Board approves 51% target stake purchase and share swap
WEALTH · price
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On the reaction day the stock moved 2.1 pts less than Nifty Microcap 250 and 1.7 pts less than its Other Financial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The board approved buying up to 2,09,304 shares, or 51%, of affiliated company Wealth First Advisors for about INR 52.10 crore, paid through cash and shares. It also approved issuing up to 1,36,575 new shares at INR 885.89 each, worth INR 12.10 crore, to three sellers. Shareholders will vote on the issue on 21 November 2026.
Dilution may weigh on the stock as the company gains control of an affiliated target. Shareholder and regulatory approvals remain pending.