iStreet network Limited has announced the immediate resignation of Independent Director Mr. Bhargeshwar Banerji, effective March 07, 2026. The company informed BSE Limited about this board change in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Details

The resignation was communicated through an email dated March 07, 2026, with Mr. Banerji stepping down from his position with immediate effect. Company Secretary and Compliance Officer Pratibha Ranka signed the official intimation to the stock exchange.

Regulatory Compliance

The company has fulfilled its disclosure obligations by submitting the required documentation to BSE Limited, including the resignation letter as Annexure A. The communication was addressed to the Department of Corporate Services at BSE's Phiroze Jeejeebhoy Towers in Mumbai.

Director's Communication

In his resignation letter addressed to the Chairperson, Mr. Banerji stated that due to personal commitments, he would not be able to continue serving on the board of iStreet Network Limited. He specifically requested that the company inform the Ministry of Corporate Affairs (MCA), stock exchanges, and other relevant authorities immediately about his departure.

Company Information

The official communication was signed by Pratibha Ranka, who serves as Company Secretary and Compliance Officer. The company is headquartered at Unit No. A-2, 2nd Floor, D J House, Old Nagardas Road, Andheri East, Mumbai - 400069, and operates under the corporate identification number L62013MH1986PLC040232.

iStreet Network Limited has successfully converted 18,33,334 warrants into equity shares through a board resolution passed on March 07, 2026. The conversion represents the exercise of warrant holders' rights under SEBI ICDR Regulations, 2018, generating proceeds of ₹1,10,00,004 for the company.

Warrant Conversion Details

The conversion involved warrants with a face value of ₹4 each, converted at an exercise price of ₹4.5 per warrant. This exercise price represents 75% of the original warrant issue price of ₹6 per warrant. The warrants were originally allotted on November 28, 2025, with warrant holders having paid 25% (₹1.5 per warrant) at the time of initial allotment.

Allottee Breakdown

The warrant conversion involved two public category investors, with the allotment distributed as follows:

All warrant holders converted their entire holdings, with 100% subscription achieved for the conversion process.

Impact on Share Capital

The successful conversion has resulted in a significant increase in the company's paid-up equity share capital. The capital structure transformation reflects the company's ability to attract and retain investor interest through its warrant instrument.

The newly allotted equity shares rank pari-passu with existing equity shares in all respects, including dividend rights. This ensures equal treatment of all shareholders and maintains the uniform structure of the company's equity base.

Regulatory Compliance

The conversion process was conducted in full compliance with SEBI regulations, specifically under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company has fulfilled all disclosure requirements as per SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, ensuring transparency in the allotment process.