Emkay Global Financial Services Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on October 17, 2025
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Emkay Global Financial Services has called an Extraordinary General Meeting on October 17, 2025 to seek shareholder approval for two key items: (1) amending the Articles of Association to allow issuance of convertible warrants and securities, and (2) issuing up to 95 lakh convertible warrants at ₹239.50 per warrant, potentially raising up to ₹227.52 crore. The warrants are proposed to be allotted to three specific allottees on a preferential basis — Antique Securities Private Limited (non-promoter, 75 lakh warrants for ₹179.62 crore), promoter Krishna Kumar Karwa (12.5 lakh warrants for ₹29.94 crore), and promoter Prakash Kacholia (7.5 lakh warrants for ₹17.96 crore). Each warrant can be converted into 1 equity share of ₹10 face value at a ₹229.50 premium within 18 months. Issue proceeds are earmarked for working capital (₹202.52 crore) and general corporate purposes (₹25 crore), to be deployed by June 30, 2027. Remote e-voting window is October 14–16, 2025, with cut-off date of October 10, 2025.
If approved, this will result in potential equity dilution of up to 95 lakh shares (roughly 9-10% on expanded basis) once warrants are exercised. The issue signals promoter confidence (₹47.9 crore participation by two promoters) alongside a large institutional infusion from Antique Securities, which may be viewed positively as a validation of the company's prospects, though existing shareholders should watch for the dilution effect on EPS over the 18-month conversion window.