Wakefit Innovations Limited's Board of Directors, in a meeting held on December 19, 2025, has approved several key resolutions, subject to shareholder approval. These include the reclassification of authorized share capital by converting preference shares into equity shares and a consequent alteration to the Memorandum of Association. Furthermore, the Board has approved the continuation of specific clauses from the Shareholders' Agreement (SHA) dated May 13, 2025, and its amendment dated June 25, 2025. These surviving clauses pertain to the 'upside arrangement' and the 'right to nominate directors'. Specifically, promoters Ankit Garg and Chaitanya Ramalingegowda will retain the right to nominate three directors (including themselves as CEO and MD), while Peak XV Partners Investments VI and Elevation Capital VIII Limited will each have the right to nominate one director. The survival of these clauses is subject to compliance with applicable laws post-IPO listing. The company will also issue a Postal Ballot Notice to seek shareholder approval for these matters, including the "Wakefit Employee Stock Option Plan – 2019". Amendments to the Articles of Association are also proposed to reflect these arrangements.