Indo Thai Securities Limited has scheduled meetings for July 24, 2026, to seek approval for a proposed scheme of arrangement involving the demerger of its broking and distribution business into Indo Thai Financial Services Limited (ITFSL). The company will convene an Extraordinary General Meeting (EGM) for equity shareholders and a separate meeting for unsecured creditors via video conferencing. These meetings follow an order dated June 10, 2026, from the National Company Law Tribunal (NCLT), Indore Bench, and aim to segregate the broking vertical from other business segments like real estate and green technology to unlock value.

The proposed scheme entails the transfer of the broking and distribution undertaking to ITFSL on a going concern basis. In consideration, shareholders of Indo Thai Securities Limited will be issued new equity shares of ITFSL in a 1:1 ratio for every share held as on the record date. The entire existing paid-up share capital of ITFSL will be cancelled and reduced as part of this arrangement. For the financial year ended March 31, 2026, the company reported a revenue of ₹103.54 crore and a profit after tax (PAT) of ₹66.86 crore.

Meeting and Voting Details

The EGM for equity shareholders is scheduled for July 24, 2026, at 2:00 PM IST, while the meeting for unsecured creditors will be held on the same day at 3:00 PM IST. Remote e-voting for both meetings will commence on July 20, 2026, at 9:00 AM IST and conclude on July 23, 2026, at 5:00 PM IST. Equity shareholders listed as of July 17, 2026, are eligible to vote, whereas the list of unsecured creditors is determined as of December 31, 2025.

Advocate Rohit Dubey has been appointed as the Chairperson for the meetings, with Advocate Jatin Sehgal as the alternate Chairperson. CS Kaushal Ameta will act as the scrutinizer to oversee the e-voting process. The deemed venue for the meetings is the registered office of the company in Indore. The company has provided a web-link for the notices to shareholders and creditors whose email addresses are not registered with the company or its Registrar and Transfer Agents.

Indo Thai Securities Limited disclosed that its promoters and persons acting in concert (PACs) have not created any encumbrance on their shareholdings during the financial year ended March 31, 2026. The company submitted the yearly disclosures required under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 to the stock exchanges and its audit committee. The filing confirms the status of shares held by key promoter group members, including specific lock-in periods applicable to certain shares held by PACs.

Shareholding Disclosures

The disclosures were submitted by Mr. Parasmal Doshi, Promoter, Chairman & Whole-Time Director, and Mr. Dhanpal Doshi, Promoter and Managing Director. Both promoters confirmed that they, along with their respective PACs, did not pledge or encumber any shares directly or indirectly during FY26. However, the declarations noted that specific shares held by PACs are subject to lock-in restrictions pursuant to Regulation 167 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Lock-in Details

The following shares held by PACs are currently under lock-in, restricting their free and marketable title:

Promoter Group Structure

The disclosures identified the individuals included in the promoter group and PACs for each promoter. For Mr. Dhanpal Doshi, the group includes Dhanpal Doshi HUF, Mrs. Sadhana Doshi, and Mr. Nishit Doshi. For Mr. Parasmal Doshi, the group comprises Paras Doshi HUF, Mrs. Varsha Doshi, and Mr. Sarthak Doshi. The company forwarded these declarations to BSE Limited and National Stock Exchange of India Ltd. on April 08, 2026.