, 2025. The funds were originally intended for specific corporate purposes, including the acquisition of Oasis Ceramics Private Limited and general corporate expenses.

Fund Utilization Deviations

The company reported deviations in fund utilization, which required shareholder approval received on January 22, 2026. The primary deviation involves a strategic shift from the original acquisition plan to equity investments in other companies.

Key Changes in Fund Allocation

Specific Deviations and Explanations

The company identified two main areas of deviation:

Investment Strategy Change: Rights issue proceeds totaling ₹22.50 crores were utilized towards investment in equity shares, representing a variation from the original acquisition objective. The remaining amount of ₹14.98 crores from the modified allocation has been allocated for future use, constituting an approved change in object.

Excess Issue Expenses: The company exceeded its original allocation for issue expenses by ₹13.86 lakhs, representing a 39.60% deviation from the planned ₹35.00 lakhs to actual utilization of ₹48.86 lakhs.

Regulatory Compliance and Approvals

The audit committee has reviewed and approved both the variation and deviation, subject to ratification and approval by the company's shareholders. The company received the necessary shareholder approval on January 22, 2026, legitimizing the changes in fund utilization strategy.

Audit Committee Comments: The committee approved the variations subject to shareholder ratification, while auditors provided no additional comments on the deviations.

Corporate Governance

The statement was signed by Narayan Singh Rathore, Managing Director (DIN: 10900646), and filed from the company's corporate office in Udaipur on February 13, 2026. The company maintains its registered office in Mumbai and operates under CIN: L24100MH1994PLC082609.

The remaining funds from the modified general corporate purposes allocation of ₹7.61 crores were either utilized towards the modified investment object or kept in bank deposits for future deployment according to the revised objectives approved by shareholders.