GX Ventures LLP and its persons acting in concert (PACs) increased their stake in Amarnath Securities Ltd to 9.78% through an open market purchase on September 15, 2026.

The acquisition adds 10,448 shares to the group's existing holdings, bringing the total number of shares carrying voting rights to 293,278. This represents 9.78% of the company's total share and voting capital, up from 9.44% prior to the transaction.

Acquisition Details

The disclosure filed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, identifies the following entities as part of the acquirer group:

• GX Ventures LLP (Acquirer)
• GX Capital Pvt Ltd
• Novita Brands Pvt Ltd
• Pawan Jain
• Monika Jain

The group confirmed that none of these entities belong to the promoter or promoter group of Amarnath Securities Ltd. The shares were acquired in the open market, with the disclosure submitted to the Bombay Stock Exchange on September 16, 2026.

Shareholding Structure

Amarnath Securities Ltd has a total equity share capital of ₹3,00,02,000, comprising 30,00,200 equity shares. The total diluted share capital remains unchanged at this level, as no warrants or convertible securities were involved in the transaction.

What the Numbers Show

The acquisition represents a modest increase of 0.34 percentage points in the group's stake. With the post-acquisition holding at 9.78%, the group remains below the 10% threshold that typically triggers additional disclosure obligations or open offer requirements under SAST regulations, suggesting a strategic accumulation rather than a control-seeking move at this stage.

Amarnath Securities Limited scheduled its 32nd Annual General Meeting for September 30, 2026. The board approved the notice for the meeting, which will be conducted via video conferencing or other audio-visual means.

The company also announced key governance changes for shareholder approval. These include the re-appointment of Chetan Patel and a designation change for Kinnari Patel.

Board Meeting Outcome

The board of directors held its meeting on September 8, 2026, from 2:00 pm to 3:00 pm. The directors approved the notice for the 32nd AGM along with the director's report for FY26.

The board appointed Shravan Gupta & Associates as the scrutinizer for the meeting. It also approved the re-appointment of Chetan Patel (DIN: 03556088), who retires by rotation and is eligible for re-appointment.

Key Agenda Items

Shareholders will vote on several ordinary and special resolutions during the AGM. The voting process will use remote e-voting facilities provided by Bigshare Services Private Limited.

Governance and Compliance

The company seeks approval to appoint Mr. Anirudh Tanvar as secretarial auditor for a term of five consecutive years from FY27 to FY31. This appointment follows recommendations from the audit committee.

Additionally, the board proposed a special resolution to approve managerial remuneration up to ₹5 crore per annum in scenarios where the company reports inadequate or no profits. This provision allows flexibility in compensating directors despite financial shortfalls.

The borrowing powers resolution enables the board to raise funds from banks, financial institutions, or foreign lenders. The total borrowings may exceed the aggregate of paid-up share capital and free reserves.

Leadership Changes

Mrs. Kinnari Chetan Patel (DIN: 03566246) was appointed as an Additional Director on April 10, 2026. The board now proposes changing her designation to Executive Whole-Time Director effective from that date.

She will serve for a period of five years. Her expertise includes organizational development, administrative functions, and corporate governance. She is listed as an immediate relative of existing directors.

E-Voting and Logistics

The cutoff date for e-voting is September 23, 2026. The register of members and share transfer books will remain closed from September 23, 2026, to September 29, 2026.

Remote e-voting begins on September 27, 2026, at 9:00 am and ends on September 29, 2026, at 5:00 pm. Shareholders holding shares in demat mode can vote through their depository participants.