Notice of EGM Scheduled to be held on Friday, January 16, 2026 through VC/OAVM.
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Awaiting price reaction for this filing.
PMC Fincorp has called an Extraordinary General Meeting on January 16, 2026 at 11:00 AM (held via video conferencing) to seek shareholder approval on two key items. The first is the appointment of M/s Sunil K. Gupta & Associates as the new Statutory Auditor to fill the casual vacancy caused by the resignation of M/s Pankaj Gupta & Co., who stepped down citing increased fees (resignation dated November 14, 2025). The second and more significant item is a proposal to issue up to 9 crore (9,00,00,000) Fully Convertible Warrants at Rs. 2.62 each on a preferential basis to six non-promoter allottees, raising up to Rs. 23.58 crore. The largest allottees are Subhash Phootarmal Rathod (4.4 crore warrants) and Stellant Securities (India) Limited (2 crore warrants). Each warrant is convertible into one equity share of Re. 1 face value within 18 months, with 25% upfront payment and the rest on conversion. The company plans to use Rs. 22 crore to augment its capital base as an NBFC and Rs. 1.58 crore for general corporate purposes.
Existing shareholders should note that if all warrants are converted, the equity base could expand by up to 9 crore shares, leading to significant dilution depending on current share count and conversion rate. The capital infusion of Rs. 23.58 crore would strengthen PMC Fincorp's NBFC operations, but the low issue price of Rs. 2.62 per share suggests it is being priced near current market levels, so direct dilution-related share price impact may be limited. The change of auditor due to fee disagreements is routine and not expected to materially affect the stock.