Maxgrow India Limited has officially relocated its registered office within Mumbai, marking a strategic administrative move for the BSE-listed company. The relocation, effective January 2, 2026, was approved by the board of directors during their meeting held on December 24, 2025.

Office Relocation Details

The company has moved its registered office from its previous location in Mumbai's Fort area to a new facility in Ghatkopar East. The transition represents an intra-city relocation within the local limits of Mumbai.

Company Profile and Financial Standing

Maxgrow India Limited, formerly known as Frontline Business Solutions Limited, operates as a public company limited by shares under the non-government category. The company was incorporated on January 12, 1994, and maintains its listing on BSE with scrip code 521167.

Compliance and Corporate Status

The company maintains active compliance status with the Ministry of Corporate Affairs and operates under the jurisdiction of ROC Mumbai in the Western Region. According to the latest available records, the company's last Annual General Meeting was held on September 30, 2020, with the balance sheet date as March 31, 2020.

Administrative Updates

The relocation notice was formally communicated to BSE Limited's Listing Compliance Department on January 23, 2026, by Managing Director Shivkumar Pasi. The company has updated its master data with the Ministry of Corporate Affairs to reflect the new registered office address, ensuring all regulatory requirements are met for the office transition.

Maxgrow India Limited, formerly known as Frontline Business Solutions Limited, is considering a strategic move into the mining sector, focusing on gold mining assets in Tanzania. The company's Board of Directors met on September 17 to review and discuss future growth opportunities in new sectors.

Potential Entry into Mining Sector

During the board meeting, Maxgrow India evaluated the possibility of entering the mining industry through potential acquisition and restructuring opportunities. The company is particularly interested in gold mining assets located in Tanzania, demonstrating its ambition to diversify its business portfolio and expand into international markets.

Ongoing Discussions and Evaluations

The board noted that both preliminary and advanced level discussions are currently underway regarding the Tanzanian gold mining assets. These discussions aim to assess the feasibility, valuations, and regulatory requirements associated with the potential acquisition.

Planned Steps for Implementation

To facilitate this potential expansion, Maxgrow India is contemplating several key steps:

1. Incorporation of a wholly-owned subsidiary to house the proposed mining business.
2. Appointment of a SEBI-registered Merchant Banker to carry out valuation and provide a fairness opinion, as required by applicable SEBI circulars.

Cautionary Note

While the company is actively formulating its strategy, the implementation of this plan is subject to several pre-conditions, including:

• Transfer of mining assets to an overseas holding company
• Receipt of valuation and fairness reports
• Obtaining necessary regulatory approvals

Maxgrow India emphasized that these evaluations are still in the preliminary stages and remain subject to customary due diligence, valuation, and applicable approvals.

Regulatory Compliance

The company has stated its commitment to making further disclosures in compliance with SEBI (LODR) Regulations, 2015 and SEBI Master Circular SEBI/HO/CFD/POD-2/P/CIR/2023/93 dated June 20, 2023, as material developments occur.

Shivkumar Pasi, Managing Director of Maxgrow India Limited, signed off on the regulatory filing, indicating the board's involvement in this potential strategic shift.

As Maxgrow India explores this new venture, investors and market watchers will be keen to see how the company's potential entry into the mining sector unfolds and its impact on future growth trajectory.