Affle 3i Limited has informed the Exchange regarding Notice of Postal Ballot
AFFLE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Affle 3i Limited is seeking shareholder approval via postal ballot for four key proposals. First, the company wants to increase its authorised share capital from Rs. 300 million to Rs. 310 million by creating 50 lakh additional equity shares of Rs. 2 each. Second, and most significantly, the company plans to issue up to 74 lakh convertible warrants to promoter Affle Holdings Pte. Ltd. at Rs. 1,487 per warrant, raising Rs. 1,100.38 crore for funding inorganic growth objectives and general corporate purposes. Third, the company proposes to reallocate unutilised proceeds of Rs. 499.10 crore from its earlier Rs. 749.02 crore preferential issue (FY 2023-24), shifting focus from technology development to funding inorganic growth. Fourth, alteration of Articles of Association to permit share issuance for non-cash consideration. E-voting runs from May 12 to June 10, 2026, with results by June 12.
The Rs. 1,100.38 crore warrant issuance to the promoter will lead to significant share dilution (up to 74 lakh new shares) if converted. Shareholders should note the potential voting power shift towards the promoter group and evaluate whether the proposed use of funds for acquisitions justifies the dilution.