Rushil Decor Limited — Capital/Financing Update 2025

Jun 24, 2025

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RDL/023/2025-26 Date: 24.06.2025

To, National Stock Exchange of India Ltd. Exchange Plaza, Bandra – Kurla Complex, Bandra (E), Mumbai – 400 051 NSE EQUITY SYMBOL: RUSHIL

To, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 SCRIP CODE: 533470

ISIN: INE573K01025

Dear Sir/Madam,

Ref: Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Subject: Outcome of Fund Raising Committee Meeting of the Board of Directors

This is to inform that the Fund Raising Committee of the Board of Directors of the Company has, at its meeting held on Tuesday, June 24, 2025 (i.e. today), inter-alia, considered and approved the following items:

1) Allotment of Shares due to conversion of warrants into equity Shares.

Allotment of 66,00,000 Equity Shares of face value of Rs.1/- each to 14 allottees being covered in Public Category upon conversion of Warrants on preferential basis under the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”).

The list of allottee is attached herewith as Annexure - 1.

2) Forfeiture of warrants due to non-exercise of conversion into equity shares

The persons as enlisted in the attached Annexure - 2 did not exercise or partly opted the conversion option of pending 3,30,000 warrants within 18 months from the date of the allotment i.e. on or before June 22, 2025. The amount received on the said 3,30,000 convertible warrants stands forfeited as per provision of Regulation 169(3) of Chapter V of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.

3) Conversion option held in abeyance

The Competent Authority “Securities Appellate Tribunal, Mumbai” has given it’s order of status quo for one of the warrant holders namely “Vespera Fund Limited” for exercising an option for conversion of 10,00,000 warrants into equity. Hence, Vespera

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Fund Limited could not participate in the conversion of it’s 10,00,000 warrants into equity shares till the permitted timeline of 22nd June, 2025. As per the status quo order of the authority, Company has not forfeited the 10,00,000 convertible warrants of Vespera Fund Limited even through it has not paid the balance 75% amount to the Company. On getting final order of Securities Appellate Tribunal, Mumbai, Company will act according to order of authority.

The above matter has been duly approved by the Fund Raising Committee at its meeting held today which commenced at 03:15 PM and concluded at 04:45 PM.

The same will be made available on the Company’s website at www.rushil.com

Please take the same into your record and do the needful.

Thanking you,

Yours faithfully,

For Rushil Decor Limited

MODI Digitally signed by MODI HASMUKH HASMUKH KANUBHAI KANUBHAI Date: 2025.06.24 16:46:17 +05'30' ____ Hasmukh K. Modi Company Secretary

Encl.: a/a

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Annexure – 1

List of Allottees for Allotment of Equity Shares upon conversion of Warrants on preferential basis under the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”).

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Sr. Name of No. of No. of Conversion Balance 75% No. of
No. Warrant holder warrant Warrants of Warrants Amount Equity
applied Converted into Equity Received for Shares
for Earlier Shares (No.) conversion of Allotted
in current warrants into under
allotment equity shares current
(Rs.) allotment
1 NVS Brokerage 1,00,000 45,000 55,000 1,22,51,250 5,50,000
Private Limited
2 NVS Corporate 1,00,000 45,000 55,000 1,22,51,250 5,50,000
Consultancy
Services
Private Limited
3 Amar Alliance 1,00,000 -- 1,00,000 2,22,75,000 10,00,000
Securities
Private Limited
4 Vinod Sethi 1,00,000 -- 1,00,000 2,22,75,000 10,00,000
5 Navin 50,000 -- 50,000 1,11,37,500 5,00,000
Mahavirprasad
Dalmia
6 Aditya 50,000 -- 50,000 1,11,37,500 5,00,000
Aggarwal
7 Ripunjay 50,000 -- 50,000 1,11,37,500 5,00,000
Aggrawal
8 Sharad Goel 50,000 -- 50,000 1,11,37,500 5,00,000
9 Nalin Vrajlal 45000 25,000 20,000 44,55,000 2,00,000
Shah
10 Adiraju 40,000 -- 25,000 55,68,750 2,50,000
Rajendra
Prasad
11 Dayata Sirish 40,000 -- 40,000 89,10,000 4,00,000
12 Nikhil Tyagi 40,000 -- 40,000 89,10,000 4,00,000
13 Lanka V N 25,000 -- 5,000 11,13,750 50,000
Muralidhar
14 Hypotenuse 20,000 -- 20,000 44,55,000 2,00,000
Investment
TOTAL 8,10,000 1,15,000 6,60,000 14,70,15,000 66,00,000
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Note: The warrants were issued at the rate of Rs. 297 per warrant. After allotment of warrants, the equity shares of the Company were sub-divided from1 equity share of Rs. 10 each to 10 equity shares of Rs. 1 each. Accordingly, the warrant holders are allotted 10 equity shares for every one warrant held by them.

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Annexure – 2

The persons as enlisted below did not exercise or partly opted the conversion option of pending warrants within 18 months period from the date of the allotment i.e. on or before June 22, 2025. The 25% amount received on the said convertible warrants are liable to be forfeited

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Sr. Name of Warrant holder No. of Conversion of No. of Warrants on
No. Warrants Warrants into which Conversion
applied for Equity Shares option is not
(No.) in current exercised and liable
allotment for forfeited
1 Omkara Capital Private Limited 1,00,000 -- 1,00,000
2 Kushaal Saraf 75,000 -- 75,000
3 Vineet Arora 50,000 -- 50,000
4 Adiraju Rajendra Prasad 40,000 25,000 15,000
5 Reena Karwa 35,000 -- 35,000
6 Luxurious Inland Developers --
LLP 35,000 35,000
7 Lanka V N Muralidhar 25,000 5,000 20,000
TOTAL 3,60,000 30,000 3,30,000
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Note: The warrants were issued at the rate of Rs. 297 per warrant. The warrant holders paid 25% amount at the time of allotment of warrants. On non-exercise of option by warrant holders about conversion of warrants into equity shares within time limit of 18 months from the date of allotment of the warrants, it is liable for forfeiture.

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