Emkay Global Financial Services Limited has successfully allotted 2,78,300 equity shares to promoter Krishna Kumar Karwa following the exercise of convertible warrants on February 19, 2026. The Management Committee approved this allotment during its meeting held on the same day, which commenced at 4.00 P.M. (IST) and concluded at 4.30 P.M. (IST).

Warrant Conversion Details

The allotment stems from the original preferential issue of 95,00,000 convertible warrants completed on October 24, 2025. Karwa, being one of the three allottees, received 12,50,000 warrants as part of this allocation.

This marks Karwa's second warrant conversion, as he had previously exercised 2,78,300 warrants in December 2026, receiving an equal number of equity shares.

Original Warrant Allocation Structure

The company had initially allotted warrants to three parties through preferential placement:

Impact on Share Capital and Shareholding

Following this allotment, the company's capital structure has been enhanced significantly. The issued, subscribed and paid-up capital increased from Rs. 25,91,07,630 divided into 2,59,10,763 equity shares to Rs. 26,18,90,630 divided into 2,61,89,063 equity shares of face value Rs. 10.00 each.

Outstanding Warrant Position

After this conversion, Karwa retains 6,93,400 unconverted warrants from his original allocation. The warrant exercise follows a structured payment mechanism where 25% of the issue price (Rs. 59.875 per warrant) was paid at the time of initial allotment, and the remaining 75% (Rs. 179.625 per warrant) is paid upon conversion.

Regulatory Compliance

The allotment complies with provisions of Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018 and the terms of warrant allotment. The newly allotted equity shares rank pari-passu in all respects with existing equity shares of the company, including dividend rights. The company has made the required disclosures under Regulation 30 of SEBI Listing Regulations and informed both NSE and BSE about this development.

Emkay Global Financial Services has issued a comprehensive postal ballot notice to shareholders seeking approval for a key executive appointment through electronic voting. The financial services company is proposing the appointment of Mr. Raunak Karwa as Executive Director for a three-year term, with detailed remuneration structures and voting timelines outlined for shareholder consideration.

Executive Director Appointment Details

The company seeks shareholder approval for appointing Mr. Raunak Karwa (DIN: 08632290) as Whole-Time Director designated as Executive Director for a period of three years. The proposed appointment term extends from February 1, 2026, to January 31, 2029, with the candidate liable to retire by rotation.

Mr. Raunak Karwa, aged 33 years, brings significant experience to the role. He has served as Managing Director & CEO of Finlearn Edutech Private Limited since 2021 and founded FinLearn Academy & Trade:able in January 2020. His professional background includes five years as an analyst with Ernst & Young (Advisory-Financial Services) and ICICI Securities (Corporate Finance). He currently holds 17,50,000 equity shares of Rs. 10 each in the company.

Remuneration Structure

The proposed remuneration package for Mr. Raunak Karwa includes comprehensive salary components and benefits structured according to senior management standards.

The remuneration structure includes provisions for annual increments as determined by the Nomination, Remuneration and Compensation Committee and Board of Directors. Additionally, business-related expenses including travel, accommodation, car usage, and communication costs will be reimbursed separately and not considered as perquisites.

E-Voting Timeline and Process

The company has established a comprehensive electronic voting framework to facilitate shareholder participation in the decision-making process.

The postal ballot notice has been sent electronically to all members who have registered their email addresses with Depository Participants and the company's Registrar and Share Transfer Agent, MUFG Intime India Private Limited. The company has engaged Central Depository Services (India) Limited (CDSL) to facilitate the remote e-voting process.

Corporate Governance and Compliance

The appointment follows regulatory requirements under the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board of Directors appointed Mr. P. N. Parikh (Membership No. FCS 327) as Scrutinizer for conducting the postal ballot process, with backup scrutinizers designated to ensure transparency.

The company has appointed the Nomination, Remuneration and Compensation Committee to evaluate and recommend the candidature based on requisite competencies, qualifications, and experience. The Board recognizes Mr. Karwa's contributions and leadership in the Trade:able business and believes his appointment will add value to Board deliberations.

Family Relationships and Disclosures

Mr. Raunak Karwa belongs to the promoter group of the company and maintains family relationships with existing leadership. He is the son of Mr. Krishna Kumar Karwa, Managing Director, and grandson of Mr. Sushil Kumar Saboo, Chairman of the company. These relationships have been disclosed in accordance with regulatory requirements, and the interested parties will abstain from voting on the resolution.

The appointment requires approval through a Special Resolution, and the company has provided comprehensive explanatory statements detailing the rationale, terms, and conditions of the proposed appointment for shareholder consideration.