Emkay Global Financial Services has successfully completed the allotment of 2,78,300 equity shares following the exercise of convertible warrants by promoter Krishna Kumar Karwa. The Management Committee approved this allotment on December 12, 2025, marking a significant milestone in the company's earlier Rs 227.52 crore warrant issue.

Warrant Conversion Details

The conversion represents a partial exercise of the warrants originally allotted in October 2025. Key details of the conversion include:

Impact on Share Capital and Shareholding

Following this allotment, the company's issued and paid-up capital has increased from Rs 25.63 crore to Rs 25.91 crore, divided into 2,59,10,763 equity shares of Rs 10 face value each.

Original Warrant Issue Structure

The warrant conversion stems from the preferential issue approved earlier, which involved three investors:

Payment Structure and Compliance

The warrant exercise follows the established payment structure where investors initially paid 25% of the warrant price (Rs 59.88 per warrant) at allotment. The remaining 75% (Rs 179.63 per warrant) was paid upon conversion, totaling Rs 4.99 crore for the current exercise.

The newly allotted equity shares rank pari-passu with existing shares, including dividend rights. The conversion price of Rs 239.50 remains above the regulatory floor price of Rs 239.36 per equity share as per SEBI regulations.

Outstanding Warrants

With Krishna Kumar Karwa's partial conversion, 9,71,700 warrants remain outstanding from his original allotment of 12,50,000 warrants. The other allottees, Antique Securities Private Limited and Prakash Kacholia, retain their full warrant holdings and can exercise them within the 18-month conversion period from the original allotment date.

Emkay Global Financial Services Limited has announced a significant development in its corporate strategy. The company's Board of Directors is set to convene on September 22, 2025, to deliberate on a proposal for raising funds through a preferential issue of securities.

Key Points of the Announcement

• Board Meeting Date: September 22, 2025
• Primary Agenda: Consideration of fund-raising through preferential issue of securities
• Regulatory Compliance: The proposal will be in accordance with SEBI regulations and the Companies Act, 2013
• Shareholder Approval: The fund-raising plan is subject to approval from the company's shareholders

Trading Window Closure

In line with regulatory requirements and the company's commitment to preventing insider trading, Emkay Global has implemented the following measures:

• The trading window for the company's securities has been closed with immediate effect
• This closure applies to directors, promoters, designated persons, connected persons, and their immediate relatives
• The trading window will remain closed until 48 hours after the announcement of the board meeting outcome

Additional Board Considerations

The Board of Directors will also discuss:

• Convening an Extraordinary General Meeting (EGM)
• Initiating a Postal Ballot process to seek shareholder approval for the proposed fund-raising

Regulatory Disclosure

The company has made this announcement in compliance with Regulation 29(1)(d) and 50 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made to both the National Stock Exchange of India Limited and BSE Limited on September 17, 2025.

This strategic move by Emkay Global Financial Services Limited indicates the company's proactive approach to capital management and growth. Shareholders and market observers will be keenly awaiting the outcome of the September 22 board meeting and any subsequent shareholder approval process.