Asian Energy Services Allots 36,62,702 Equity Shares on Conversion of Convertible Warrants

Asian Energy Services Limited has allotted 36,62,702 equity shares of Re. 10/- each upon conversion of convertible warrants, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The allotment was approved by the Allotment Committee of the Board of Directors through a circular resolution dated 5th May, 2026. The equity shares were issued at an issue price of Rs. 335/- per share, and the allotment shall be made in dematerialised form, with the shares ranking pari passu with the existing equity shares of the company in all respects.

Background: Warrant Issuance and Exercise

The warrants were originally allotted on 5th November, 2024, following shareholder approval at an Extraordinary General Meeting (EGM) held on 19th September, 2024. A total of 47,00,000 warrants were issued, each convertible into one equity share of face value Re. 10/- each, at a warrant issue price of Rs. 335/- per warrant. The warrant issue price comprised a warrant subscription price of Rs. 83.75/- (being 25% of the warrant issue price) and a warrant exercise price of Rs. 251.25/- (being 75% of the warrant issue price). The warrants carried an exercise period of 18 months from the date of allotment, i.e., from 5th November, 2024.

Warrant Conversion and Lapse Details

Upon receipt of the warrant exercise price aggregating to Rs. 92,02,53,880/- (Rupees Ninety-two Crores Two Lakhs Fifty-three Thousand Eight Hundred Eighty only) from the warrant holders, the company proceeded with the allotment. The status of the warrants issued is summarised below:

Particulars: No. of Warrants Warrants allotted on 5th November, 2024 47,00,000 Warrants converted into Equity Shares 36,62,702 Warrants Lapsed 10,37,298

As per the terms and conditions of the warrant issuance, 10,37,298 warrants lapsed on account of non-exercise by the respective warrant holders within the stipulated exercise period of 18 months from the date of allotment. The upfront amount of 25% of the warrant issue price paid by these warrant holders in respect of the 10,37,298 lapsed warrants has been forfeited by the company.

Post-Allotment Share Capital

Consequent to the conversion of 36,62,702 warrants into an equal number of equity shares, the issued, subscribed and paid-up equity share capital of Asian Energy Services has increased. The updated capital structure is as follows:

Parameter: Details Paid-up Share Capital (Post-Allotment) Rs. 48,61,10,000/- Total Equity Shares (Post-Allotment) 4,86,11,000 equity shares of Re. 10/- each Warrant Issue Price Rs. 335/- per share Warrant Exercise Price (per warrant) Rs. 251.25/- (75% of Warrant Issue Price) Total Warrant Exercise Price Received Rs. 92,02,53,880/- Number of Allottees 28

Allottee Details

The allotment was made to 28 non-promoter allottees. The key allottees and their respective equity shares allotted upon conversion are detailed below:

Allottee: Equity Shares Allotted Titagarh Enterprises Limited 6,56,700 Everest Finance & Investment Company 5,74,000 Ashish Kacholia 5,74,000 Shruthi M. 1,19,402 Mohit Agrawal 4,00,000 Variant Perceptions LLP 2,00,000 Gazania Advisory LLP 1,50,000 Sachin Kasera 1,00,000 Nexta Enterprises LLP 1,00,000 Trinity Infratech Pvt Ltd 1,00,000 Amisha Vora 1,00,000 Pawan Agarwal 1,00,000 Anuj Premkumar Agarwal 1,00,000 Shruti Sanjay Bhagat 1,00,000 Neelam Nyati 29,850 Anil Kumar Jha 29,850 Amit Kumar Mundra HUF 29,850 DBR Credit Capital Advisers Private Limited 29,850 Aruna Sampat 29,850 Abdul Razzaq Shaikh 23,100 Mitul Mehta 23,100 Mohit Poddar 20,000 Rabi Bastia 14,925 Meena Jain 14,925 Yash Mehta 14,925 Harsh Kejriwal 14,925 Ram Krishna Taparia 7,450 Anupam Agarwal 6,000 Total 36,62,702

The allotment was made on a preferential basis through private placement in accordance with the Companies Act, 2013, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and other applicable laws. The intimation was filed under Regulation 30 of the SEBI (LODR) Regulations, 2015, and signed by Company Secretary Shweta Jain (Membership No.: 23368).

Asian energy services Limited has fulfilled its quarterly regulatory compliance obligations by submitting the confirmation certificate under SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026. The filing was made with both BSE and NSE on April 10, 2026, demonstrating the company's commitment to maintaining regulatory compliance standards.

Regulatory Compliance Details

The submission pertains to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, which mandates specific reporting requirements for listed companies regarding their depository and participant activities. The certificate covers the quarter ended March 31, 2026, representing the fourth quarter of fiscal year 2026.

Filing Details: Information Regulation: SEBI (Depositories and Participants) Regulations, 2018 - Section 74(5) Quarter Covered: Q4FY26 (ended March 31, 2026) Filing Date: April 10, 2026 Filed By: Shweta Jain, Company Secretary & Compliance Officer Membership No.: 23368

Registrar and Transfer Agent Confirmation

MUFG Intime India Private Limited, formerly known as Link Intime India Private Limited, serves as the company's registrar and share transfer agent. The organization issued the confirmation certificate dated April 1, 2026, validating the proper handling of securities during the quarter.

The certificate confirms several critical aspects of securities management:

Securities received from depository participants for dematerialization were properly confirmed to depositories

All securities comprised in certificates have been listed on stock exchanges where previously issued securities are traded

Security certificates received for dematerialization were appropriately confirmed or rejected

Received certificates were mutilated and cancelled after due verification by depository participants

Depository names were substituted in the register of members as registered owners within prescribed timelines

Stock Exchange Communications

The filing was simultaneously submitted to both major Indian stock exchanges where Asian Energy Services Limited maintains its listing status. The company communicated with BSE Limited, where it trades under scrip code 530355, and the National Stock Exchange of India Limited, where it operates under the trading symbol ASIANENE.

Exchange Details: Information BSE Scrip Code: 530355 NSE Trading Symbol: ASIANENE Document Type: Quarterly Confirmation Certificate Regulatory Framework: SEBI (Depositories and Participants) Regulations, 2018

Corporate Governance Framework

The submission reflects Asian Energy Services Limited's adherence to corporate governance standards and regulatory compliance requirements. Company Secretary Shweta Jain, holding membership number 23368, signed the compliance document digitally on April 10, 2026, at 15:31:19 IST, ensuring proper authentication and timing of the regulatory filing.

MUFG Intime India Private Limited, with CIN U67190MH1999PTC118368, operates from its registered address at C-101, Embassy 247, L.B.S. Marg, Vikhroli (West), Mumbai - 400083. The confirmation was signed by Ashok Shetty, Sr. Vice President-Corporate Registry, demonstrating the involvement of senior management in the certification process.

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