The Company adds four promoters with a 43.31% combined stake

The Company identified four additional current promoters in a Board resolution dated March 11, 2026. Akash Aggarwal, Rohit Garg, Ankit Bansal and Atul Tulsian together held 43.31% of pre-Issue paid-up capital, exceeding the 29.37% held by original promoters Rakesh Kumar Aggarwal and Kusum Aggarwal.

Why did The Company identify four promoters in March 2026?

The Company identified Akash Aggarwal, Rohit Garg, Ankit Bansal and Atul Tulsian as current promoters through its March 11, 2026 Board resolution. The filing names Rakesh Kumar Aggarwal and Kusum Aggarwal as the original promoters, so the disclosed promoter list increased from two people to six.

The Company’s promoters section names the same six individuals and reports their total holding at 93,74,976 equity shares, or 72.68% of pre-Issue subscribed and paid-up capital. The filing characterises the March 2026 action as identification of current promoters and separately states that there was no change in control during the five years preceding the Red Herring Prospectus.

The six promoter designations cover people with different management roles. Rakesh Kumar Aggarwal is Chairman and Managing Director, Akash Aggarwal is an Executive Director, Ankit Bansal is Chief Financial Officer, and Atul Tulsian is Chief Operating Officer. Rohit Garg is also a promoter, although the personnel-changes table records his resignation as Chief Financial Officer on January 5, 2026.

How is The Company’s promoter ownership divided?

The Company’s four additionally identified promoters held 55,87,022 equity shares, or 43.31% of pre-Issue paid-up capital, based on the individual promoter table. The original promoter pair held 37,87,954 shares, or 29.37%, making the additional group’s holding 13.94 percentage points larger.

Rakesh Kumar Aggarwal held the largest individual promoter stake, with 31,92,258 shares or 24.75%. Akash Aggarwal held 21,27,326 shares or 16.49%, followed by Rohit Garg with 16,92,630 shares or 13.12%, Ankit Bansal with 12,06,199 shares or 9.35%, Kusum Aggarwal with 5,95,696 shares or 4.62%, and Atul Tulsian with 5,60,867 shares or 4.35%.

The concentration shown in the table depends on the stated pre-Issue capital base. The Company did not provide post-Offer percentages for Ankit Bansal and Atul Tulsian in its key managerial personnel and senior-management shareholding table, where those fields were left blank.

What roles do the additional promoters hold at The Company?

The Company’s additional promoters include its finance and operations heads, both appointed in January 2026. Ankit Bansal was appointed Chief Financial Officer on January 17, 2026, while Atul Tulsian was appointed Chief Operating Officer on January 28, 2026.

Ankit Bansal is responsible for financial planning, budgeting and reporting, according to The Company. The filing states that he had around 20 years of accounting and finance experience and received Rs 27.50 lakh in remuneration in Fiscal 2026; his 12,06,199 shares represented 9.35% of pre-Offer equity share capital.

Atul Tulsian is responsible for day-to-day operational activities at The Company. The Company reports that he had around 16 years of textile-industry experience and received Rs 33.00 lakh in Fiscal 2026; his 5,60,867 shares represented 4.35% of pre-Offer equity share capital.

Akash Aggarwal is an Executive Director and was appointed to The Company’s Stakeholders’ Relationship Committee, constituted on January 28, 2026. That committee is chaired by independent director Subhash Chand Gupta and is responsible for matters including security-holder grievances, share transfers and review of registrar and share-transfer-agent service standards.

Does The Company’s promoter change mean control changed?

No. The Company states that no change in control occurred during the five years preceding the Red Herring Prospectus, despite the March 11, 2026 resolution identifying six current promoters. The statement distinguishes promoter identification from a reported change in corporate control.

The Company disclosed that the original promoter pair remained within the six-person promoter set with 29.37% of pre-Issue capital. The four other current promoters held 43.31%, while all six held 72.68%, so the filing presents promoter ownership across a broader group than the original couple alone.

The Company says its promoters may be deemed interested in remuneration and expense reimbursement because they are directors, key managerial personnel or senior management. It separately identifies shareholding, directorships, dividends and other distributions as interests that may arise from the promoter positions and equity holdings.

The Company also states that no sum was paid or agreed to be paid to induce or qualify a promoter as a director or promoter. It reports that promoters had no direct or indirect interest in property acquired during the preceding three years or proposed to be acquired, including land, building-construction and machinery-supply transactions.

What governance disclosures accompany The Company’s promoter structure?

The Company established its Nomination and Remuneration Committee on January 28, 2026, with four members including two independent directors. Rakesh Kumar Aggarwal is a committee member alongside Subhash Chand Gupta, Asha K Sharma and Kusum Aggarwal.

The Nomination and Remuneration Committee operates under Section 178 of the Companies Act, 2013 and Regulation 19 of the Securities and Exchange Board of India Listing Obligations and Disclosure Requirements Regulations, 2015. Its stated functions include recommending remuneration policy, evaluating the Board and directors, reviewing compensation matters and identifying candidates for director and senior-management positions.

The Company says it has no employee stock option scheme or employee stock purchase scheme. It also states that all key managerial personnel and senior management are permanent employees, with no service contracts providing termination benefits beyond statutory entitlements upon termination or retirement.

The promoter group is a separate category from the six promoters. The Company says individuals and entities specified under Regulation 2(1)(pp) of the Securities and Exchange Board of India Issue of Capital and Disclosure Requirements Regulations form part of the promoter group, including listed relatives of the promoters.

Conclusion

The Company’s March 11, 2026 resolution made its promoter structure broader than the original promoter pair. The four additional promoters held 43.31% of pre-Issue paid-up capital, compared with 29.37% for Rakesh Kumar Aggarwal and Kusum Aggarwal, while all six disclosed promoters collectively held 72.68%.

What to watch next is the final post-Offer capital structure, because post-Offer holdings for Ankit Bansal and Atul Tulsian were not filled in within the filing’s personnel shareholding table. The Company also states that its equity shares are proposed to be listed on the BSE SME Platform, which will require the final ownership disclosures to show how the 72.68% pre-Issue promoter holding changes after the Offer.