Arihant Capital Markets Limited has informed the Exchange about General Updates
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Arihant Capital Markets has issued a corrigendum to the EGM notice originally dispatched on July 28, 2025, ahead of the EGM scheduled for August 21, 2025. The corrigendum provides additional disclosures related to a proposed preferential allotment of equity shares worth ₹91.35 crore. The proposed allottees are Preeti Mahapatra (4.18%), Harihara Mahapatra (4.18%), and Premadevi Taparia (0.42%) on a post-preferential basis (assuming warrant conversion). The company has detailed the use of proceeds: ₹45.67 crore for business growth, expansion, technology and infrastructure upgrade; ₹27.41 crore for working capital and capital expenditure; and ₹18.27 crore for general corporate purposes, to be deployed within 12 months. Post-issue shareholding will increase from 10.41 crore to 11.46 crore shares (or 11.96 crore assuming conversion of 50 lakh outstanding warrants), with promoter holding reducing from 69.81% to 63.41% (or 64.94% with warrant conversion).
This is a correction/addition to an already disclosed preferential issue, so the news flow is incremental rather than new. The allotment, if approved, will dilute existing public shareholders' stake from 30.19% to 36.59% (public share count rises). The disclosed use of proceeds indicates the company plans to expand broking operations and upgrade technology, which is positive for long-term growth but the 10% flexibility in fund deployment and possible change of objects give the Board wide discretion.