The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for GCM Capital Advisors Ltd & Others

November10,2026 DM-CorporateServices BSELimited P.J.Towers DalalStreet,Fort Mumbai–400001 DearSir, Re:ScripCode:530557(NCLResearchAndFinancialServicesLtd) Sub:SubmissionofdetailsofAcquisition/SaletoStockExchange/Companyu/r29(2) RespectedSir, Withreferencetotheabovecaptionedmatter,weareenclosingalongwiththisletter,details ofacquisitionofsharestoStockExchangesbyTargetCompany,intermsofRegulation29(2) (DisclosureunderSASTRegulation2011). Kindlytakethesameonyourrecord&oblige. ThankingYou, YoursFaithfully, ForGCMCAPITALADVISORSLIMITED MANISHBAID,DIRECTOR ONBEHALFOFACQUIRERS C.C.to:M/s.NCLResearchAndFinancialServicesLimited DISCLOSURESUNDERREGULATION29(2)OFSEBI(SUBSTANTIALACQUISITIONOFSHARES ANDTAKEOVERS)REGULATIONS,2011 NameoftheTargetCompany(TC) NCLRESEARCHANDFINANCIALSERVICES LIMITED Name(s)oftheAcquirerandPersonsActinginConcert GCMCapitalAdvisorsLimited (PAC)withtheAcquirer RupasiTradersPrivateLimited BlueLagoonTradingPrivateLimited Whether the Acquirer and PAC belong to the No Promoter/Promotergroup Name(s)oftheStockExchange(s)wherethesharesof BSELimited TCareListed Detailsoftheacquisition/disposalasfollows Number %w.r.t.total %w.r.t. share/voting totaldiluted capital share/voting wherever capitalof applicable(*) theTC(**) Before the acquisition/ allotment/ disposal under consideration,holdingof: k) Sharescarryingvotingrights 8,62,30,000 5.49% 5.49% l) Shares in the nature of encumbrance (pledge/ Nil Nil Nil lien/non-disposalundertaking/others) m) Voting rights (VR) otherwise than by equity Nil Nil Nil shares n) Warrants/convertible securities/ any other Nil Nil Nil instrument that entitles the acquirer to receive shares carrying voting rights in the TC (specify holdingineachcategory) o) Total(a+b+c+d) 8,62,30,000 5.49% 5.49% Detailsofacquisition/allotment/sale: k) Sharescarryingvotingrightsacquired/sold 1,25,000 0.05% 0.05% l) VRs acquired/ sold otherwise than by equity Nil Nil Nil shares m) Warrants/convertible securities/ any other Nil Nil Nil instrumentthatentitlestheacquirertoreceive sharescarryingvotingrights intheTC(specify holdingineachcategory)acquired/sold n) Shares encumbered / invoked/released by the Nil Nil Nil acquirer o) Total(a+b+c+d) 1,25,000 0.01% 1,25,000 Aftertheacquisition/allotment/sale,holdingof: k) Sharescarryingvotingrights 8,61,05,000 5.48% 5.48% l) Sharesencumberedwiththeacquirer Nil Nil Nil m) VRsotherwisethanbyequityshares Nil Nil Nil n) Warrants/ convertible securities/ any other Nil Nil Nil instrumentthatentitlestheacquirertoreceive sharescarryingvotingrights intheTC(specify holdingineachcategory)afteracquisition/sale o) Total(a+b+c+d) 8,61,05,000 5.48% 5.48% Mode of acquisition/ allotment/ sale (e.g. open Allotment(RightIssue) market/ off-market/ public issue/ rights issue/ preferentialallotment/inter-setransferetc.) Date of acquisition / sale or date of receipt of 9thNovember2026 intimation of allotment of shares/ VR/ warrants/ convertible instruments/ any other instrument that entitlestheacquirertoreceivesharesintheTC Equity share capital / total voting capital of the TC 156.98144Crore beforethesaidacquisition/allotment/sale Equitysharecapital/totalvotingcapitaloftheTCafter 156.98144Crore thesaidacquisition/allotment/sale Totaldiluted**share/votingcapitaloftheTCafterthe 156.98144Crore saidacquisition/allotment/sale (*)Totalsharecapital/votingcapitaltobetakenasperthelatestfilingdonebythecompanytotheStock ExchangeunderClause35ofthelistingAgreement. (**)Dilutedshare/votingcapitalmeansthetotalnumberofsharesintheTCassumingfullconversionof theoutstandingconvertiblesecurities/warrantsintoequitysharesoftheTC. ForGCMCAPITALADVISORSLIMITED MANISHBAID,DIRECTOR DIN:00239347 Place:Mumbai Date: November10,2026 Part-B*** NameofTargetCompany:NCLResearchAndFinancialServicesLtd Name(s)oftheacquirerandPersons Whethertheacquirer PANoftheacquirerand/or ActinginConcert(PAC)withthe belongstoPromoter/ PACs acquirer Promotergroup GCMCapitalAdvisorsLimited No AAFCG1712P RUPASITRADERSPRIVATELIMITED No AADCR1908C BLUETRADINGPRIVATELIMITED No AADCB1014B SignatureoftheAcquirers Place:Mumbai Date: November10,2026