EFC (I) Limited Files Letter of Offer with SEBI for ₹159.94 Crore Rights Issue

EFC (I) Limited has submitted its Letter of Offer dated May 1, 2026, to SEBI, BSE Limited, and National Stock Exchange of India on May 6, 2026, in compliance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. The filing follows the Board of Directors meeting held on May 1, 2026, where the company finalised detailed terms for its rights issue, building on in-principle approvals received from BSE and NSE vide their letters dated April 27, 2026.

Rights Issue Structure and Pricing

The company proposes to issue up to 1,06,62,786 fully paid-up equity shares of face value ₹2 each at a price of ₹150 per share, including a share premium of ₹148 per share, aggregating up to ₹15,994.18 Lakhs. The rights equity shares are being offered to eligible equity shareholders in the ratio of 8 rights equity shares for every 103 fully paid-up equity shares held on the record date of Thursday, May 7, 2026.

Parameter: Details Instrument: Fully paid-up Equity Shares of ₹2 each Total Rights Equity Shares: 1,06,62,786 shares Issue Size: ₹15,994.18 Lakhs Rights Issue Price: ₹150 per share (including premium of ₹148) Rights Entitlement Ratio: 8:103 ISIN for Rights Entitlement: INE886D20018 Registrar to the Issue: MUFG Intime India Private Limited Monitoring Agency: CARE Ratings Limited Banker to the Issue: HDFC Bank Limited

Share Capital Impact

Prior to the rights issue, the company has 13,72,83,376 outstanding equity shares. Assuming full subscription, the issued, subscribed, and paid-up equity share capital will increase to 14,79,46,162 fully paid-up equity shares post-issue. The securities premium account is expected to increase from ₹34,664.93 Lakhs before the issue to ₹50,445.85 Lakhs after the issue.

Complete Issue Schedule

The Letter of Offer sets out a comprehensive timeline for the rights issue process, with the issue opening on May 13, 2026, and closing on May 22, 2026. The board retains the right to extend the issue period by up to 30 days from the issue opening date.

Event: Date Record Date: Thursday, May 7, 2026 Last Date for Credit of Rights Entitlements: Friday, May 8, 2026 Issue Opening Date: Wednesday, May 13, 2026 Last Date for On-Market Renunciation: Monday, May 18, 2026 Issue Closing Date: Friday, May 22, 2026 Finalization of Basis of Allotment (on or about): Monday, May 25, 2026 Date of Allotment (on or about): Monday, May 25, 2026 Date of Credit of Rights Equity Shares (on or about): Tuesday, May 26, 2026 Date of Listing (on or about): Wednesday, May 27, 2026

Objects of the Issue and Fund Utilisation

The company proposes to utilise the net proceeds of ₹15,912.08 Lakhs (after estimated issue-related expenses of ₹82.10 Lakhs) towards working capital requirements and general corporate purposes. The intended deployment of net proceeds is as follows:

Particulars: Amount (₹ in Lakhs) Working capital requirements of EFC (I) Limited: 6,000.00 Working capital of subsidiary EFC Limited (via Equity/Debt): 3,000.00 Working capital of subsidiary EK Design Industries Limited (via Equity/Debt): 3,000.00 General Corporate Purposes: 3,912.08 Total Net Proceeds: 15,912.08

EFC (I) Limited currently holds an order book of ₹165.00 crores for its design and build business. Its subsidiary EFC Limited holds an order book of ₹197.10 crores, while EK Design Industries Limited holds an order book of ₹98.60 crores, all as of April 20, 2026.

Financial Summary

The following table presents key consolidated financial metrics derived from audited financial statements and unaudited consolidated financial results:

Particulars: March 31, 2024 March 31, 2025 December 31, 2024 December 31, 2025 Total Income from Operations (₹ Lakhs): 41,945.98 65,674.26 44,573.10 74,379.92 Net Profit Before Tax (₹ Lakhs): 8,097.30 19,984.22 12,930.44 22,395.01 Net Profit After Tax (₹ Lakhs): 6,330.40 14,077.34 9,280.65 16,579.78 Net Worth (₹ Lakhs): 42,682.70 57,942.02 52,541.25 73,730.11 Basic EPS (₹): 4.22 10.87 7.18 11.81 Return on Net Worth: 14.83% 24.30% 17.66% 22.49% Net Asset Value per Share (₹): 31.09 42.21 38.27 53.71

Issue Price Rationale and Regulatory Compliance

The Board of Directors determined the rights issue price of ₹150 per equity share at a discount to recent market prices. The issue price represents a discount of 23.37% and 23.19% to the closing market price on BSE and NSE respectively, one trading day prior to the announcement of the rights issue price (April 30, 2026). It also represents a discount of 25.92% and 25.90% to the 10 trading days' volume weighted average price on BSE and NSE respectively, and a discount of 35.41% and 34.69% to the 90 trading days' VWAP on BSE and NSE respectively, preceding the announcement. The company has confirmed that neither it nor its promoters — Mr. Umesh Kumar Sahay and Mr. Abhishek Narbaria — have been categorised as wilful defaulters or fraudulent borrowers by any bank or financial institution. The designated stock exchange for the issue is BSE Limited.

Source: None/Company/INE886D01026/9bbfc0af-8982-43d7-8b85-18a59bcd075f.pdf

EFC (I) Limited has officially incorporated a wholly-owned subsidiary, EFC Estate Wakadewadi 2 Private Limited, with the Certificate of Incorporation received from the Ministry of Corporate Affairs on April 29, 2026. The company informed BSE Limited and National Stock Exchange of India Limited about this development pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Subsidiary Details and Structure

The newly incorporated entity operates in the real estate as a service sector and maintains complete ownership under EFC (I) Limited. The subsidiary was established with an initial capital structure designed for targeted real estate operations.

Particulars: Details Company Name: EFC Estate Wakadewadi 2 Private Limited Date of Incorporation: April 29, 2026 Country of Incorporation: India Industry Sector: Real estate as a service Shareholding by Listed Entity: 100%

Financial Structure and Investment

The subsidiary's financial framework reflects a focused approach to real estate operations with clear capital allocation and ownership structure.

Financial Parameters: Details Cost of Subscription: Rs. 1,000.00 (Rupees One Thousand) Share Structure: 100 equity shares of Rs. 10.00 each Nature of Consideration: Cash Shareholding Control: 100% by EFC (I) Limited Governmental Approvals: Not Applicable

Business Operations and Property Portfolio

EFC Estate Wakadewadi 2 Private Limited will hold and acquire property situated on the 2nd floor, B Wing/building, in the commercial complex known as Godrej Eternia. The property is strategically located on sub-divided Final Plot bearing No. 64/A1, 64/B1 and 64/B2 at village Bhamburda, Shivaji Nagar, Taluka Pune City, District Pune, within the limits of Pune Municipal Corporation. The property acquisition will be executed through demerger from EFC Limited, which is a material wholly-owned subsidiary of EFC (I) Limited.

Regulatory Compliance and Documentation

The incorporation process was completed without requiring governmental or regulatory approvals. EFC (I) Limited's Company Secretary, Aman Gupta, digitally signed the regulatory filing on April 29, 2026, ensuring compliance with SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The transaction involves cash consideration and establishes EFC (I) Limited's complete operational control over the new real estate entity through 100% shareholding.

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