Emkay Global Financial Services Limited has announced the successful allotment of non-convertible debentures worth ₹442.00 crore to strengthen its financial position and support business operations. The company has allotted 4,420 senior, unsecured, listed, rated, transferable, and redeemable non-convertible debentures with a two-year tenure.

Debenture Issuance Details

The key details of the NCD issuance are as follows:

Fund Utilization Strategy

Emkay Global Financial Services plans to utilize the proceeds from this debenture issuance for:

• General corporate purposes
• Working capital requirements

Investment Structure and Eligibility

The NCDs were issued on a private placement basis to eligible investors, which may include:

• Banks and financial institutions
• Mutual funds
• Foreign portfolio investors
• Individual investors
• Other entities in accordance with applicable law

Regulatory Compliance and Listing

The debenture allotment was completed in compliance with regulatory requirements under applicable laws. The NCDs will be listed on the Wholesale Debt Market segment of BSE Limited, providing liquidity options for investors and ensuring transparent price discovery in the secondary market.

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.