Almondz Global Securities Limited has informed the Exchange regarding Notice of undefined to be held on March 27, 2026
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Almondz Global Securities has called an Extra-Ordinary General Meeting on Friday, March 27, 2026, at 11:00 AM (via video conferencing) to seek shareholder approval for issuing up to 80 lakh (80,00,000) fully convertible warrants at Rs. 16.58 each, aggregating to about Rs. 13.26 crore. The entire preferential issue is proposed to be allotted to a single non-promoter investor, Nandakumar Padma. Each warrant is convertible into one equity share of Rs. 1 face value at a premium of Rs. 15.58, with 25% payable upfront and 75% on conversion, exercisable within 18 months. The company intends to use the proceeds towards working capital (Rs. 8 crore), proprietary trading (Rs. 3.5 crore), and general corporate purposes (Rs. 1.76 crore). The Board approved the proposal on February 25, 2026, and the relevant date for pricing was February 24, 2026.
If approved by shareholders, the preferential issue will lead to equity dilution upon full warrant conversion and bring in roughly Rs. 13.26 crore of capital, which can be deployed for business growth. The stock may see short-term sentiment impact due to the warrants being priced below market, but the fundraise strengthens the company's working capital and trading capacity.