Please find the Notice of Postal Ballot attached
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 (e-voting from May 12 to June 10, 2026) for four resolutions. First, the company plans to increase 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 significant, the company proposes to issue up to 74 lakh convertible warrants to promoter Affle Holdings Pte. Ltd. at Rs 1,487 per warrant, aggregating Rs 1,100.38 crores. Each warrant is convertible into one equity share within 18 months at the same price, with 25% payable upfront and 75% on conversion. Third, the company seeks to reallocate Rs 499.10 crores of unutilised proceeds from its Rs 749.02 crore preferential issue raised in FY 2023-24, moving Rs 297.42 crores originally meant for technology development to fund inorganic growth opportunities. Fourth, an amendment to Article 16(a)(iii) of the Articles of Association is proposed.
The Rs 1,100.38 crore warrant issuance to the promoter will significantly dilute existing shareholders upon conversion, while the reallocation of unutilised proceeds signals a shift in strategy from in-house technology development toward acquisitions. Existing shareholders should carefully evaluate the pricing and dilution impact before voting.