Notice of the Extra Ordinary General Meeting
Price
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Awaiting price reaction for this filing.
Veefin Solutions has called an EGM on October 13, 2025 to seek shareholder approval for three key items. First, the company plans to increase its authorised share capital from Rs. 25 crore to Rs. 30 crore (adding 50 lakh equity shares of Rs. 10 each). Second, it proposes to issue 12,99,857 equity shares at Rs. 390 per share (a premium of Rs. 380) to 51 non-promoter allottees on a preferential basis, raising approximately Rs. 50.69 crore. Third, it plans to issue 11,12,820 convertible warrants at Rs. 390 each to two promoters (Gautam Udani and Raja Debnath) and two non-promoter NRIs, which could raise an additional Rs. 43.40 crore if fully converted within 18 months. Total potential fundraising is around Rs. 94 crore.
Existing shareholders will face dilution from both the equity issuance and warrant conversion (which could convert into equal equity shares). The price of Rs. 390 per share implies a valuation of about Rs. 390 crore pre-money. Promoter participation through warrants signals insider confidence, while the wide list of 51 non-promoter allottees (including foreign investor SR Global Fund) suggests strong external interest, though retail investors should watch for the share price reaction around the record date of October 3, 2025.