Deep Health AI India Limited , formerly known as Deep Diamond India Limited, announced major corporate restructuring decisions following its board meeting conducted on February 24, 2026. The meeting, held through video conferencing from 03:00 P.M. to 07:15 P.M., addressed several critical organizational changes that will reshape the company's operational framework.

Registered Office Relocation Approved

The board approved the relocation of the company's registered office from one state to another, marking a significant geographical shift in its corporate presence. The move involves transferring operations from the current Mumbai location to Udaipur, Rajasthan, pursuant to Order dated February 09, 2026, received from Regional Director, Western Region, Mumbai.

Authorized Share Capital Enhancement

The board approved a substantial increase in the company's authorized share capital, representing a significant expansion of its financial capacity. This enhancement requires shareholder approval and will be subject to postal ballot proceedings.

Postal Ballot Notice Authorization

The board approved the postal ballot notice to seek shareholder approval for the authorized share capital increase. The company will dispatch this notice to shareholders while simultaneously submitting it to stock exchanges in compliance with SEBI Listing Regulations.

Corporate Identity Transformation

The board took note of the official certification of the company's name change, which was received from the Registrar of Companies, Mumbai. This certification formalized the company's transformation from its previous identity to its current AI-focused branding.

Board Meeting Details

The comprehensive board meeting was conducted under Regulation 30 of the SEBI (Listing Obligations and Disclosures Requirements), 2015. The meeting was digitally signed and approved by Managing Director Narayan Singh Rathore (DIN: 10900646) from the company's Udaipur location.

These developments indicate the company's strategic pivot toward artificial intelligence and healthcare technology sectors, supported by enhanced capital structure and operational relocation to Rajasthan. The postal ballot process will determine shareholder support for the proposed financial restructuring, while the office relocation reflects the company's commitment to establishing operations in Udaipur.

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.