Pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations & Disclosure Requirements) 2015 ('SEBI Listing Regulation'), we wish to inform you that the Board of Directors of the Company at its meeting held today i.e. Friday, March 13, 2026 inter-alia, considered and approved the incorporation of a Wholly Owned Subsidiary of the Company under the provisions of the Companies Act, 2013 with the name and style of 'Gullakkart Private Limited' or such other name as may be approved by the Registrar of Companies, Mumbai and to invest initial subscription amount of Rs. 5,00,00,000/- (Rupees Five Crore only) comprising of 50,00,000 (Fifty Lakhs) equity shares of Rs. 10/- (Rupees Ten only) each as the paid-up capital into its newly incorporated wholly owned subsidiary company.