Abhinav Leasing & Finance has proposed a preferential issue of convertible share warrants worth ₹6 crore to meet its working capital requirements. The move involves issuing 6,00,00,000 securities to four entities, including an alternative investment fund and three corporate bodies.

The company disclosed the details in a filing to BSE under Regulation 30 of SEBI (LODR) Regulations, 2015. The entire proceeds from the issue will be utilized progressively for working capital needs after the conversion or exercise of the warrants. The precise deployment depends on actual business requirements and cash flow positions at the relevant time.

Shareholding pattern shifts significantly

The proposed issue will substantially alter the company's shareholding structure. The promoter holding, currently at 3.66%, is set to dilute to 1.66% upon full conversion of the warrants. The non-promoter public holding will rise from 96.34% to 98.34%, driven primarily by the allotment to institutional investors and bodies corporate.

Allottees and ultimate beneficial ownership

The warrants are proposed to be allotted equally among four entities, each receiving 1,50,00,000 securities. Vardan Ceqube India Investment Fund is classified as a Qualified Institutional Buyer (QIB), while Amrabathi Investra Private Limited, Masatya Technologies Private Limited, and Panafic Industrials Limited are categorized as Non-QIBs.

The filing details the Ultimate Beneficial Owners (UBOs) for the proposed shareholders:

• Vardan Ceqube Advisors Private Limited: UBOs are Vikram Behari Kaushal and Seema Kaushal.
• Masatya Technologies Private Limited: UBOs are Dipansh Nagpal, Bimla Rani, and Hemlata.
• Ambrabathi Investra Private Limited: UBOs are Tarun Goyal, Giri Raj Goyal, and Kartik Goyal.
• Panafic Industrials Limited: No natural person has been identified as the UBO based on available records.

What the numbers show

The most striking implication of this filing is the severe dilution of promoter control. With promoters holding only 18,30,000 shares pre-issue, their stake falls to a negligible 1.66% post-conversion. This leaves the company with a highly dispersed shareholding structure where no single promoter group holds significant influence. Furthermore, the introduction of Panafic Industrials Limited as a major shareholder (41.39% combined with other bodies corporate) introduces a listed entity into the cap table, potentially signaling strategic alignment or financial investment rather than operational control.

Abhinav Leasing & Finance shareholders approved all five resolutions at its 42nd Annual General Meeting on September 16, 2026, with a final voting tally of 99.96% in favour across all agenda items. The key outcomes include a ₹6 crore preferential issue of convertible warrants and an increase in authorized share capital to ₹12 crore.

The meeting was held at the company’s registered office in Delhi. Atul Kumar Agarwal chaired the proceedings after the requisite quorum was established. Management members present included Managing Director Mamta Agarwal, CFO Amit Agarwal, and independent directors Rajeev Garg and Nikhil Bansal. Company Secretary Kamya Agarwal welcomed members and introduced the agenda.

Resolutions Passed

Shareholders voted via remote e-voting, which ran from September 12 to September 15, 2026. Sandeep Kumar Singh served as the scrutinizer for the e-voting process. All resolutions were passed unanimously.

Voting Breakdown

The official voting results filed with the BSE detail participation from 14,750 shareholders as on the record date. A total of 31 shareholders attended the meeting in person or through proxy, while 82 members voted remotely. Promoter and promoter group entities held 18,30,000 shares but did not cast any votes. Public non-institutional investors held 4,81,50,000 shares and provided the decisive support.

Of the total votes polled, 8,953 were cast via remote e-voting and 9,91,964 via poll at the AGM. Only 390 votes (0.04%) were cast against the resolutions, all from public non-institutional voters via e-voting.

Capital Raise Details

The special resolution approved the issuance of convertible share warrants aggregating ₹6 crore to non-promoter entities on a preferential basis. The warrants are divided equally among four investors.

Simultaneously, the authorized share capital was increased to ₹12,00,00,000 (Rupees Twelve Crores only), divided into 12,00,00,000 equity shares of ₹1 each. This required a consequential alteration to the capital clause of the Memorandum of Association.

Meeting Conclusion

The meeting concluded at 11:40 am. The final voting results and the scrutinizer’s report will be communicated to the BSE within the stipulated time limits under the Companies Act 2013. The results will also be published on the company’s website.