Emkay Global Financial Services Limited has informed the Exchange about issue of Securities

Fund Raising View source PDF Explain this filing

EMKAY · price

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Price reactionminutes from the announcement price · days from the prior close

+20.0%Reaction day

₹315.57

prior close

₹328.78

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.3%+20.3% vs market

Stockbroking & Allied peers, median of 33sector-0.6%+20.6% vs sector

On the reaction day the stock moved 20.3 pts more than Nifty Microcap 250 and 20.6 pts more than its Stockbroking & Allied peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-3.6

10m

-7.8

15m

-6.3

30m

-3.9

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+20.0-0.3+20.3-0.6+20.6

Next day

+19.1-0.6+19.8-2.0+21.2

+8.2-1.7+9.9-1.3+9.5

+2.8-3.8+6.6-3.0+5.8

+5.7-4.6+10.3-2.3+8.0

+0.5-5.0+5.4-1.7+2.1

+0.7-2.4+3.1-1.6+2.3

15d

+2.5-3.0+5.5-3.1+5.6

+5.3-1.4+6.7-2.2+7.5

-7.4-4.9-2.6-6.4-1.0

-16.0-5.9-10.1-2.3-13.7

UpDownMarket · Nifty Microcap 250Sector · Stockbroking & Allied peers, median of 33Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Emkay Global Financial Services' board has approved issuing up to 95 lakh convertible warrants at Rs. 239.50 per warrant, on a preferential basis, to raise up to Rs. 227.5 crore. Each warrant can be converted into 1 equity share of Rs. 10 face value within 18 months, with 25% payable upfront and 75% on exercise. The issue price is marginally above the SEBI floor price of Rs. 239.36 per share. The warrants are proposed to be allotted to 3 investors: Antique Securities Private Limited (non-promoter, 75 lakh warrants for ~Rs. 179.6 crore), promoter Krishna Kumar Karwa (12.5 lakh warrants for ~Rs. 30 crore), and promoter Prakash Kacholia (7.5 lakh warrants for ~Rs. 18 crore). Post-conversion, Antique Securities would hold a 21.36% stake in the company. An EGM is scheduled for October 17, 2025, to seek shareholder approval.

Likely market impact

This is a significant capital raise that will dilute existing shareholders, with a single non-promoter entity (Antique Securities, linked to the Doshi family) set to become a major 21.36% shareholder. Promoter participation signals confidence, but the low premium to floor price and the size of the new non-promoter stake may weigh on sentiment in the short term until the warrants are exercised or lapse.