MFS Intercorp Limited — Capital/Financing Update 2024

Sep 26, 2024

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26.09.2024

To, Department of Corporate Services, BSE Limited Ground Floor, P.J. Tower, Dalal Street, Fort, Mumbai- 400001.

Scrip Code: 513721

Subject: Outcome of Board Meeting held on 26[th] September, 2024.

Dear Sir/Madam,

Pursuant to Regulation 30 read with Part A of Schedule III of SEBI (LODR) Regulations, 2015, we hereby inform you that the Board of Directors of the Company at its Meeting held today i.e. 26[th] September, 2024 has inter-alia considered and approved the following:

1. An increase of Authorised Share Capital from ₹5,00,00,000/- (Rupees Five Crores Only) divided into 50,00,000 (Fifty Lakhs) Equity Shares to ₹15,00,00,000/- (Rupees Fifteen Crores only) divided into 1,50,00,000 (One Crore Fifty Lakh) Equity Shares of ₹10/- each and consequent alteration of Memorandum of Association subject to the approval of Members of the Company.

2. The Board of Directors in-principally decided to raise the funds through the issue and allotment of up to 1,01,50,000 (One Crore One Lakh Fifty Thousand) warrants ("warrants") of the Company at a minimum price of Rs.11/- (Rupees Eleven only) (Including Premium) per warrant subject to Pricing Guideline of Chapter V of SEBI (ICDR) Regulations, 2018 with a right to the warrant holders to apply for and be allotted 1 (One) Equity Share of the face value of Rs.10/- (Rupees Ten only) each of the Company ("Equity Shares") for each warrant, within a period of 18 (Eighteen) months from the date of allotment of the warrant, to the following person;

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Sr. No. of Shares
No. Name Proposed PAN Number
1 Bhut Yash Lalitkumar 16,00,000 FVXPB1420G
2 Narnavre Rutik 16,00,000 BRMPN5318N
3 Panchal Jainil 16,00,000 DTPPP5682G
4 Trivedi Ishit Hiren 12,00,000 AZXPT1660M
5 Hardik Rasiklal Nayak 12,00,000 ADNPN1060D
6 Charmi Jayesh Nayak 12,00,000 AQDPN7995A
7 Shah Vidit Sufalbhai 16,00,000 KNIPS8240D
8 Mistry Parulben Riteshbhai 1,50,000 EWQPR8238M
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Please find enclosed as Annexure '2', information required to be disclosed pursuant to Regulation 30 of SEBI LODR read with Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015.

1. Appointment of Mr. Suhas Bhattbhatt, Practicing Company Secretary, as a Scrutinizer for Remote E voting.

CIN: L27209DL1986PLC254555 E-mail: muskanferros@gmail.com, www.muskanferro.com Registered Office: Office No.5, 1st Floor BLK B, PKT 3, Se 34, Rohini, New Delhi 110042 Corporate Office: 109 First Floor, Arista, Bodakdev, Ahmedabad, Gujarat, India, 380054

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The Meeting of Board of Directors of the Company commenced from 5.30 PM and closed at 6.50 PM.

We request you to kindly take note of the above in your record.

Thanking You

Yours Faithfully

For MFS Intercorp Limited Kiran B Digitally signed by Kiran B Vishwakarma Vishwakarma Date: 2024.09.26 18:56:17 +05'30' Vishwakarma Kiran Executive Director DIN: 10526319

CIN: L27209DL1986PLC254555

E-mail: muskanferros@gmail.com, www.muskanferro.com Registered Office: Office No.5, 1st Floor BLK B, PKT 3, Se 34, Rohini, New Delhi 110042 Corporate Office: 109 First Floor, Arista, Bodakdev, Ahmedabad, Gujarat, India, 380054

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Annexure 2:

Details of Preferential Issue

Disclosures as required under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

A. Type of securities proposed to be issued (viz. equity shares, convertibles etc.): Convertible warrants ("Warrants") with a right exercisable by the warrant holder to subscribe to one Equity Share per Warrant for cash.

B. Type of issuance (further public offering, rights issue, depository receipts (ADR/GDR), qualified institutions placement, preferential allotment etc.) : Preferential Allotment

C. Total number of securities proposed to be issued or the total amount for which the securities will be issued (approximately): Up to 1,01,50,000 (One Crore One Lakh Fifty Thousand) warrants at a minimum price of Rs.11/- (Rupees Eleven only) (including premium) per warrant subject Pricing Guideline of Chapter V of SEBI (ICDR) Regulations, 2018.

D. In case of preferential issue the listed entity shall disclose the following additional details to the stock exchange(s)

a) Names and a number of the investors:

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No. of
Proposed
Allottees 08 (Eight)
No. of Shares
S. No. Name proposed to be issue PAN Number
1 Bhut Yash Lalitkumar 16,00,000 FVXPB1420G
2 Narnavre Rutik 16,00,000 BRMPN5318N
3 Panchal Jainil 16,00,000 DTPPP5682G
4 Trivedi Ishit Hiren 12,00,000 AZXPT1660M
5 Hardik Rasiklal Nayak 12,00,000 ADNPN1060D
6 Charmi Jayesh Nayak 12,00,000 AQDPN7995A
7 Shah Vidit Sufalbhai 16,00,000 KNIPS8240D
8 Mistry Parulben Riteshbhai 1,50,000 EWQPR8238M
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b) post allotment of securities - outcome of the subscription, issue price / allotted price (in case of convertibles), number of investors;

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Name of the proposed Pre Issue Shareholding Post Issue Shareholding
allottees No. of Shares % of holding No. of Shares % of holding
Bhut Yash Lalitkumar 28,421 0.657% 16,00,000 11.054
Narnavre Rutik NIL - 16,00,000 11.054
Panchal Jainil 38,421 0.883% 16,00,000 11.054
Trivedi Ishit Hiren NIL - 12,00,000 8.290
Hardik Rasiklal Nayak 47,844 1.106% 12,00,000 8.290
Charmi Jayesh Nayak NIL - 12,00,000 8.290
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CIN: L27209DL1986PLC254555

E-mail: muskanferros@gmail.com, www.muskanferro.com Registered Office: Office No.5, 1st Floor BLK B, PKT 3, Se 34, Rohini, New Delhi 110042 Corporate Office: 109 First Floor, Arista, Bodakdev, Ahmedabad, Gujarat, India, 380054

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Shah Vidit Sufalbhai	39,459	0.912%	16,00,000	11.054
Mistry Parulben Riteshbhai	NIL	-	1,50,000	1.036

c) In case of convertibles-intimation on conversion of securities or on lapse of the tenure of the instrument: Warrants carrying a right to subscribe to 1 Equity Share per warrant at a minimum price of Rs.11/- (Rupees Eleven only) per warrant subject Pricing Guideline of Chapter V of SEBI (ICDR) Regulations, 2018.

d) In case of Convertible - intimation on the conversion of securities or on lapse of the tenure of the instrument: The warrant holders shall, subject to the SEBI (ICDR) Regulations and other applicable rules, regulations and laws, be entitled to exercise the warrants in one or more tranches within a period of 18 (Eighteen) months from the date of allotment of the warrant by issuing a written notice to the Company specifying the number of warrants proposed to be exercised. The Company shall accordingly issue and allot the corresponding number of Equity Shares of face value of Rs.10/-(Rupees Ten only) each to the warrant holders; An amount equivalent to at least 25% of the Warrant Issue Price shall be payable at the time of subscription and allotment of each Warrant and the balance 75% shall be payable by the Warrant holder(s) on the exercise of Warrant(s) in one or more trench;

In the event that, a warrant holder does not exercise the warrants within a period of 18 (Eighteen months from the date of allotment of such warrants, the unexercised warrants shall lapse and the amount paid by the warrant holders on such Warrants shall stand forfeited by the Company.

The price determined as per the Chapter V of the SEBI (ICDR) Regulations and the number of Equity Shares to be allotted on exercise of the Warrant shall be subject to appropriate adjustments, as permitted under applicable rules, regulations and laws, as applicable from time to time.

CIN: L27209DL1986PLC254555 E-mail: muskanferros@gmail.com, www.muskanferro.com Registered Office: Office No.5, 1st Floor BLK B, PKT 3, Se 34, Rohini, New Delhi 110042 Corporate Office: 109 First Floor, Arista, Bodakdev, Ahmedabad, Gujarat, India, 380054