Outcome of Board Meeting

Ashapura Intimates Fashion Limited CIN: L17299MH2006PLC163133 Registered Office: Shop No 3-4 Ground Floor, Pacific Plaza, Plot No 507, TPS IV, Off B.S. Road, Mahim Division, Dadar-W, Mumbai, Maharashtra, India, 400028 Corporate Office: C-806, Titanium City Centre, Nr. Sachin Tower, 100 ft Anand Nagar Road, Satellite, Manekbag, Ahmedabad, Gujarat, India, 380015 ✉ ashapuraintimatesfashionltd@gmail.com| 🌐 ashapuraintimates.in|📞 +91-8460775708 Date: 24-09-2026 To, To, BSE Limited National Stock Exchange of India Limited P J Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Fort, Mumbai - 400 001. Bandra (East), Mumbai - 400 051. Scrip Code: 535467 SYMBOL: AIFL Dear Sir/Madam, Subject: Outcome of Board Meeting of Ashapura Intimates Fashion Limited (“the Company”) held on Thursday, 24th September 2026. -------------------------------------------------------------------------------------------------------------------------- Pursuant to the Regulation 30 of SEBI (LODR) Regulation, 2015 and with reference to the captioned subject, we hereby submit the Outcome of the Meeting of the Board of Directors of the Company, which was held on today i.e., Thursday, 24th September 2026, to, inter alia, transacted and approved the following businesses: 1. Considered and Approved the Cancellation and extinguishment entire shareholding of Pre-Liquidation Promoters and Promoter Group as per NCLT Order. The Board of Directors has considered and approved proposal of the cancellation, extinguishment and permanent discharge of 37,20,692 (Thirty-Seven Lakhs Twenty Thousand Six Hundred Ninety-Two) Equity Shares of ₹10/- (Rupees Ten) each held by the pre-liquidation Promoters and Promoter Group of the Company pursuant to the Order passed by the Hon’ble National Company Law Tribunal, Mumbai Bench (“Hon’ble NCLT”), dated 03rd June 2025 and subject to the approval of the necessary authorities. The details relating to pre-liquidation Promoters and Promoter Group and their Shareholding is enclosed as “Annexure-A” 2. Considered and Approved the Capital Reduction of Pre-Liquidation Public Shareholders from the Existing holding to 5,00,000 Equity Shares as per the NCLT Order. The Board of Directors has considered and approved the proposal of cancellation, extinguishment and permanent discharge of 2,14,90,714 (Two Crore Fourteen Lakh Ninety Thousand Seven Hundred Fourteen) Equity Shares of ₹10/- (Rupees Ten) each held by the pre-liquidation Public Shareholders of the and upon such effect to the cancellation, extinguishment and permanent discharge of 2,14,90,714 Equity Shares of ₹10/- each held by the pre-liquidation Public Shareholders, the Board of Director of the Company further authorized to issue and allot 5,00,000 (Five Lakh) new Equity Shares of ₹10/- (Rupees Ten) Ashapura Intimates Fashion Limited CIN: L17299MH2006PLC163133 Registered Office: Shop No 3-4 Ground Floor, Pacific Plaza, Plot No 507, TPS IV, Off B.S. Road, Mahim Division, Dadar-W, Mumbai, Maharashtra, India, 400028 Corporate Office: C-806, Titanium City Centre, Nr. Sachin Tower, 100 ft Anand Nagar Road, Satellite, Manekbag, Ahmedabad, Gujarat, India, 380015 ✉ ashapuraintimatesfashionltd@gmail.com| 🌐 ashapuraintimates.in|📞 +91-8460775708 each, fully paid-up, to the eligible existing Public Shareholders of the Company, in the ratio of 1 (One) new Equity Share in place of every 43 (Forty-One) existing Equity Shares held by them, whose names appear in the Register of Members of the Company as on Record Date as per the Order passed by the Hon’ble National Company Law Tribunal, Mumbai Bench (“Hon’ble NCLT”), dated 03rd June 2025 and subject to the approval of the necessary authorities. Further the Record Date may be determined and Communicated by the Company on Later. The details relating to the Capital Structure of the Company (Pre and Post Reduction of Shares) and Shareholding Pattern of the Company (Pre and Post Reduction of Shares) is enclosed as “Annexure-B” 3. Considered and Approved the Issue of 95,00,000 New Equity Shares as per the NCLT Order. The Board of Directors has considered and approved the issue and allotment of 95,00,000 (Ninety-Five Lakh) new Equity Shares of ₹10/- (Rupees Ten) each, fully paid-up, to nominee of the Successful Bidder as decided by newly constituted board, on a preferential basis pursuant to the Order passed by the Hon’ble National Company Law Tribunal, Mumbai Bench (“Hon’ble NCLT”), dated 03rd June, 2025 and the Sale Certificate issued by the Liquidator and subject to the approval of necessary authorities. Further newly constituted Board also decided the said nominee will consider as a Promoter of the Company. The details relating to issue and allotment of Equity Shares on a Preferential Basis as required under Regulation 30 of SEBI (LODR) Regulations, 2015 read with circular dated September 9, 2015, is enclosed as “Annexure-C” The meeting started at 05:00 PM and concluded at 06:10 PM Kindly take the same on your records and acknowledge the receipt. Thanking you, For, Ashapura Intimates Fashion Limited Nikunj Shah Managing Director DIN: 09677879 Ashapura Intimates Fashion Limited CIN: L17299MH2006PLC163133 Registered Office: Shop No 3-4 Ground Floor, Pacific Plaza, Plot No 507, TPS IV, Off B.S. Road, Mahim Division, Dadar-W, Mumbai, Maharashtra, India, 400028 Corporate Office: C-806, Titanium City Centre, Nr. Sachin Tower, 100 ft Anand Nagar Road, Satellite, Manekbag, Ahmedabad, Gujarat, India, 380015 ✉ ashapuraintimatesfashionltd@gmail.com| 🌐 ashapuraintimates.in|📞 +91-8460775708 “ANNEXURE-A” Details of Pre-Liquidation Promoters and Promoter Group of the Company S.N. Name of Members Category No. of Shares 1 Harshad Hirji Thakkar Promoter 27,40,974 2 Darshana Harshad Thakkar Promoter 1,03,200 3 Rasiklal Liladhar Thakkar Promoter 2,13,759 4 Ranjan Rasiklal Thakkar Promoter 3,05,759 5 Rupal Rasiklal Thakkar Promoter 3,57,000 Total 37,20,692 Ashapura Intimates Fashion Limited CIN: L17299MH2006PLC163133 Registered Office: Shop No 3-4 Ground Floor, Pacific Plaza, Plot No 507, TPS IV, Off B.S. Road, Mahim Division, Dadar-W, Mumbai, Maharashtra, India, 400028 Corporate Office: C-806, Titanium City Centre, Nr. Sachin Tower, 100 ft Anand Nagar Road, Satellite, Manekbag, Ahmedabad, Gujarat, India, 380015 ✉ ashapuraintimatesfashionltd@gmail.com| 🌐 ashapuraintimates.in|📞 +91-8460775708 “ANNEXURE-B” The Capital Structure of the Company (Pre and Post Reduction of Shares) Particulars Pre-Reduction Particulars Post-Reduction* Authorized Share Capital 3,90,00,000 Equity 39,00,00,000/- 3,90,00,000 Equity 39,00,00,000/- Shares of Rs. 10/- each Shares of Rs. 10/- each Issued, Subscribed and Paid-up Capital of the Company 2,52,11,406 Equity 25,21,14,060/- 1,00,00,000 Equity 10,00,00,000 Shares of Rs. 10/- each Shares of Rs. 10/- each Shareholding Pattern of the Company (Pre and Post Reduction of Shares) Category Prior to Reduction Post Reduction* No. of Shares % of Holding No. of Shares % of Holding Promoter and Promoter’s 37,20,692 14.76 95,00,000* 95.00 Group Public 2,14,90,714 85.24 5,00,000 5.00 Total 2,52,11,406 100.00 1,00,00,000 100.00 Note: The Post-Capital Structure and Post-Shareholding Pattern have been calculated assuming the reduction of the pre-liquidation share capital held by the Promoter and Promoter Group and Public Shareholders, along with the allotment of 5,00,000 Equity Shares to the Existing Public Shareholders on a pro-rata basis and the allotment of 95,00,000 new Equity Shares to the Promoter Category Allottees. Ashapura Intimates Fashion Limited CIN: L17299MH2006PLC163133 Registered Office: Shop No 3-4 Ground Floor, Pacific Plaza, Plot No 507, TPS IV, Off B.S. Road, Mahim Division, Dadar-W, Mumbai, Maharashtra, India, 400028 Corporate Office: C-806, Titanium City Centre, Nr. Sachin Tower, 100 ft Anand Nagar Road, Satellite, Manekbag, Ahmedabad, Gujarat, India, 380015 ✉ ashapuraintimatesfashionltd@gmail.com| 🌐 ashapuraintimates.in|📞 +91-8460775708 “ANNEXURE-C” The [Showing first 8,000 characters — download PDF for full document]