Emkay Global Financial Services Board Meeting on May 15, 2026 to Consider NCD Issuance Up to ₹100 Crores

Emkay Global Financial Services has notified the stock exchanges of an upcoming board meeting scheduled for Friday, May 15, 2026, pursuant to Regulation 29 and 50 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation, dated May 12, 2026, was filed with both the National Stock Exchange of India Limited and BSE Limited. The company had previously communicated the board meeting date to the exchanges vide a letter dated April 30, 2026.

Board Meeting Agenda: NCD Fundraising Proposal

At the forthcoming board meeting, the directors will consider a proposal for raising funds through the issuance of Non-Convertible Debentures (NCDs). The proposed issuance covers both secured and unsecured instruments, up to ₹100 Crores, to be raised on a private placement basis. The fundraising exercise is proposed to be undertaken in compliance with SEBI guidelines for NCD issuance, the provisions of the Companies Act, 2013, and all other applicable laws.

Key Details of the Proposed NCD Issuance

The following table summarises the key parameters of the proposed fundraising as disclosed in the regulatory filing:

Parameter:	Details
Board Meeting Date:	Friday, May 15, 2026
Filing Date:	May 12, 2026
Instrument Type:	Non-Convertible Debentures (NCDs)
Nature of Instrument:	Secured and/or Unsecured
Proposed Amount:	Up to ₹100 Crores
Mode of Issuance:	Private Placement
Regulatory Framework:	SEBI NCD Guidelines, Companies Act, 2013

Regulatory Compliance

The prior intimation has been filed in accordance with Regulation 29 and 50 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The filing was submitted by B. M. Raul, Company Secretary and Compliance Officer of Emkay Global Financial Services. The company has requested both exchanges to take the disclosed details on record.

The board meeting on May 15, 2026, will determine the final outcome of the NCD issuance proposal, subject to board approval and compliance with all applicable regulatory requirements.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-3.18%	-17.64%	-8.23%	-34.52%	-1.18%	+191.20%

Emkay Global Financial Services Limited has successfully completed the allotment of 3,78,300 equity shares on April 30, 2026, following the exercise of convertible warrants by two promoters. The Management Committee approved the allotment at its meeting held on April 30, 2026, which commenced at 2.00 P.M. (IST) and concluded at 2.30 P.M. (IST).

Warrant Conversion Details

The allotment stems from the original issuance of 95,00,000 convertible warrants on October 24, 2025, through preferential allotment on a private placement basis. The warrants were issued at Rs. 239.50 per warrant, with an initial subscription of 25% (Rs. 59.875 per warrant) paid upfront.

Parameter:	Details
Total Warrants Originally Issued:	95,00,000
Issue Price per Warrant:	Rs. 239.50
Initial Payment (25%):	Rs. 59.875 per warrant
Balance Payment (75%):	Rs. 179.625 per warrant

Current Allotment Breakdown

Two promoters exercised their warrants in the current tranche, with Krishna Kumar Karwa converting 2,78,300 warrants and Prakash Kacholia converting 1,00,000 warrants.

Allottee:	Category	Warrants Converted	Amount Received (Rs.)	Shares Allotted
Krishna Kumar Karwa:	Promoter	2,78,300	4,99,89,637.50	2,78,300
Prakash Kacholia:	Promoter	1,00,000	1,79,62,500.00	1,00,000
Total:		3,78,300	6,79,52,137.50	3,78,300

Impact on Share Capital

The allotment has increased the company's issued, subscribed and paid-up capital significantly. The equity shares were allotted at a face value of Rs. 10 each with a premium of Rs. 229.50 per share.

Metric:	Before Allotment	After Allotment
Paid-up Capital:	Rs. 26,33,67,310	Rs. 26,71,50,310
Number of Shares:	2,63,36,731	2,67,15,031
Face Value per Share:	Rs. 10	Rs. 10

Shareholding Changes

The warrant conversion has resulted in changes to the promoters' shareholding percentages in the company.

Promoter:	Pre-Allotment Shares	Pre-Allotment %	Post-Allotment Shares	Post-Allotment %
Krishna Kumar Karwa:	54,79,100	20.80%	57,57,400	21.55%
Prakash Kacholia:	47,50,000	18.04%	48,50,000	18.15%

Outstanding Warrants

Following this conversion, significant warrants remain outstanding for future exercise. Krishna Kumar Karwa retains 4,15,100 warrants pending conversion, while Prakash Kacholia has 6,50,000 warrants remaining. Notably, Karwa had previously exercised 5,56,600 warrants in December 2025 and February 2026.

The newly allotted equity shares rank pari-passu in all respects with existing equity shares of the company, including dividend rights. The company has informed stock exchanges NSE and BSE about this development in compliance with SEBI Listing Regulations.