KUBER UDYOG : OPEN OFFER FOR 26% STAKE WORTH OVER RS 74 CR

• Acquirers Manav Bahri, Dinesh Popli and Ajay Dutta, with PACs, to buy up to 3.19 Cr equity shares (26.00% of expanded voting share capital) from public shareholders at ₹23.35 per share in cash • RBI letter dated November 06, 2026 accepted the voluntary application to cancel the target company's NBFC certificate of registration • Target allotted 7.63 Cr equity shares at ₹23.10 each to acquirers for consideration other than cash towards acquisition of 100% of Golden Ikon Fleet Management; Golden Ikon to become a wholly owned subsidiary • Also allotted 3.96 Cr equity shares at ₹23.10 each on preferential basis to non-promoters for cash • Additionally allotted 37 lakh fully convertible equity warrants at ₹23.10 each to non-promoters, convertible into equal number of shares within 18 months • Allotments approved by the board on October 28, 2026; credit of securities subject to BSE listing and trading approval Impact: Neutral (open offer at ₹23.35 plus large preferential share and warrant issuance reshapes capital base, while Golden Ikon becomes a wholly owned subsidiary)

Kuber Udyog Ltd

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