Submission of Annual Report (including Notice of AGM) under Regulation 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 for the Financial Year 2024-25.
Awaiting price reaction for this filing.
Shri Niwas Leasing And Finance Ltd, a Delhi-based NBFC listed on BSE (Scrip Code: 538897), has submitted its 40th Annual Report for FY 2024-25 along with the AGM notice. The 40th AGM is scheduled for Saturday, August 30, 2025 at 2:00 PM via video conferencing. Key business on the agenda includes adopting FY25 financial statements, appointing M/s VRSK & Associates as statutory auditors for five years, and regularising two newly appointed Independent Directors (Mr. Ravindra Dilip Davrung and Ms. Rekhaben Sanjay Bhanushali). The most significant items are proposals to increase authorised share capital from ₹44 crore to ₹500 crore (over 10x hike) and issue up to 40 crore equity shares (₹400 crore) on a preferential basis to four non-promoter entities by converting their outstanding unsecured loans into equity at ₹10 per share. The company cited cash flow mismatches and inability to repay unsecured lenders as the reason for the debt-to-equity conversion.
Existing shareholders face massive potential dilution if the preferential allotment is approved — 40 crore new shares would be issued, and authorised capital is being expanded more than 10-fold. However, the conversion is debt-to-equity (not fresh cash), so it could strengthen the balance sheet by replacing liabilities with equity, though control dynamics may shift toward the four non-promoter allottees.