Emkay Global Financial Services Limited has successfully concluded its postal ballot process, with shareholders overwhelmingly approving the appointment of Mr. Raunak Karwa as Executive Director. The company announced the results on March 23, 2026, following the completion of the remote e-voting process conducted in compliance with regulatory requirements.

Postal Ballot Results

The special resolution for appointing Mr. Raunak Karwa (DIN: 08632290) as a Whole-Time Director designated as Executive Director for three years received exceptional shareholder support. The voting results demonstrate strong confidence in the leadership appointment.

Regulatory Compliance and Process

The postal ballot process was conducted pursuant to Section 110 of the Companies Act, 2013, and the Companies (Management and Administration) Rules, 2014. The company also complied with Regulation 30 and 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Category-wise Voting Breakdown

The voting results showed strong support across all shareholder categories. Promoter and promoter group shareholders demonstrated unanimous support, while public shareholders also showed overwhelming approval for the appointment.

Scrutinizer's Report

Ms. Sarvari Shah of Parikh & Associates, Company Secretaries, served as the scrutinizer for the postal ballot process. The scrutinizer's report confirmed the validity of the voting process and provided detailed breakdown of votes cast through the remote e-voting facility provided by Central Depository Services (India) Limited (CDSL).

The appointment of Mr. Raunak Karwa as Executive Director has been formally approved with the requisite majority, enabling the company to proceed with the leadership transition as planned. The company has fulfilled all disclosure requirements under the applicable regulations and has made the voting results available on its website.

Emkay Global Financial Services Limited has successfully allotted 2,78,300 equity shares to promoter Krishna Kumar Karwa following the exercise of convertible warrants on February 19, 2026. The Management Committee approved this allotment during its meeting held on the same day, which commenced at 4.00 P.M. (IST) and concluded at 4.30 P.M. (IST).

Warrant Conversion Details

The allotment stems from the original preferential issue of 95,00,000 convertible warrants completed on October 24, 2025. Karwa, being one of the three allottees, received 12,50,000 warrants as part of this allocation.

This marks Karwa's second warrant conversion, as he had previously exercised 2,78,300 warrants in December 2026, receiving an equal number of equity shares.

Original Warrant Allocation Structure

The company had initially allotted warrants to three parties through preferential placement:

Impact on Share Capital and Shareholding

Following this allotment, the company's capital structure has been enhanced significantly. The issued, subscribed and paid-up capital increased from Rs. 25,91,07,630 divided into 2,59,10,763 equity shares to Rs. 26,18,90,630 divided into 2,61,89,063 equity shares of face value Rs. 10.00 each.

Outstanding Warrant Position

After this conversion, Karwa retains 6,93,400 unconverted warrants from his original allocation. The warrant exercise follows a structured payment mechanism where 25% of the issue price (Rs. 59.875 per warrant) was paid at the time of initial allotment, and the remaining 75% (Rs. 179.625 per warrant) is paid upon conversion.

Regulatory Compliance

The allotment complies with provisions of Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018 and the terms of warrant allotment. The newly allotted equity shares rank pari-passu in all respects with existing equity shares of the company, including dividend rights. The company has made the required disclosures under Regulation 30 of SEBI Listing Regulations and informed both NSE and BSE about this development.