We hereby submit the notice of EGM to be held on February 19, 2026
Awaiting price reaction for this filing.
Photon Capital Advisors has called an EGM on February 19, 2026 in Hyderabad to seek shareholder approval on five key resolutions. The company plans to adopt a new set of Articles of Association and increase its authorised share capital from Rs. 4 crore to Rs. 6 crore (40 lakh to 60 lakh equity shares of Rs. 10 each). The objects clause of the MoA will be amended to add new sub-clauses covering AI/ML, data-driven businesses, and strategic acquisitions in technology, IT, and allied sectors. The company also proposes to issue up to 12,07,000 equity shares at Rs. 115 per share (aggregating Rs. 13.88 crore) and 19,90,000 unlisted convertible warrants at Rs. 115 per warrant (aggregating Rs. 22.88 crore) on a preferential basis to nine identified allottees. Combined potential raise is about Rs. 36.76 crore. Promoter Sreeram Reddy Vanga is the largest subscriber and is to be reclassified as promoter via a proposed open offer under SEBI takeover rules. Remote e-voting runs from February 16 to February 18, 2026, with cut-off date February 12, 2026.
If approved, existing shareholders will face equity dilution of up to ~30% on a fully converted basis, though the infusion of up to Rs. 36.76 crore could fund the company's pivot into AI, data, and technology-focused businesses. The reclassification of a large allottee as promoter via an open offer may also trigger takeover-related obligations and shift promoter shareholding dynamics. Short-term stock price may react to the size of the preferential issue and the sharp premium (Rs. 105 per share) being paid by the allottees.