AAR SHYAM : IDC DEEMS RS 8.76 CR OPEN OFFER FOR 26% STAKE AT RS 15/SHARE FAIR

• Committee of Independent Directors recommends the open offer as fair and reasonable • Acquirers Mr. Radha Krishna Avudari, Mrs. Sudha Rani Avudari and Mr. Nagabhyru Srikanth to acquire up to 58,43,327 equity shares • That equals 26% of the emerging paid-up equity share capital of Aar Shyam India Investment Company • Offer price of ₹15 per equity share of ₹10 each, payable in cash, stated as the highest price among the selected criteria • Offer made under Regulation 3(1) and 4 read with SEBI SAST Regulations; recommendation to be published in newspapers on October 15, 2026 Impact: Neutral (open offer at ₹15/share for 26% stake; no premium, market price or financials disclosed to assess value)

Aar Shyam India Investment Company Ltd

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