Cheralathan Boosts Stake in Madhusudan Securities to 7.54% via Warrant Conversion

1 min read Updated on 14 Oct 2025, 10:09 AM

Reviewed by

Jubin VScanX News Team

Overview

Cheralathan, a non-promoter investor in Madhusudan Securities, has significantly increased his stake from 0.79% to 7.54% through a preferential allotment. On October 10, 2025, he acquired 15,00,000 shares by converting warrants, bringing his total holding to 16,15,000 shares. This transaction was part of a larger issuance where the company allotted 68,57,334 equity shares to strategic investors. The company's equity share capital expanded from 14,56,21,530.00 to 21,41,94,870.00, with total shares increasing from 1,45,62,153 to 2,14,19,487.

*this image is generated using AI for illustrative purposes only.

Madhusudan Securities , formerly known as MSL Global Limited, has seen a significant change in its shareholding structure following a recent warrant conversion. Non-promoter investor Cheralathan has substantially increased his stake in the company through a preferential allotment.

Key Highlights of the Transaction

Acquisition Date: October 10, 2025
Shares Acquired: 15,00,000
Mode of Acquisition: Preferential allotment via warrant conversion
Post-Acquisition Shareholding: 16,15,000 shares (7.54% of diluted share capital)
Pre-Acquisition Holding: 1,15,000 shares (0.79% of total share capital)

Impact on Company's Share Capital

The transaction has led to a significant expansion in Madhusudan Securities' equity share capital:

Aspect	Pre-Conversion	Post-Conversion
Equity Share Capital	14,56,21,530.00	21,41,94,870.00
Total Shares	1,45,62,153	2,14,19,487
Face Value per Share	10.00	10.00

Transaction Details

Cheralathan, who previously held 1,15,000 shares and 15,00,000 warrants, converted all his warrants into equity shares. This conversion increased his total shareholding from 0.79% to 7.54% of the company's diluted share capital.

Broader Context

The preferential allotment was part of a larger issuance by Madhusudan Securities. The company allotted a total of 68,57,334 equity shares to strategic investors (non-promoters) through warrant conversion on the same date.

Company Information

Madhusudan Securities, listed on the BSE Limited, has undergone this significant change in its shareholding structure. The company continues to adapt and evolve in the dynamic market environment.

Historical Stock Returns for Madhusudan Securities

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+2.32%	+3.48%	+3.48%	+19.86%	-19.62%	+2,844.44%

Madhusudan Securities

View in Depth

Financial Highlights

The company reported a substantial increase in its consolidated revenue from operations, which rose to ₹1.28 crore in Q1, up from ₹0.72 crore in the same period last year, marking an impressive 78% year-over-year growth. This strong top-line performance was accompanied by an even more remarkable bottom-line improvement, with net profit after tax more than doubling to ₹0.51 crore from ₹0.24 crore, representing a 116% increase.

Key Developments

MSL Global has made significant strides in expanding its business operations and enhancing its market presence:

Strategic Acquisition: The company has acquired more than 50% stake in Compliance Kart Private Limited. The statutory formalities for this acquisition are currently underway, signaling MSL Global's commitment to growth and diversification.
Successful Market Transition: In a move that underscores its growth trajectory, MSL Global has successfully transitioned from the NSE SME Emerge platform to the main boards of both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The company's shares were listed on these major exchanges on August 1, potentially increasing its visibility and liquidity in the market.

Financial Position

As of the latest reporting period, MSL Global Limited's financial position remains solid:

Item	Amount (in lakhs)
Equity Share Capital	1000.00
Other Equity	1376.55

It's worth noting that the standalone and consolidated financial results showed identical figures, indicating that the newly acquired subsidiary, Compliance Kart Private Limited, has not yet been integrated into the financial statements.

Management Commentary

Salim Pyarali Govani, Managing Director of MSL Global Limited, stated in the company's filing, "We are pleased to report a strong start to the fiscal year with significant growth in both our top and bottom lines. The strategic moves we've made, including the acquisition of Compliance Kart Private Limited and our listing on the main boards of BSE and NSE, position us well for continued growth and value creation for our shareholders."

Future Outlook

With its recent acquisition and successful transition to major stock exchanges, MSL Global Limited appears to be positioning itself for further growth and expansion. The company's strong Q1 performance provides a solid foundation for the remainder of the fiscal year.

As MSL Global continues to integrate its new acquisition and leverage its enhanced market presence, stakeholders will be keenly watching for sustained growth and the realization of synergies from its strategic initiatives.

Note: All financial figures are in Indian Rupees (₹) and are based on the company's official filings and announcements.

Historical Stock Returns for Madhusudan Securities