Wealth First Portfolio Managers Limited has completed the acquisition of 10,00,000 preference shares in its wholly owned subsidiary, Lakshya Trustee Private Limited, for a total consideration of ₹1 crore.

The investment was made through the subscription of Non-Convertible Non-Cumulative Redeemable Preference Shares at an issue price of ₹10 per share. This capital infusion aims to meet the administrative and general business requirements of Lakshya Trustee as it carries out its activities as a trustee for Asset Management Company funds.

Transaction Details and Structure

The company disclosed this development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The allotment was made under a Right Issue by the subsidiary. Following this transaction, Wealth First Portfolio Managers continues to hold 100% equity and preference share capital, voting power, and beneficial interest in Lakshya Trustee Private Limited.

The transaction is classified as a related party transaction since Lakshya Trustee is a wholly owned subsidiary. The company stated that the investment was undertaken on an arm's length basis, with necessary approvals accorded by the Audit Committee and Board of Directors in accordance with the Companies Act, 2013.

Subsidiary Financial Profile

Lakshya Trustee Private Limited operates as a trustee and nominee for funds managed by Lakshya Asset Management Private Limited. The entity reported zero turnover for FY26, with previous fiscal years marked as not applicable for turnover data. The subsidiary recorded a loss after tax of ₹9,22,700 and a net worth of ₹77,300 prior to this capital injection.

What the Numbers Show

The acquisition highlights a strategic capital support mechanism for a newly operational subsidiary. With zero reported turnover and a net worth of only ₹77,300 before this infusion, the ₹1 crore investment significantly bolsters the balance sheet of Lakshya Trustee. The structure of the investment via redeemable preference shares, rather than equity, allows the parent company to potentially recover capital while providing immediate liquidity for operational needs. The 8% coupon rate indicates a defined cost of capital for the subsidiary, aligning with standard inter-company financing practices for early-stage entities.

Wealth First Portfolio Managers Limited has submitted the scrutinizer's report and voting results for its 24th Annual General Meeting (AGM) held on September 24, 2026. The company confirmed that all seven resolutions proposed at the meeting were duly approved by shareholders with the requisite majority.

The submission was made to the National Stock Exchange of India Ltd. and BSE Limited on September 28, 2026, pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The AGM was conducted via Video Conferencing (VC) and Other Audio Visual Means (OAVM), commencing at 4:00 pm and concluding at 4:15 pm.

Key resolutions passed

Members considered and approved several ordinary and special business items during the session. The scrutinizer's report details the voting outcomes for each resolution:

• Adoption of Financial Statements: Approval of audited standalone and consolidated accounts for FY26. Passed with 100% votes in favor.
• Dividend Declaration: Confirmation of interim dividend and declaration of a final dividend of ₹1.00 per share (10%) for FY26. Passed with 100% votes in favor.
• Director Re-appointment: Re-appointment of Binal Bhukhanwala Gandhi as a Non-Executive and Non-Independent Director retiring by rotation. Passed with 99.999% votes in favor.
• Commission Payment: Approval for payment of commission to Binal Bhukhanwala Gandhi. Passed with 99.999% votes in favor.
• Related Party Transactions: Approval for material related party transactions. Passed with 99.999% votes in favor.
• Capital Increase: Approval for an increase in authorized capital and alteration of the Memorandum of Association. Passed with 100% votes in favor.

Voting participation details

Remote e-voting facilities were provided by Bigshare Services Private Limited from September 21 to September 23, 2026. The record date for determining eligible shareholders was September 17, 2026, with a total of 7,899 shareholders on record.

Voting results summary

The scrutinizer, CS Kunal Sharma of M/s Kunal Sharma & Associates, reported that no invalid votes were cast across any category (Promoter, Public-Institutions, or Public-Non Institutions). The detailed voting breakdown for key resolutions is as follows:

For the material related party transaction resolution, promoter group members abstained from voting due to their interest in the matter. The resolution was approved solely by public shareholders, with 939,911 votes in favor against 1 vote against.

The electronic data and relevant records relating to e-voting are under the safe custody of the scrutinizer and will be handed over to the Chairman after the minutes of the AGM are approved.