Aspira Pathlab & Diagnostics Open Offer Concludes: Acquirers Accept 22,82,507 Shares at ₹55 Each

Aftertrade Broking Private Limited, acting as Manager to the Offer, published a Post-Offer Advertisement on May 18, 2026, in compliance with Regulation 18(12) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The advertisement pertains to the concluded open offer for Aspira Pathlab & Diagnostics Limited , a Mumbai-based diagnostics company with CIN L85100MH1973PLC289209.

The open offer was made by five acquirers — Mr. Arvind Karsandas Bhanushali, Mrs. Deepali Arvind Bhanushali, Mr. Jay Arvind Bhanushali, Mr. Nikunj Velji Mange, and Mr. Raj Arvind Bhanushali — along with Mrs. Shraddha Nikunj Mange as the Person Acting in Concert (PAC). The Detailed Public Statement (DPS) for the open offer was published on October 06, 2025, in Financial Express (English), Mumbai Lakshdeep (Marathi), and Jansatta (Hindi).

Offer Structure and Key Dates

The open offer was structured to acquire up to 26,76,180 fully paid-up equity shares of face value ₹10.00/- each, representing 26.00% of the total equity share capital of Aspira Pathlab & Diagnostics Limited, at a price of ₹55/- per share. The key dates for the offer are summarised below.

Parameter: Details Offer Opening Date: Wednesday, 15/04/2026 Offer Closing Date: Tuesday, 28/04/2026 Date of Payment/Communication of Acceptance/Rejection: Wednesday, 13/05/2026 Manager to the Offer: Aftertrade Broking Private Limited Registrar to the Offer: Integrated Registry Management Services Private Limited

Details of Acquisition: Proposed vs. Actuals

The open offer received 22,82,507 equity shares against the proposed 26,76,180 equity shares. All 22,82,507 tendered equity shares were in dematerialised form and were validly accepted. The table below presents a comparison of the proposed and actual acquisition details.

Particulars: Proposed in Letter of Offer Actuals Offer Price (in Rs.): ₹55/- (Rupees Fifty-Five Only) ₹55/- (Rupees Fifty-Five Only) Aggregate Shares Tendered: 26,76,180 Equity Shares 22,82,507 Equity Shares Aggregate Shares Accepted: 26,76,180 Equity Shares 22,82,507 Equity Shares Size of the Offer: ₹14,71,89,900/- (Rupees Fourteen Crores Seventy-One Lakhs Eighty-Nine Thousand Nine Hundred Only) ₹12,55,37,885/- (Rupees Twelve Crores Fifty Five Lakhs Thirty Seven Thousand Eight Hundred Eighty Five Only) Shareholding of Acquirers & PAC before Public Announcement (Number): 24,52,111 24,52,111 Shareholding of Acquirers & PAC before Public Announcement (%): 23.82% 23.82% Shares via Share Purchase Agreement (SPA) — Number: 0 0 Shares via Share Purchase Agreement (SPA) — %: 0.00% 0.00% Shares Acquired via Open Offer — Number: 26,76,180 22,82,507 Shares Acquired via Open Offer — %: 26.00% 22.18% Shares Acquired after DPS — Number: Nil Nil Shares Acquired after DPS — %: Nil Nil Price of Shares Acquired after DPS: Not Applicable Not Applicable

Pre- and Post-Offer Shareholding Pattern

The open offer has resulted in a significant change in the shareholding structure of Aspira Pathlab & Diagnostics Limited. The combined stake of the Acquirers and PAC increased from 23.82% to 46.00%, while the existing Promoter/Promoter group (other than the Acquirers and PAC) retained their 0.43% holding. Public shareholding declined from 75.75% to 53.57%.

Shareholder Category: Pre-Offer No. of Shares Pre-Offer % Post-Offer No. of Shares Post-Offer % Acquirers and PAC: 24,52,111 23.82% 47,34,618 46.00% Existing Promoter/Promoter Group (other than Acquirers & PAC): 43,999 0.43% 43,999 0.43% Public (other than Acquirers & PAC): 77,96,890 75.75% 55,14,383 53.57%

Pre-Offer Shareholding of Individual Acquirers and PAC

Prior to the public announcement, the individual shareholdings of the Acquirers and PAC in Aspira Pathlab & Diagnostics Limited were as follows:

Mr. Arvind Karsandas Bhanushali (Acquirer 1): 8,85,500 equity shares (8.60%)

Mrs. Deepali Arvind Bhanushali (Acquirer 2): 8,85,500 equity shares (8.60%)

Mr. Jay Arvind Bhanushali (Acquirer 3): 2,32,727 equity shares (2.26%)

Mr. Nikunj Velji Mange (Acquirer 4): 2,20,158 equity shares (2.14%)

Mr. Raj Arvind Bhanushali (Acquirer 5): 77,964 equity shares (0.76%)

Mrs. Shraddha Nikunj Mange (PAC): 1,50,262 equity shares (1.46%)

The Acquirers and PAC have accepted full responsibility for the information contained in this Post-Offer Advertisement and for their obligations under the SEBI (SAST) Regulations, 2011. The advertisement has been issued by Aftertrade Broking Private Limited (SEBI Reg. No.: INM000013110) on behalf of the Acquirers and PAC, and is signed by Mr. Jay Arvind Bhanushali (Acquirer 3) dated May 18, 2026, from Mumbai. A copy of this Post-Offer Advertisement is available on the websites of SEBI and BSE Limited. Capitalised terms used in the advertisement carry the same meanings as assigned in the Letter of Offer dated March 30, 2026.

Aspira pathlab & Diagnostics Limited has formally notified the Bombay Stock Exchange regarding its regulatory status under SEBI's Large Corporate framework for the financial year 2025-2026. The company confirmed that it does not meet the criteria to be classified as a Large Corporate entity, thereby exempting it from specific annual disclosure requirements.

Regulatory Compliance Confirmation

On April 15, 2026, the company's Chief Financial Officer, Balkrishna Talawadekar, submitted an official communication to BSE confirming the company's non-qualification for Large Corporate status. The confirmation was made in accordance with SEBI Circular No. SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018, which establishes the regulatory framework for Large Corporate entities.

Parameter Details Communication Date April 15, 2026 Financial Year 2025-2026 SEBI Circular Reference SEBI/HO/DDHS/CIR/P/2018/144 Circular Date November 26, 2018 Signatory Balkrishna Talawadekar, CFO

Disclosure Requirements Impact

As a consequence of not meeting the Large Corporate criteria, Aspira Pathlab & Diagnostics Limited is not required to comply with the annual disclosure requirements specified in Annexure B2 of the referenced SEBI circular. These disclosure requirements typically pertain to fund raising activities through the issuance of debt securities by Large Corporate entities.

The company's confirmation ensures compliance with SEBI's regulatory framework while clarifying its exemption status from specific disclosure obligations that apply only to entities classified as Large Corporates under the established criteria.

Company Information

Aspira Pathlab & Diagnostics Limited operates as a fully integrated laboratory services provider in India. The company maintains its registered office at Flat No. 2, R D Shah Building, Shraddhanand Road, Opp. Railway Station, Ghatkopar (W), Mumbai-400086, with its corporate office located at 6 & 7, Bhaveshwar Arcade, Near Shreyas Junction LBS Marg, Behind Saraswat Bank, Ghatkopar (W), Mumbai-400086.

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