Mantra Capital Limited has received in-principle approval from BSE Limited for its preferential issue of equity shares and warrants. The company announced this development on March 25, 2026, following the approval received on March 24, 2026.

Preferential Issue Details

The BSE approval covers the issuance of securities on a preferential basis with specific allocations for different investor categories:

The warrants are convertible into an equal number of equity shares of Rs.10/- each. The total value of the preferential issue, at the minimum price of Rs.20/- per security, amounts to Rs.18.65 crore.

Regulatory Compliance Requirements

BSE has outlined several compliance requirements that Mantra Capital must fulfill. The company must ensure strict adherence to provisions of the Companies Act, 2013, Securities Contracts (Regulation) Act, 1956, SEBI Act, 1992, and the Depositories Act, 1996. Additionally, compliance with Chapter V of SEBI ICDR Regulations, 2018, and SEBI LODR Regulations, 2015, is mandatory.

Internal Controls and Trading Restrictions

The exchange has advised the company to strengthen internal controls to monitor trades executed by proposed allottees. Key requirements include:

• Obtaining undertakings from allottees confirming no intra-day trading in company scrip
• Ensuring no sale transactions in company scrip until allotment date
• Verification of compliance with Regulation 167(6) of SEBI ICDR Regulations, 2018
• Monitoring to prevent non-compliances that may impact listing of shares

Post-Allotment Obligations

As per SEBI circular dated June 21, 2023, any non-compliance with the twenty-day listing application requirement will attract penalties. The company must also note that convertible securities will result in automatic release of excess lock-in period of pre-preferential holdings by depositories.

Important Disclaimers

BSE has clarified that this in-principle approval should not be construed as approval for listing of the securities. The company must separately comply with listing requirements. The exchange reserves the right to withdraw this approval if submitted information is found incomplete, incorrect, misleading, or contravenes applicable regulations.

Mantra Capital Limited, formerly known as Savani Financials Limited, operates under scrip symbol MANTRA with scrip code 511577 on BSE. The approval letter was signed by Marian Dsouza, Assistant Vice President, and Tejas Tandel, Deputy Manager, from BSE Limited.

Mantra Capital Limited (formerly Savani Financials Limited) successfully concluded its Extra-Ordinary General Meeting on February 27, 2026, with shareholders demonstrating unanimous support for all proposed resolutions. The meeting, conducted through video conferencing from 11:00 AM to 11:17 AM, addressed critical corporate restructuring matters.

Meeting Overview and Participation

The EGM was held pursuant to Section 108 of the Companies Act, 2013, with Mr. Keyur Ghelani of K. P. Ghelani & Associates serving as the scrutinizer. The company utilized Bigshare Services Private Limited for e-voting and video conferencing services. Shareholders holding shares as of the record date February 20, 2026, were eligible to participate in the voting process.

Resolution Results and Voting Outcomes

All four resolutions presented at the EGM received unanimous approval from participating shareholders. The voting demonstrated strong shareholder confidence in the company's strategic direction.

Resolution 1: Rescinding Previous Authorization

The first ordinary resolution to rescind the shareholders' resolution pertaining to increase in authorized capital passed at the AGM held on September 25, 2025, received overwhelming support.

Resolution 2: Authorized Share Capital Increase

The second ordinary resolution for increasing the authorized share capital and consequential amendment in the Memorandum of Association received identical support with 24585588 votes in favour and zero votes against.

Resolution 3: Preferential Issue of Equity Shares

The special resolution for issuing equity shares on preferential basis under various regulatory provisions was passed with the same voting pattern, demonstrating consistent shareholder alignment.

Resolution 4: Preferential Issue of Warrants

The fourth special resolution regarding the issue of warrants on preferential basis showed different participation levels, with 67 members casting 585588 valid votes, all in favour of the resolution.

Corporate Governance and Compliance

The meeting adhered to all regulatory requirements under the Companies Act, 2013, and SEBI regulations. The e-voting period commenced on February 24, 2026, at 09:00 AM and concluded on February 26, 2026, at 05:00 PM, providing adequate time for shareholder participation. The votes were unblocked on February 27, 2026, at 06:00 PM in the presence of independent witnesses.

The scrutinizer's report confirmed that all procedural requirements were met, with proper notice distribution through electronic means and compliance with MCA circulars. The company's transformation from Savani Financials Limited to Mantra Capital Limited reflects its strategic repositioning in the financial services sector.