Notice of Postal Ballot dated 17th September, 2025
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Awaiting price reaction for this filing.
Regency Fincorp has sent a Postal Ballot notice to shareholders for three special resolutions. The first seeks to modify the company's Memorandum of Association to add new business activities related to digital payments (prepaid instruments, e-wallets, UPI, payment gateways, merchant payments) alongside the existing finance business. The second resolution proposes adopting a new set of Articles of Association aligned with the Companies Act 2013. The third and most material resolution seeks shareholder approval to revise existing loan agreements and convert loans from three related/promoter-group entities into equity shares — Annanya Management Consultancy (Rs 5.57 crore), Max-Bio Biosciences (Rs 12.27 crore), and Regency Digitrade Investments (Rs 6.07 crore) — totalling about Rs 23.91 crore of debt being converted into equity.
The loan-to-equity conversion of ~Rs 23.91 crore will reduce the company's debt burden but will dilute existing shareholders' equity since the shares are being issued to specific lenders (some linked to the promoter group). The MOA expansion into digital payments signals a new growth direction for the company. Shareholders should vote by e-voting between 20 September and 19 October 2025.