Viji Finance disclosed a substantial increase in the shareholding of Nimit Manoj Kumar Rathod and his Person Acting in Concert (PAC), Manoj Chhaganlal Rathod. The group’s aggregate holding rose to 6.06% of the post-allotment paid-up equity capital following the acquisition of 1,00,00,000 equity shares.

The acquisition was executed through the preferential allotment of equity shares upon the conversion of warrants previously allotted to the PAC. Viji Finance allotted these shares on August 26, 2026. Prior to this transaction, the acquirer and PAC collectively held 40,00,000 equity shares, representing 1.81% of the total paid-up equity share capital.

What the Numbers Show

The transaction significantly alters the ownership structure for the Rathod group. By converting warrants into equity, the group tripled its absolute share count from 40,00,000 to 1,40,00,000 shares. This move increases their voting power from a marginal 1.81% to a more substantial 6.06% stake in the company. The post-allotment paid-up equity capital of Viji Finance stands at ₹23,10,00,000, divided into 23,10,00,000 equity shares of Re. 1/- each.

Regulatory Disclosure Details

The disclosure was filed pursuant to Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Nimit Manoj Kumar Rathod submitted the requisite details to the BSE, NSE, and CSE on August 31, 2026. The shares are currently pending receipt of listing and trading approvals from the stock exchanges and credit to the respective demat accounts.

The acquirer is not part of the promoter or promoter group of Viji Finance. The target company’s equity share capital before the acquisition was ₹22,10,00,000, divided into 22,10,00,000 equity shares.

Viji Finance accepted the resignation of Dharmendra K Agarwal & Co. from its role as statutory auditors, effective August 22, 2026. The firm cited significant business expansion and geographical distance as primary reasons for stepping down.

The company received the resignation communication via email on Saturday, August 22, 2026. Since its registered office remains closed on weekends, management reviewed the document on Monday, August 24, 2026. Initial communications lacked detailed reasons required under SEBI Listing Regulations, prompting the company to seek clarification before filing.

Resignation Details

Dharmendra K Agarwal & Co., Chartered Accountants (Firm Registration No. 025525C), were appointed for a five-year term starting September 30, 2024. Their tenure was scheduled to conclude at the 35th Annual General Meeting in calendar year 2029.

The auditors stated that the considerable distance between their Gwalior office and the company’s operations in Indore made regular visits increasingly difficult. They emphasized the need to ensure adequate time and resources for audit responsibilities.

Regulatory Compliance

The company filed the requisite disclosure with BSE, NSE, and CSE pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This included the resignation letter and detailed reasons furnished by the auditors.

Dharmendra K Agarwal & Co. confirmed they have completed the statutory audit for the quarter ended June 30, 2026, submitting the limited review report on July 14, 2026. They also undertook to file Form ADT-3 with the Registrar of Companies indicating the reasons for resignation.

Next Steps

The Audit Committee and Board of Directors will note the resignation at their ensuing meetings. The company must fill the casual vacancy in accordance with the Companies Act, 2013, and SEBI Listing Regulations. This process involves obtaining Audit Committee recommendations, Board approval, and member confirmation in a general meeting.

Chairman and Managing Director Vijay Kothari signed the disclosure on August 24, 2026. The outgoing auditors committed to cooperating with incoming auditors and handing over necessary working papers and records.