Monitoring Agency Report

Ref: BHL/ STEX 19/ 2026-27 Date: July 20, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers 5th Floor, Exchange Plaza, Dalal Street Bandra Kurla Complex Bandra (East) Mumbai – 400 001 Mumbai-400051 Scrip Code: 539872 Symbol: BAJAJHCARE Sub: Monitoring Agency Report for the quarter ended June 30, 2026 Dear Sir/Madam, Pursuant to Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Regulation 162A of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, we are enclosing herewith Monitoring Agency Report dated July 20, 2026 for the quarter ended June 30, 2026, issued by CARE Ratings Limited, Monitoring Agency with respect to the utilization of proceeds raised through the preferential issue of equity shares and conversion of warrants into equity shares issued on preferential basis. Please take the same on record. Thanking you. Yours faithfully, For and on behalf of Bajaj Healthcare Limited Monica Tanwar Company Secretary & Compliance Officer Encl: as above BAJAJ HEALTHCARE LIMITED Registered Office: 602-606, Bhoomi Velocity Infotech Park, Plot No: B-39, B-39A, B-39A/1, Road No. 23, Wagle Ind. Estate, Thane (West), Thane - 400604 Tel. : + 91 22 66177400/ 401; Fax : +91 22 66177458; E-mail : bajajhealth@bajajhealth.com CIN No. L99999MH1993PLC072892 Monitoring Agency Report No. CARE/HO/GEN/2026-27/1097 The Board of Directors Bajaj Healthcare Limited 602-606, Bhoomi Velocity Infotech Park, Plot No: B-39, B-39A, B-39A/1, Road No. 23, Wagle Ind. Estate, Thane (West), Thane - 400604 July 20, 2026 Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended June 30, 2026, in relation to the Preferential Issue of Bajaj Healthcare Limited (“the Company”) We write in our capacity of Monitoring Agency for the Preferential Issue for the amount aggregating to Rs. 204.97 crore of the Company and refer to our duties cast under regulation 162A of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations. In this connection, we are enclosing the Monitoring Agency Report for the quarter ended June 30, 2026, as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated September 16, 2024. Request you to kindly take the same on records. Thanking you, Yours faithfully, Darshan Shah Associate Director Darshan.Shah@careedge.in Report of the Monitoring Agency Name of the issuer: Bajaj Healthcare Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: CARE Ratings Limited (a) Deviation from the objects: Nil (b) Range of Deviation: Not applicable Declaration: We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects of the issue based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. The MA does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also do not act as an expert as defined under Section 2(38) of the Companies Act, 2013. The MA or its affiliates may have credit rating or other commercial transactions with the entity to which the report pertains and may receive separate compensation for its ratings and certain credit related analyses. We confirm that there is no conflict of interest in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the issuer, or while undertaking credit rating or other commercial transactions with the entity. We have submitted the report herewith in line with the format prescribed by SEBI, capturing our comments, where applicable. There are certain sections of the report under the title “Comments of the Board of Directors”, that shall be captured by the Issuer’s Management / Audit Committee of the Board of Directors subsequent to the MA submitting their report to the issuer and before dissemination of the report through stock exchanges. These sections have not been reviewed by the MA, and the MA takes no responsibility for such comments of the issuer’s Management/Board. Signature: Name and designation of the Authorized Signatory: Darshan Shah Designation of Authorized person/Signing Authority: Associate Director 1) Issuer Details: Name of the issuer : Bajaj Healthcare Limited Name of the promoter : Mr. Sajankumar Rameshwarlal Bajaj Industry/sector to which it belongs : Pharmaceuticals and Biotechnology - Pharmaceuticals 2) Issue Details Issue Period : August 07, 2024, to September 19, 2024 Type of issue (public/rights) : Preferential Issue Type of specified securities : Equity Shares and Convertible Warrants IPO Grading, if any : Not applicable Issue size (in crore) : Rs. 204.97 crore* * The Company had proposed to issue up to 40,44,852 equity shares and 20,79,409 convertible warrants under the preferential issue at Rs. 338 each (including premium of Rs. 333 each), aggregating to Rs. 207.00 crore. However, the equity share portion was marginally undersubscribed, while the warrant portion was fully subscribed. Accordingly, the Company allotted 39,84,852 equity shares and 20,79,409 convertible warrants, resulting in an aggregate issue size of Rs. 204.97 crore. Out of this, the Company had initially received Rs. 152.26 crore, being 100% subscription amount of the allotted equity shares and 25% upfront subscription amount of the warrants. The balance 75% of the warrant issue size of Rs. 70.28 crore, amounting to Rs. 52.71 crore was receivable within 18 months from the date of allotment, i.e. September 19, 2024. During Q4FY26, the warrant holders exercised their conversion option and remitted the aforesaid balance amount of Rs. 52.71 crore, following which the Company allotted 20,79,409 equity shares upon full conversion of the warrants, as approved by the Board on March 18, 2026. The Company also filed Form PAS-3 confirming the allotment and receipt of the balance consideration. 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / certifications Comments of the Comments of the Particulars Reply considered by Monitoring Agency for Board of Monitoring Agency preparation of report Directors CA Certificate*, Management Certificate, Whether all utilization is as per the disclosures in the Offer Bank Statement, Preferential Issue Offer The utilization of proceeds during the Yes No Comment Document? Letter, Corrigendum to Notice of EGM, quarter is as per the offer letter. NSE/BSE Circular on +/- 10% deviation Whether shareholder approval has been obtained in case of material deviations# from expenditures disclosed in the Offer CA Certificate*, and Management Certificate No comment No Comment applicable Document? The preferential issue was marginally undersubscribed, with 39,84,852 Whether the means of finance for the disclosed objects of the Stock exchange, Board approval for equity shares allotted against the Yes No Comment issue have changed? allotment proposed 40,44,852, resulting in a shortfall of 60,000 shares. This led to a reduction in the total expected Source of information / certifications Comments of the Comments of the Particulars Reply considered by Monitoring Agency for Board of Monitoring Agency preparation of report Directors proceeds from ₹207 crore to ₹204.97 crore. There are no deviations reported in Is there any major deviation o [Showing first 8,000 characters — download PDF for full document]