Announced Thu, 16 Jul · 22:42 IST
Board approves FA Wizard acquisition, capital hike, and preferential issues
Board & Shareholder Meetings View source PDF
Price
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Price reaction · full curve 14 horizons · vs prior close
+4.0%1-day move
₹39.36
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AI summary
Board approved: (1) raising authorised capital from Rs 7 crore to Rs 24 crore, (2) acquiring 51% of FA Wizard Pvt Ltd, a fintech loan distribution platform with FY26 turnover of Rs 155.20 crore, via share swap worth Rs 20.69 crore, (3) preferential issue of 18 lakh shares at Rs 33 for Rs 5.94 crore cash, and (4) 1 crore convertible warrants at Rs 33 for Rs 33 crore. EGM set for Aug 13, 2026.
Likely market impact
Significant dilution likely as non-promoters could hold over 50% post-issue. Major shift into financial services. Subject to shareholder approval.