Wherrelz IT Solutions Ltd

Wherrelz IT Solutions Ltd has received a clarification from Sumanlata Dhareshwar regarding a previous disclosure. The initial disclosure on August 21, 2026, was mistakenly stated to be for a preferential issue of warrants. It is now clarified that the disclosure pertains to the open market sale of 8,000 equity shares by Sumanlata Dhareshwar. Following this sale, her direct holding has reduced to 0 shares, while her associate (Chaitanya Bharat Dhareshwar) retains 64,000 shares, representing 16.45% of the company's equity.

Wherrelz IT Solutions Ltd has filed a clarification regarding a previous disclosure. The company states that a disclosure submitted on August 21, 2026, which was mistakenly described as pertaining to a preferential issue of warrants, was actually in respect of the sale of equity shares in the open market. The revised disclosure confirms the sale of 8,000 equity shares by Sumanlata Dhareshwar (and PACs) on August 19, 2026. Following the sale, Sumanlata Dhareshwar's holding reduced to 2.06% of the total share capital, while Chaitanya Bharat Dhareshwar's holding remained at 16.45%. The total holding of the seller and PACs is now 18.51%.

Wherrelz IT Solutions Ltd has received a disclosure under SEBI's Substantial Acquisition of Shares & Takeovers Regulations, 2011, from Sumanlata Dhareshwar and Chaitanya Bharat Dhareshwar. The disclosure pertains to the allotment of equity shares following the conversion of warrants via a preferential issue. Prior to this, Sumanlata Dhareshwar held 2.05% and Chaitanya Bharat Dhareshwar held 16.43% of the company's shares. The filing indicates a sale of 8,000 equity shares by Sumanlata Dhareshwar, resulting in her holding becoming 0%. Chaitanya Bharat Dhareshwar's holding remains unchanged at 16.43%. The total diluted share capital of the company after the transaction is 3,89,600 equity shares.

Sumanlata Dhareshwar and Chaitanya Bharat Dhareshwar, acting as Persons Acting in Concert (PACs) and part of the promoter group, have filed a disclosure under SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. This filing pertains to the allotment of equity shares pursuant to the conversion of warrants by way of preferential issue. Following the transaction, Sumanlata Dhareshwar's direct shareholding decreased from 4.11% to 2.05%, while the combined holding of the PAC group (including Chaitanya Bharat Dhareshwar) after the acquisition stands at 18.48%. The mode of acquisition was a preferential allotment.

Wherrelz IT Solutions Ltd has revised its Notice for the Extra Ordinary General Meeting (EGM) held on May 18, 2026, due to corrections in the preferential issue details. The issue price per equity share has been revised from ₹10.00 to ₹10.07, leading to a reduction in the total number of equity shares to be allotted from 4,67,70,300 to 4,64,45,183. The aggregate consideration remains largely unchanged at ₹46,77,02,993. These revisions are consequential to the correction of the minimum issue price calculation under SEBI (ICDR) Regulations, 2018. The company has stated there is no material change in the structure, object, or overall size of the preferential issue, nor in the control or management of the company.

Wherrelz IT Solutions Ltd held an Extra Ordinary General Meeting (EOGM) on May 18, 2026, where shareholders approved two special resolutions. The first resolution pertained to increasing the authorized share capital and consequent alteration of the Memorandum of Association. The second resolution involved the issuance of up to 46,770,300 equity shares on a preferential basis upon conversion of outstanding unsecured loans to non-promoter category individuals. Both resolutions were passed with 100% of the votes polled in favor.

Wherrelz IT Solutions Ltd issued a corrigendum on May 7, 2026, to its Extra Ordinary General Meeting (EGM) notice dated April 17, 2026. The EGM is scheduled for May 18, 2026, via video conferencing. The corrigendum addresses corrections and modifications related to shareholder approval dates, explanatory statements, loan proceeds utilization, pre-preferential shareholding details, and the status of proposed allottees. All other contents of the original EGM notice remain unchanged. The corrigendum was circulated to shareholders on May 7, 2026, and is available on the company's website.

Wherrelz IT Solutions Ltd will hold an Extra Ordinary General Meeting (EOGM) on May 18, 2026, to approve a significant increase in its authorized share capital. The existing capital of ₹50 lakhs (5 lakh equity shares of ₹10 each) will be raised to ₹48 crores (4.8 crore equity shares of ₹10 each). This expansion is primarily to facilitate the issuance of up to 4,67,70,300 equity shares on a preferential basis. These shares will be allotted to persons belonging to the 'Non-Promoter Category' upon the conversion of outstanding unsecured loans, aiming to strengthen the company's capital structure and reduce debt.

Wherrelz IT Solutions Ltd's Board of Directors approved the audited financial results for the half year and year ended March 31, 2026. The board also proposed a significant increase in the authorized share capital from ₹50 lakhs to ₹48 crores, subject to member approval. Additionally, the company plans to issue up to 4,67,70,300 equity shares of ₹10 each to non-promoters on a preferential basis, for the conversion of outstanding unsecured loans. An Extra-Ordinary General Meeting (EGM) is scheduled for May 18, 2026, to seek shareholder approval for these proposals.

Wherrelz IT Solutions Ltd's Board of Directors approved the Audited Financial Results for the half year and year ended March 31, 2026. The board also proposed to increase the authorized share capital from ₹50 lakhs to ₹48 crores, subject to member approval. Additionally, it approved a preferential issue of up to 4,67,70,300 equity shares of ₹10 each to non-promoters, for converting outstanding unsecured loans into shares, also subject to member and appropriate authority approvals. An Extra-Ordinary General Meeting (EGM) is scheduled for May 18, 2026, to seek member approvals for these proposals.