Emkay Global Gets Exchange Nod to List 7,93,400 Shares From Warrant Conversions

Emkay Global Financial Services has secured in-principle approval from the National Stock Exchange of India Limited (NSE) and BSE Limited to list 7,93,400 equity shares arising from the conversion of warrants issued on a preferential basis. The shares, carrying a face value of ₹10 each, were allotted to promoters, increasing their stake in the company. The approvals were granted via separate letters dated June 8, 2026, covering two distinct tranches of share allotments.

The first tranche involves the listing of 3,78,300 equity shares allotted to two promoters. The second tranche covers 4,15,100 equity shares allotted to a single promoter. The stock exchanges have stipulated that trading approval will be granted only after the company submits confirmation letters from depositories NSDL and CDSL regarding the crediting of shares to beneficiary accounts.

Allotment Details

The following table details the distribution of the shares approved for listing:

Sr. No.:	Name of the Allottees	Category	No. of Shares Allotted
1	Mr. Krishna Kumar Karwa	Promoter	2,78,300
2	Mr. Prakash Kacholia	Promoter	1,00,000
	Total (Tranche 1)		3,78,300
1	Mr. Krishna Kumar Karwa	Promoter	4,15,100
	Total (Tranche 2)		4,15,100

Regulatory Compliance

The company must comply with Regulation 167 of the SEBI (ICDR) Regulations. Additionally, if the change in share capital exceeds two per cent, Emkay Global Financial Services is required to file the shareholding pattern in XBRL mode under Regulation 31(1)(c) of the SEBI LODR Regulations, 2015.

The exchanges have instructed the company to apply for trading approval within seven working days from the date of the listing approval, as per SEBI circular dated June 21, 2023. Failure to comply with this timeline may result in penalties. The company must also file confirmation letters regarding the lock-in of pre-preferential holding, if applicable.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+9.74%	-3.10%	+33.60%	+9.32%	+15.94%	+269.60%

Emkay Global Financial Services Limited disclosed the shareholding details of its promoters and promoter group members for the financial year ended March 31, 2026. The company submitted these declarations to BSE Limited and National Stock Exchange of India Limited in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filings confirm that no new encumbrances were created on the shares during the financial year 2025-26, other than those previously disclosed.

The disclosures provide a breakdown of the shareholding held by various promoter group entities as of March 31, 2026. The total reported shares across the disclosed entities amount to 1,88,10,584 shares.

Shareholding Breakdown

The following table details the shares held by each promoter and promoter group entity:

Promoter / Promoter Group Entity	Shares Held
Mr. Krishna Kumar Karwa jointly with Mrs. Priti Karwa	54,79,100
Mr. Prakash Kacholia jointly with Mrs. Priti Kacholia	47,50,000
Emkay Corporate Services Private Limited	48,51,484
Mrs. Priti Kacholia jointly with Mr. Prakash Kacholia	18,80,000
Raunak Karwa	17,50,000
Krishna Kumar Karwa (HUF)	1,00,000
Murlidhar Karwa (HUF)	1,00,000

Key Declarations

Mr. Krishna Kumar Karwa, acting jointly with Mrs. Priti Karwa, declared a holding of 54,79,100 shares. Mr. Raunak Karwa was identified as a Person Acting in Concert (PAC) in this declaration. Separately, Mr. Prakash Kacholia and Mrs. Priti Kacholia declared holdings of 47,50,000 shares and 18,80,000 shares respectively.

Emkay Corporate Services Private Limited reported holding 48,51,484 shares. The Hindu Undivided Families (HUFs) of Krishna Kumar Karwa and Murlidhar Karwa each declared holdings of 1,00,000 shares. All signatories confirmed that they had not created any direct or indirect encumbrances on these shares during FY26 beyond prior disclosures.