Systematix Corporate Services Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer for the attention of the Equity Shareholders of Kuber Udyog Ltd ("Target Company").

October 19, 2026 The Manager BSE Limited (“BSE”) Phiroze Jeejeebhoy Towers, Dalal Street, Fort Mumbai - 400 001, India Dear Sir, Sub: Submission of Letter of Offer (“LOF”) Ref: Open Offer to acquire up to 3,19,71,680 fully paid-up Equity Shares of face value of Rs. 10/- each of Kuber Udyog Limited (“Target Company”), representing 26.00% of the Expanded Voting Share Capital of the Target Company, by Mr. Manav Bahri (“Acquirer 1”), Mr. Dinesh Popli (“Acquirer 2”) and Mr. Ajay Dutta (“Acquirer 3”) (collectively, the “Acquirers”), along with Trimudra Trade & Holdings Private Limited (“PAC 1”) and Ms. Shraddha Gohil (“PAC 2”) (collectively, the “PACs”), at a price of Rs. 23.35/- per Equity Share, payable in cash, pursuant to Regulations 3(1) and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended. On receipt of the SEBI final Observations Letter dated October 09, 2026 and with reference to the subject mentioned above, we have carried out amendments in the Draft Letter of Offer (“DLOF”) in accordance with the observations contained in the aforesaid letter. Please find enclosed a copy of the Letter of Offer dated October 17, 2026, which is scheduled for dispatch to the equity shareholders of the Target Company (except the Acquirers and the PACs) on or before October 21, 2026. Kindly acknowledge the same and take this to your records. Thanking You, Yours truly, For Systematix Corporate Services Limited Amit Kumar Director- Investment Banking Encl: As above. CC: 1. Kuber Udyog Limited 2. Acquirers and PACs Systematix Corporate Services Limited Registered Office: 206 - 207, Bansi Trade Centre, 581/5, M. G. Road, Indore - 452 001. Tel: +91-0731-4068253 Corporate Office: The Capital, A-Wing, No. 603 - 606, 6th Floor, Bandra Kurla Complex, Bandra (East), Mumbai -400051. Tel: +91-22-6619 8000 / 4035 8000 Fax: +91-22-6619 8029 /40358029 CIN: L91990MP1985PLC002969 Website: www.systematixgroup.in Email: secretarial@systematixgroup.in SEBI Merchant Banking Registration No.: INM000004224 LETTER OF OFFER THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION This Letter of Offer (“LOF”) is being sent to you as a Public Shareholder (as defined below) of Kuber Udyog Limited (“Target Company”). If you require any clarifications about the action to be taken, you may consult your stockbroker or investment consultant or Manager to the Offer / Registrar to the Offer (as defined below). In case you have recently sold your Equity Shares in the Target Company, please hand over this Letter of Offer and the accompanying Form of Acceptance-cum-Acknowledgement (“FOA”) to the Member of the Stock Exchange through whom the said sale was effected. OPEN OFFER (“OFFER”) This Offer is being made pursuant to Regulations 3(1) and 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended (“the SEBI (SAST) Regulations”) for the acquisition of up to 3,19,71,680 (Three Crore Nineteen Lakh Seventy-One Thousand Six Hundred and Eighty) fully paid-up Equity Shares having face value of ₹10 each (as defined below), representing 26.00% of the Expanded Voting Share Capital (as defined below) of the Target Company (“the Offer Size”) in accordance with the SEBI (SAST) Regulations at a price of ₹23.35 (Rupees Twenty-Three and Paise Thirty-Five only) per Equity Share (“the Offer Price”), payable in cash. Mr. Manav Bahri (“Acquirer 1”) Address: D-245, Sushant Lok-I, Gurugram, Haryana – 122001, India. Contact No.: +91 98111 67367; Email: manav.bahri@goldenikon.com Mr. Dinesh Popli (“Acquirer 2”) Address: Building 3, Flat No. 2A, The Hibiscus Apartments, Near Baani Square, Sector-50, Nirvana Country, Gurgaon, Haryana – 122018, India. Contact No.: +91 98112 42422; Email: dinesh.popli@goldenikon.com Mr. Ajay Dutta (“Acquirer 3”) Address: The Hibiscus, Building No. 9, Flat No. 11B, Near Baani Square, Sector 50, Nirvana Country, Gurugram, Haryana – 122018, India. Contact No.: +91 98338 10924; Email: Ajaydutta70@yahoo.com (hereinafter Acquirer 1, Acquirer 2 and Acquirer 3 collectively referred to as “Acquirers”) Trimudra Trade & Holdings Private Limited (“PAC 1”) Address: C-201, 2nd Floor, Kohinoor Apartment, C & D Wing, Ranade Road, Dadar (West), Mumbai – 400028, Maharashtra.; CIN: U65999MH1989PTC469539 Contact No.: +91 8169451606; Email: trimudra84@gmail.com Ms. Shraddha Gohil (“PAC 2”) Address: 1901, Ashok Garden, A Wing, T. J. Road, Near Mint Colony Monorail Station, Sewri, Mumbai, Mumbai City, Maharashtra – 400015, Maharashtra. Contact No.: +91 8169451606; Email: trimudra84@gmail.com (hereinafter PAC 1 and PAC 2 collectively referred to as “PACs”) TO THE PUBLIC SHAREHOLDERS OF Kuber Udyog Limited (CIN: L51909MH1982PLC371203) Registered Office: Office No. 156, 1st Floor, Raghuleela Mega Mall, Kandivali (West), Mumbai – 400067, Maharashtra, India. Contact No.: +91 75063 24443; Email: kuberudyoglimited@gmail.com; Website: www.kuberudyog.com 1) This Offer is neither conditional upon any minimum level of acceptance in terms of Regulation 19 of the SEBI (SAST) Regulations nor is it a competing offer in terms of Regulation 20 of the SEBI (SAST) Regulations. 2) As on the date of this LOF, there are no statutory or other approvals required by the Acquirers and the PACs to acquire the Equity Shares validly tendered by the Public Shareholders pursuant to the Offer. The application submitted by the Target Company to the Reserve Bank of India (“RBI”) for voluntary surrender of its Certificate of Registration (“CoR”) as a Non-Banking Financial Company (“NBFC”) is pending approval with the RBI. However, in case any statutory approvals are required by the Acquirers and the PACs prior to the closure of the Tendering Period, this Offer shall be subject to such approvals being obtained. 3) The Offer Price may be subject to upward revision, if any, pursuant to the SEBI (SAST) Regulations or at the discretion of the Acquirers and the PACs at any time prior to the commencement of the last one (1) Working Day before the commencement of the Tendering Period, in accordance with Regulation 18(4) of the SEBI (SAST) Regulations. If there is any upward revision in the Offer Price/Offer Size at any time up to one (1) working day prior to the commencement of the Tendering Period in terms of the SEBI (SAST) Regulations, the same would be informed by way of an announcement in the same newspapers where the Detailed Public Statement (‘DPS’) was released and simultaneously also be informed to SEBI, the Stock Exchange and the Target Company at its registered office. Such revised Offer Price would be payable to all the Shareholders, who have validly tendered their Equity Shares anytime during the Tendering Period to the extent their Equity Shares have been verified and accepted under the Offer, by the Acquirers and PAC. If the Offer is withdrawn pursuant to Regulation 23 of SEBI (SAST) Regulations, the same would be communicated within two (2) working days by an announcement in the same newspapers in which the DPS is published. In the event of such revision, the Acquirers and the PAC shall make corresponding increase to the Escrow Amount. However, the Acquirers and the PAC shall not acquire any Equity Shares after the third (3rd) Working Day prior to the commencement of the Tendering Period, and until the expiry of the Tendering Period. The same price shall be payable by the Acquirers and PAC for all the Equity Shares tendered anytime during the Offer. 4) There is no competing offer to this Offer. 5) A copy of the Public Announcement, Detailed Public Statement, Draft Letter of Offer and Letter of Offer(including Form of Acceptance-cum-Acknowledgement) will be available on the website of Securities and Exchange Board of India (“SEBI”) at www.sebi.gov.in, the website of BSE Limited at www.bseindia.com, the website of the Target Company at www.kuberudyog.com and the website of the Manager to the Offer at www.systematixgroup.in. [Showing first 8,000 characters — download PDF for full document]