Proposed acquisition of Equity Shares of Ashika Capital Limited.
ASHIKA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Ashika Credit Capital Ltd (BSE: 543766) held a board meeting on May 17, 2026 approving multiple items. The company reported FY2026 profit after tax of Rs. 452.65 lakhs, up from Rs. 423.60 lakhs in FY2025. The board recommended a 5% dividend (Rs. 0.50 per share) subject to shareholder approval. Key corporate actions include: (1) Proposed acquisition of Ashika Capital Limited (ACL) for up to Rs. 22 crore in cash, which will make ACL a wholly-owned subsidiary upon completion by September 30, 2026; ACL is a SEBI-registered Category I Merchant Banker with FY2025 turnover of Rs. 14.97 crores; (2) Statutory auditors changed from DHC & Co (resigned due to RBI ineligibility after company crossed asset thresholds) to J K V S & Co; (3) Ashika Stock Services Limited became a Material Subsidiary; (4) Ashika Global Custodial Services Pvt Ltd ceased to be a subsidiary after the company decided not to invest Rs. 80 crore.
The acquisition of ACL at up to Rs. 22 crore will consolidate Ashika's merchant banking operations under one entity, potentially improving synergies. The related party nature of the transaction (directors common to both companies) on arm's length basis requires monitoring. The auditor change due to RBI compliance is routine for growing NBFCs.