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JASH ENGINEERING LIMITED Capital/Financing Update 2024

Jan 16, 2024

59194_rns_2024-01-16_4af588fc-7be3-4972-a502-7e9066097b91.pdf

Capital/Financing Update

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January 16, 2024

National Stock Exchange of India Limited

Exchange Plaza, C-1, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai – 400 051 Symbol : JASH

Sub: Outcome of Board Meeting held on Tuesday, January 16, 2024 under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”)

Dear Sir/Madam,

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“ SEBI Listing Regulations ”), we hereby inform you that the Board of Directors of Jash Engineering Limited (the “Company”) at their meeting held today i.e. Tuesday, January 16, 2024 has approved the following:

  1. To issue and allot 15,000 Convertible Warrants (“ Warrants ”), each Warrant convertible into 1(one) Equity Share of face value of Rs. 10/- each (Rupees Ten only) to one of the Promoter, on a preferential basis in accordance with Chapter V of the SEBI ICDR Regulations, as amended, and other applicable laws, at a price of Rs. 1527.50 /- (Rupees One Thousand Five Hundred Twenty Seven and Fifty Paisa Only) per Warrant, subject to it being in compliance with the minimum price calculated in accordance with Regulation 164 for Preferential Issue contained in Chapter V of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirement) Regulations, 2018 (“SEBI ICDR Regulations”) as amended, subject to the approval of regulatory/ statutory authorities and the shareholders of the Company.

  2. To issue and allot 15,000 Convertible Warrants (“ Warrants ”), each Warrant convertible into 1(one) Equity Share of face value of Rs. 10/- each (Rupees Ten only) to Non-Promoter, on a preferential basis in accordance with Chapter V of the SEBI ICDR Regulations, as amended, and other applicable laws, at a price of Rs. 1527.50 /- (Rupees One Thousand Five Hundred Twenty-Seven and Fifty Paisa Only) Warrant, subject to it being in compliance with the minimum price calculated in accordance with Regulation 164 for Preferential Issue contained in Chapter V of SEBI ICDR Regulation as amended, subject to the approval of regulatory/ statutory authorities and the shareholders of the Company.

  3. To issue and allot 2,42,215 equity shares of face value of Rs. 10/- each fully paid-up (“ Equity Shares ”) to Non-Promoters, on a preferential basis in accordance with Chapter V of the SEBI ICDR Regulations, as amended, and other applicable laws, at a price of Rs. 1527.50 /- (Rupees One Thousand Five Hundred Twenty Seven and Fifty Paisa Only) per Equity Share, subject to it being in compliance with the minimum price calculated in accordance with Regulation 164 for Preferential Issue contained in Chapter V of SEBI ICDR Regulations as amended, subject to the approval of regulatory/ statutory authorities and the shareholders of the Company.

  4. The Board, in the aforesaid connection, approved the issue of Notice for convening an Extra Ordinary General Meeting (“EGM”) of the shareholders of the Company to be held on Thursday, February 15, 2024 at 11 a.m. through video conferencing or other audio-visual means, to seek necessary approval of the shareholders.

TUSHAR Digitally signed by TUSHAR KHARPA KHARPADE Date: 2024.01.16 DE 15:08:46 +05'30'

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The requisite details as required in terms of SEBI circular SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023 and SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 are provided at Annexure I .

The meeting commenced at 11:00 a.m. and concluded at 15:00 p.m.

This is for your information and records.

Thanking you.

For JASH Engineering Limited

TUSHAR Digitally signed by TUSHAR KHARPADE KHARPADE Date: 2024.01.16 15:09:30 +05'30' Tushar Kharpade Company Secretary & Compliance Officer A 30144

Encl: as above.

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Annexure I

Disclosure of Event and Information pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015 read with SEBI circular SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023 and SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated July 13, 2023.

Issuance of Securities

Sr.
No.		 Particulars of
Securities		 Details of Securities Details of Securities Details of Securities
a) Type
of
securities
proposed to be
issued		 Equity Shares Convertible Warrants
(“Warrants”)		 Convertible Warrants
(“Warrants”)
b) Type of issuance Preferential Issue in
accordance
with
Chapter V of the
SEBI
ICDR
Regulations and other
applicable act/laws		 Preferential
Issue
in
accordance with Chapter V
of
the
SEBI
ICDR
Regulations
and
other
applicable act/laws		 Preferential
Issue
in
accordance with Chapter V
of
the
SEBI
ICDR
Regulations
and
other
applicable act/laws
c) Total number of
securities
proposed to be
issued
or
the
total amount for
which
the
securities will be
issued		 Upto 2,42,215 Equity
Shares at a price of
Rs.
1527.50/-
per
Equity Share in Cash,
for
an
aggregate
consideration
of
Rs. 36,99,83,412.50/-
Upto 15,000 Warrants at a
price of Rs. 1527.50/- per
Warrants in Cash, for an
aggregate consideration of
upto Rs. 2,29,12,500/- to one
of the Promoter.		 Upto 15,000 Warrants at a
price of Rs. 1527.50/- per
Warrants in Cash, for an
aggregate consideration of
upto
Rs.
2,29,12,500/-
Non-Promoter.
In case of preferential issue the listed entity shall disclose the following additional details to the stock
exchange(s):
i. Name
of
Investors		 Enclosed asAnnexure
II
Enclosed asAnnexure III		 Enclosed asAnnexure IV
ii. Post Allotment
of securities -
outcome of the
subscription,
issue
price
/
allotted price (in
case
of
convertibles),		 Not Applicable Not Applicable Not Applicable

TUSHAR Digitally signed by TUSHAR KHARPA KHARPADE Date: 2024.01.16 DE 15:09:50 +05'30'

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number
of
investors;
iii. in
case
of
convertibles
-
intimation
on
conversion
of
securities or on
lapse
of
the
tenure
of
the
instrument;		 Not Applicable 25%
of
the
total
consideration
of
the
Warrants shall be payable at
the time of application and
the
balance
would
be
payable at the time of
conversion of the Warrants
into Equity Shares.
Each Warrant is convertible
into 1 Equity Share and the
conversion can be exercised
at any time within a period of
18 months from the date of
allotment, in one or more
tranches, as the case may be
and on such other terms and
conditions as applicable.		 25%
of
the
total
consideration
of
the
Warrants shall be payable
at the time of application
and the balance would be
payable at the time of
conversion of the Warrants
into Equity Shares.
Each
Warrant
is
convertible into 1 Equity
Share and the conversion
can be exercised at any time
within a period of 18
months from the date of
allotment, in one or more
tranches, as the case may be
and on such other terms and
conditions as applicable.
iv. any cancellation
or termination of
proposal
for
issuance
of
securities
including
reasons thereof.		 Not Applicable Not Applicable Not Applicable

Digitally signed by TUSHAR TUSHAR KHARPADE KHARPADE Date: 2024.01.16 15:10:21 +05'30'

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Annexure II

Sr. No. Name of the Allottees Category No. of Equity Shares
1. Monika Gharware Non-Promoter 32,733
2. Ramesh S Damani Non-Promoter 32,733
3. H J Securities Pvt Ltd Non-Promoter 26,186
4. Bhadra Jayantilal Shah Non-Promoter 19,639
5. MC Jain Infoservices Private Limited Non-Promoter 19,639
6. Bharat Taparia Non-Promoter 13,093
7. Chhattisgarh Investments Limited Non-Promoter 13,093
8. Pushpalata Saraogi Non-Promoter 13,093
9. Astralit Investments Private Limited Non-Promoter 9,819
10. Ajeet Modi Non-Promoter 6,546
11. Kishorkumar Natvarlal Gandhi Non-Promoter 6,546
12. Krishna Anil Chokhani HUF Non-Promoter 6,546
13. Nikhil Vora HUF Non-Promoter 6,546
14. PankajKanakmal Ghia Non-Promoter 6,546
15. Prakash Sevantilal Shah HUF Non-Promoter 6,546
16. Parth Sarda Non-Promoter 6,546
17. Satwani Holdings LLP Non-Promoter 6,546
18. Satish Parasmal Jain Non-Promoter 6,546
19. Mahendra Kumar Surana Non-Promoter 3,273
Total 2,42,215

TUSHAR Digitally signed by TUSHAR KHARPAD KHARPADE E Date: 2024.01.16 15:10:41 +05'30'

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Annexure III
Sr. No. Name of the Allottees Category No. of Warrants
1 Pratik Patel Promoter 15,000
Total 15,000

TUSHAR Digitally signed by TUSHAR KHARPAD KHARPADE E Date: 2024.01.16 15:11:24 +05'30'

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Annexure IV

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Sr. No. Name of the Allottees Category No. of Warrants
1 Ranjit Nair Non-promoter 15,000
Total 15,000

TUSHAR Digitally signed by TUSHAR KHARPADE KHARPADE Date: 2024.01.16 15:11:42 +05'30'

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