Sobhagya Mercantile Incorporates Vadakhol Asoli Mining Private Limited as Subsidiary for Composite Mining Operations

Sobhagya Mercantile Limited has incorporated a new subsidiary, Vadakhol Asoli Mining Private Limited, on 25th April, 2026, in Nagpur, as disclosed to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The development follows the outcome of a board meeting held on 14th November, 2025, and a subsequent intimation letter dated 17th November, 2025. The Ministry of Corporate Affairs (MCA) approval for the incorporation was received on 25th April, 2026.

Key Details of the Newly Incorporated Subsidiary

The following table summarises the key parameters of Vadakhol Asoli Mining Private Limited as disclosed under Annexure A:

Parameter: Details Name: Vadakhol Asoli Mining Private Limited CIN: U07299ME2026PTC474604 Date of Incorporation: 25th April, 2026 Place of Incorporation: Nagpur Industry: Composite Mining Authorized, Issued & Paid-up Capital: Rs. 10,00,000/- (1,00,000 Equity Shares of ₹10/- each) Turnover: Not applicable (newly incorporated) Country of Operations: India MCA Approval Date: 25th April, 2026

Shareholding Structure

Sobhagya Mercantile Limited, as the Lead Member, holds a 60% stake in the newly incorporated subsidiary through a cash consideration. The remaining 40% is held by Caliber Mining and Logistics Limited. The table below outlines the shareholding breakdown:

Shareholder: Equity Shares Shareholding (%) Sobhagya Mercantile Limited (Lead Member): 60,000 Equity Shares of Rs. 10/- each 60% Caliber Mining and Logistics Limited: 40,000 Equity Shares of Rs. 10/- each 40%

The initial subscription of Rs. 10,00,000/- to the share capital does not fall within the purview of a Related Party Transaction for the company. Consequent to the incorporation, Vadakhol Asoli Mining Private Limited has become a subsidiary and, as such, a related party of Sobhagya Mercantile Limited. The transaction for subscription to equity share capital has been carried out on an arm's length basis. Save and except as mentioned, the promoters, promoter group, and group companies are not interested in the transaction.

Business Objects and Scope of Operations

Vadakhol Asoli Mining Private Limited has been incorporated to operate in the composite mining sector, with a focus on critical minerals. The key business objects of the subsidiary include:

Obtaining composite licenses, prospecting, exploring, developing, and mining for nickel (Ni), chromium (Cr), cobalt (Co), and other associated critical minerals and ores in the Vadakhol Asoli Mineral Block, Maharashtra, or elsewhere, including geological reporting, mining plans, statutory permissions, land acquisition, drilling, excavation, beneficiation, processing, refining, transportation, supply, and sale of such minerals on a revenue-sharing basis with AMDCL in connection with the Letter of Award bearing Number AMDC/P/528/2024-25 dated 13.11.2025 awarded by Assam Mineral Development Corporation Limited (AMDCL), Guwahati, Assam.

Purchasing, leasing, or otherwise acquiring mining rights, concessions, composite licenses, claims, lands, properties, and interests in mineral blocks, particularly for critical minerals like nickel, chromium, cobalt, and associated minerals.

Entering into agreements, joint ventures, revenue-sharing arrangements, or contracts with government entities and corporations, including Assam Mineral Development Corporation Ltd., for mining development operations in compliance with the Mines and Minerals (Development and Regulation) Act, 1957, and related rules.

Manufacturing, processing, beneficiating, importing, exporting, trading, marketing, and dealing in minerals, ores, metals, concentrates, and by-products derived from nickel, chromium, cobalt, and associated minerals, including ferro alloys, chemicals, and value-added products.

Undertaking research and development, pollution control measures, environmental compliance, human resource development, and ancillary activities for systematic development, conservation, and economic utilisation of mineral resources.

Regulatory Disclosure

The intimation has been filed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, read with SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The disclosure was signed by Shrikant Mitesh Bhangdiya, Managing Director (DIN-02628216) of Sobhagya Mercantile Limited, on 5th May, 2026.

Sobhagya mercantile Limited has disclosed a substantial acquisition of shares by LEGENDS GLOBAL OPPORTUNITIES (SINGAPORE) PTE. LTD., a foreign entity, under Regulation 29 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The Singapore-based acquirer has obtained a significant stake in the BSE-listed company through preferential allotment.

Acquisition Details

The transaction involved the acquisition of 6,50,500 equity shares, representing 6.67% of Sobhagya Mercantile's total share capital. The acquisition was completed through preferential allotment of equity shares pursuant to convertible warrants, with the transaction date recorded as 27th March 2026.

Parameter: Details Acquirer: LEGENDS GLOBAL OPPORTUNITIES (SINGAPORE) PTE. LTD. Shares Acquired: 6,50,500 Percentage Stake: 6.67% Mode of Acquisition: Preferential allotment pursuant to convertible warrants Transaction Date: 27th March 2026

Share Capital Impact

The acquisition resulted in an expansion of Sobhagya Mercantile's equity share capital. Prior to the transaction, the company had an equity share capital of Rs 8,70,00,000, comprising 87,00,000 equity shares of Rs. 10 each. Following the preferential allotment, the equity share capital increased to Rs. 9,74,85,000, with the total number of equity shares rising to 97,48,500.

Metric: Before Acquisition After Acquisition Equity Share Capital: Rs 8,70,00,000 Rs 9,74,85,000 Number of Shares: 87,00,000 97,48,500 Face Value per Share: Rs. 10 Rs. 10

Regulatory Compliance

The disclosure was made in accordance with SEBI regulations governing substantial acquisitions. LEGENDS GLOBAL OPPORTUNITIES (SINGAPORE) PTE. LTD. is not part of the promoter or promoter group of Sobhagya Mercantile Limited. The company's shares are listed on BSE Limited.

Prior to this acquisition, the Singapore entity held 6,50,500 warrants or convertible securities representing 6.67% of the diluted share capital. The current transaction involved the conversion of these instruments into equity shares, maintaining the same percentage holding but converting the nature of the investment from convertible instruments to direct equity participation.

Transaction Structure

The acquisition was structured as a preferential allotment, a common method for companies to raise capital from specific investors. The disclosure was signed by Indranathsingh Seewooruttun, Director of LEGENDS GLOBAL OPPORTUNITIES (SINGAPORE) PTE. LTD., and dated 30th March 2026 from Ebene, Mauritius.

This transaction represents a strategic investment by the foreign entity in the Indian company, expanding Sobhagya Mercantile's shareholder base with international participation while providing additional capital to the company through the preferential allotment process.

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