Please find attached herewith intimation letter along with EGM notice to be held on Friday 13th March 2026.
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Pune E-Stock Broking Ltd has called an Extraordinary General Meeting (EGM) on Friday, March 13, 2026, via video conferencing, to seek shareholder approval on three resolutions. The key item is a preferential issue of up to 16,00,000 convertible warrants at Rs. 234 each (including Rs. 224 premium), raising up to Rs. 37.44 crores from promoters and non-promoters, with 25% payable upfront and the rest on conversion within 18 months. The proceeds are earmarked for expanding the Margin Trading Facility book (25%), IPO underwriting/anchoring (25%), repaying existing debt (25%), scaling the merchant banking division (20%), and general expansion (5%). The second resolution seeks to increase the maximum board strength from 15 to 20 directors and amend the Articles of Association. The third resolution proposes raising the authorised share capital from Rs. 18.05 crores to Rs. 25 crores by adding 69.5 lakh equity shares of Rs. 10 each, to accommodate the proposed preferential allotment.
Existing shareholders face potential dilution if all warrants are converted into equity shares, with promoter group receiving 5 lakh warrants and non-promoters getting 11 lakh warrants. The capital raise is growth-oriented and aimed at reducing debt, but the stock may see short-term pressure given the dilutive nature of the preferential issue. Shareholders should review the allotment list and use the e-voting window (March 10-12, 2026) to vote on these resolutions.