Maha Rashtra Apex Corporation Limited Issues Corrigendum on Delayed Commencement of Rights Equity Share Trading

Maha Rashtra Apex Corporation Limited has issued a corrigendum to the Basis of Allotment intimation published on May 08, 2026, in relation to its Rights Issue of Equity Shares. The corrigendum, dated May 11, 2026, informs eligible shareholders that the commencement of trading in the Rights Equity Shares is taking longer than anticipated due to pending procedural requirements.

Background of the Rights Issue

The Company had allotted 14,091,896 equity shares under its Rights Issue, with the Basis of Allotment intimation originally published on May 08, 2026. Listing approvals from both BSE Limited and National Stock Exchange of India Limited were received on May 06, 2026. Despite these approvals being in place, trading in the Rights Equity Shares has not yet commenced.

Reasons for the Delay

The Company has cited two specific reasons for the delay in commencement of trading:

Pending receipt of the credit confirmation letter from Central Depository Services (India) Limited ("CDSL")

Completion of updation of the forfeiture of shares of an earlier year, involving related procedural formalities with the Stock Exchanges

The Company has stated that it is actively coordinating with CDSL and the Stock Exchanges to expedite the completion of the remaining procedural formalities.

Key Details of the Corrigendum

The following table summarises the key parameters of the corrigendum:

Parameter: Details Corrigendum Reference: Basis of Allotment intimation dated May 08, 2026 Listing Approval Date: May 06, 2026 Listing Exchanges: BSE Limited and National Stock Exchange of India Limited Pending Requirement: CDSL credit confirmation letter and completion of forfeiture-related procedural formalities Impact on Allotment: No impact on allotment of Rights Equity Shares Revised Trading Date: To be intimated separately Corrigendum Date: May 11, 2026 Signed By: Jamsheed M. Panday, Company Secretary & Compliance Officer

Allotment Unaffected

The Company has explicitly clarified that there is no impact on the allotment of the Rights Equity Shares pursuant to the Rights Issue. All other terms and disclosures contained in the Basis of Allotment intimation published on May 08, 2026 remain unchanged. The revised date of commencement of trading of the Rights Equity Shares will be intimated separately once the aforesaid confirmation from CDSL is received and the related procedural formalities are completed.

Maha Rashtra Apex Corporation Limited has published newspaper advertisements pertaining to the basis of allotment for its rights issue of 1,40,91,896 equity shares, pursuant to Regulation 92(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI ICDR Regulations"). The advertisement was published on Friday, May 08, 2026 in Financial Express (English national daily), Jansatta (Hindi national daily), and Vishwavani (regional language daily published at the place of the company's registered office). The intimation was filed with BSE Limited and National Stock Exchange of India Limited on May 09, 2026 by Jamsheed Minoo Panday, Company Secretary and Compliance Officer.

Rights Issue Overview

The rights issue comprised 1,40,91,896 equity shares of face value Rs. 10 each, issued at par (Rs. 10 per share), aggregating up to Rs. 14,09,18,960. The issue was offered in the ratio of 1 (one) rights equity share for every 1 (one) fully paid-up equity share held by existing equity shareholders on the record date of Friday, March 20, 2026. The subscription window opened on Thursday, April 02, 2026 and closed on Thursday, April 30, 2026, with the last date for on-market renunciation of Rights Entitlements being Friday, April 24, 2026.

Subscription and Allotment Details

The rights issue received strong investor response, with the total valid applications amounting to 504.12% of the issue size. Out of 2,679 total applications for 7,17,78,111 equity shares received through the Application Supported by Blocked Amount ("ASBA") process, 428 applications for 7,37,562 equity shares were rejected due to technical reasons. The total number of valid applications stood at 2,251 for 7,10,40,549 rights equity shares. The basis of allotment was finalised on Monday, May 04, 2026 in consultation with the Registrar to the Issue and BSE, the Designated Stock Exchange.

The following table summarises the applications received and allotment made across investor categories:

Category: Applications (No.) Applications (%) Shares Applied (No.) Shares Applied Value (Rs.) Shares Applied (%) Shares Allotted (No.) Shares Allotted Value (Rs.) Shares Allotted (%) Eligible Equity Shareholders 2183 81.48 70414148 704141480 98.10 13959833 139598330 99.06 Renouncees 94 3.50 1064971 10649710 1.48 132063 1320630 0.94 Not an Eligible Shareholder 402 15.00 298992 2989920 0.42 0 0 0 Total 2679 100 71778111 717781110 100 14091896 140918960 100

Basis of Allotment

The table below presents the category-wise breakdown of valid applications considered and shares allotted:

Category: Valid Applications Considered Shares Allotted Against Rights Entitlements (A) Shares Allotted Against Additional Shares Applied (B) Total Shares Allotted (A+B) Eligible Equity Shareholders 2158 11001739 2958094 13959833 Renouncees 93 132063 0 132063 Total 2251 11133802 2958094 14091896

Capital Structure Changes

Consequent to the allotment, the paid-up equity share capital of the company has effectively doubled. The pre and post-issue share capital details are as follows:

Particulars: No. of Equity Shares Amount (Rs.) Paid-up Share Capital (Pre-Rights Issue) 1,40,91,896 14,09,18,960 Paid-up Share Capital (Post-Rights Issue) 2,81,83,792 28,18,37,920

Post-Allotment Timeline

Key post-allotment milestones and their respective dates are outlined below:

Milestone: Date Basis of Allotment Finalised Monday, May 04, 2026 ASBA Unblocking Instructions to SCSBs Monday, May 04, 2026 Listing Application Filed with BSE & NSE Tuesday, May 05, 2026 Listing Approval Received Wednesday, May 06, 2026 Allotment Advice / Demat Credit Completed Thursday, May 07, 2026 Newspaper Advertisement Published Friday, May 08, 2026 Expected Commencement of Trading Tuesday, May 12, 2026

The rights equity shares allotted are expected to commence trading on BSE Limited and NSE Limited on or about Tuesday, May 12, 2026, under ISIN INE843B01013, the same as the existing equity shares. No physical shares were tendered in the rights issue. The allotment was approved by the Board of Directors at its meeting held on April 04, 2026, conducted in consultation with Purva Sharegistry India Limited as Registrar to the Issue.

Regulatory Compliance

The company has complied with the disclosure requirements under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The newspaper publication was made pursuant to Regulation 92(1) of the SEBI ICDR Regulations. The Letter of Offer is available on the websites of BSE Limited, NSE Limited, Purva Sharegistry India Limited, and the company's official website at https://www.maharashtraapex.com/ .

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