Banka BioLoo's subsidiary, Megaliter, to raise capital; shareholding to dilute to 70%

* Megaliter Varunaa Private Limited, a subsidiary of Banka BioLoo, is proposing to raise fresh capital from external investors to accelerate growth in developing operating assets for wastewater treatment. * The proposed capital raise will result in a dilution of Banka BioLoo's shareholding in Megaliter from 92.50% to 70% over the fund-raising period. * Banka BioLoo will remain the largest shareholder in Megaliter, and there will be no change in control over the subsidiary. * Banka BioLoo will enter into a Restated and Amended Shareholders’ Agreement with Megaliter and external investors. * External investors include Old Bridge Capital Management Private Limited, Micro Strategies Fund (Category III SEBI registered AIF), and Massachusetts Institute of Technology (SEBI registered FPI). * The agreement grants the external investors the right to appoint a director. * All parties to the agreement will have pre-emptive rights to subscribe to new offers on a pro-rata basis.