Ashika Credit Capital Limited released its investor presentation for the financial year ended March 31, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The presentation outlines the company's transformation into a diversified financial services holding platform following the strategic merger of M/s Ashika Global Securities Private Limited, effective May 15, 2026. The company, an RBI-registered Middle Layer Non-Banking Financial Company (NBFC-ICC), now carries an estimated fair market valuation in excess of ₹3,000 crores and serves individuals, corporates, and institutions across India with over three decades of market expertise.

FY26 Financial Performance

Ashika Credit Capital reported strong standalone and consolidated financial results for FY26. On a standalone basis, Profit Before Tax surged 48.14% year-on-year, while consolidated net worth expanded significantly following the merger-driven amalgamation.

Standalone Financials (Amount in ₹ Lakhs)

Consolidated Financials (Amount in ₹ Lakhs)

Consolidated net worth grew from ₹440 crores (pre-merger FY25) to ₹1,169 crores in FY26, driven by the amalgamation, profitability, and a preferential issue.

Dividend, Acquisition, and Governance

The board recommended a final dividend of Re. 0.50 per share (5%) for FY26, subject to shareholder approval at the ensuing Annual General Meeting. The board also approved the proposed acquisition of Ashika Capital Limited (ACL), a SEBI-registered Category I Merchant Banker with a paid-up share capital of Rs. 1,31,00,000/-, to make it a wholly owned subsidiary for a maximum consideration not exceeding Rs. 22 crores, expected to be completed by September 30, 2026.

Additionally, the board approved the transfer of the in-principle SEBI approval for sponsoring a Mutual Fund to its stock broking subsidiary, Ashika Stock Services Limited, which was also designated as a Material Subsidiary effective May 17, 2026. On the governance front, M/s. DHC & Co. resigned as statutory auditors effective May 17, 2026, following the company crossing the RBI threshold limit for Total Asset Size. M/s. J K V S & Co., Chartered Accountants, were appointed as the new statutory auditors for a casual vacancy term until the conclusion of the next Annual General Meeting, with a proposed full term of three years thereafter.

Diversified Group Structure and Business Verticals

Ashika Credit Capital serves as the holding company for a broad ecosystem of financial services subsidiaries. The group's key subsidiaries span broking, investment banking, wealth management, alternative investments, and insurance, forming what the company describes as a compounding financial ecosystem.

The retail and HNI broking platform, powered by the Dhanush app, reported a total Assets Under Advisory (AUA) of ~₹22,000 crores+, over 1,00,000+ demat accounts, ~1,25,000+ total clients, 900+ channel partners, and 300+ authorised persons. The Dhanush platform averages ~1,00,000 trades per day and holds an average app rating of 4.5+ on Play/App Store.

Strategic Milestones and FY26 Transformation

The investor presentation highlights several landmark developments in FY26, including regulatory approval for the transformative merger, establishment of a flagship corporate office at Altimus, Worli, receipt of in-principle approval for a Mutual Fund business, securing of Category II AIF licenses for both Private Equity and Private Credit (April 2026), and an upgrade from base layer to middle layer NBFC. The investment banking division has cumulatively handled over $2 billion in total transaction experience, served 200+ marquee clients, and covered 10+ sectors across mandates, supported by a team of 15+ professionals with 150+ years of combined experience.

Ashika Credit Capital Limited has announced that the Composite Scheme of Amalgamation has become legally effective on May 15, 2026, following the filing of the certified true copy of the NCLT order with the Registrar of Companies, Kolkata in Form INC-28. This filing was made in compliance with Section 232(5) of the Companies Act, 2013, read with Rule 25(7) of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. The development was communicated to BSE Ltd. by the Company Secretary and Compliance Officer, Anju Mundhra, on May 15, 2026. The Merger & Acquisition Committee of Ashika Credit Capital Limited and the Boards of Directors of the transferor and amalgamating companies have acknowledged the filing in their respective meetings.

Structure of the Composite Scheme of Amalgamation

The Composite Scheme of Amalgamation involves a sequential two-step merger process among three entities within the Ashika group. The scheme consolidates the group's corporate structure through the following arrangement:

In the first step, Ashika Commodities & Derivatives Private Limited, a Wholly Owned Subsidiary of Ashika Global Securities Private Limited, amalgamated with and into Ashika Global Securities Private Limited. Subsequently, Ashika Global Securities Private Limited amalgamated with and into Ashika Credit Capital Limited, making Ashika Credit Capital Limited the final amalgamated entity. Both the Transferor Company and the Transferee/Amalgamating Company stand dissolved without winding up and cease to exist as separate legal entities from the Effective Date. Upon the scheme becoming effective, the name of Ashika Credit Capital Limited shall be changed to Ashika Global Securities Limited in accordance with Section 13 of the Companies Act, 2013, subject to name availability with the Ministry of Corporate Affairs and completion of other procedural requirements.

Share Allotment and Record Date

The Merger & Acquisition Committee has fixed May 27, 2026 as the Record Date for determining the equity shareholders of Ashika Global Securities Private Limited who shall be entitled to receive fully paid-up equity shares of Ashika Credit Capital Limited. In terms of Clause No. 20.1 of Part III of the Composite Scheme of Amalgamation, the Amalgamated Company shall issue and allot 4,03,52,586 fully paid-up equity shares of face value of Rs. 10/- each to those shareholders of the Transferee/Amalgamating Company whose names appear in the Register of Members on the Record Date. The share exchange ratio and related details are as follows:

The Valuation Report recommending the swap ratio was prepared by CA Vidhi Chandak, an IBBI Registered Valuer, and dated November 12, 2024.

Increase in Authorised Capital

Upon the effectiveness of the scheme, the entire Authorised Share Capital of the Transferor Company and the Transferee/Amalgamating Company stands transferred to the Authorised Share Capital of the Amalgamated Company. Consequently, the Capital Clause of the Memorandum of Association of Ashika Credit Capital Limited stands altered. The revised Authorised Share Capital is as follows:

Regulatory Approvals and Compliance

The scheme received all requisite regulatory clearances prior to the NCLT's final sanction. The Reserve Bank of India (RBI) granted its No Objection to the proposed Composite Scheme of Amalgamation and subsequently extended the validity of its No Objection till March 17, 2026. BSE Limited issued its 'No adverse observations' on the proposed scheme vide letter No. DCS/AMAL/NB/R37/3758/2025-26 dated August 22, 2025. Both Ashika Credit Capital Limited and Ashika Global Securities Private Limited are Non-Banking Finance Companies (NBFCs) duly registered with the Reserve Bank of India.

Subsidiaries of Ashika Credit Capital Limited Post-Merger

Consequent to the Composite Scheme of Amalgamation becoming effective, all subsidiaries including step-down subsidiaries of Ashika Global Securities Private Limited subsisting as on the Effective Date have become subsidiaries of Ashika Credit Capital Limited. These entities shall be considered subsidiaries of Ashika Credit Capital Limited with effect from the Appointed Date, i.e., April 1, 2025, for the purpose of financial integration, and consolidated financial statements shall be prepared accordingly. The following companies are subsidiaries of Ashika Credit Capital Limited as on the date of disclosure:

Additionally, Ashika Credit Capital Limited has become the Sponsor of Schemes under Ashika Alternative Investment (registered with SEBI as Category III-AIF) and Ashika Alternative Asset (registered with SEBI as Category II-AIF), in which erstwhile Ashika Global Securities Private Limited was a sponsor. The employees of the Transferor Company and the Amalgamating Company will be employees of Ashika Credit Capital Limited, with the appointment or designation of any such employees as Key Managerial Personnel or Senior Management Personnel being subject to approval of the appropriate Committee or the Board in due course.

Rationale for the Amalgamation

The scheme aims to consolidate the businesses of the companies, facilitating the realisation of their full potential. The key objectives cited include business synergy through the combination of the NBFCs' investing and financing activities, creation of a larger unified entity with optimal utilisation of capital, reduction of administrative and managerial overheads, improved financial strength and profitability through combined operations, pooling of knowledge and expertise, and unification of legal and regulatory compliance obligations currently required across all three entities.