Emkay Global Financial Services Limited , a prominent player in the financial services sector, has announced a significant equity investment from industry veteran Kirti Doshi. This strategic move is set to bolster the company's financial position and potentially fuel its growth plans.

Investment Details

The Board of Directors of Emkay Global Financial Services has approved the issuance of up to 95,00,000 convertible warrants on a preferential basis. The warrants, priced at Rs. 239.50 each, will be convertible into an equal number of equity shares within 18 months from the date of allotment. This move could potentially inject up to Rs. 227.52 crore into the company.

Key Investors

The preferential issue includes three key investors:

1. Antique Securities Private Limited (Non-Promoter): Up to 75,00,000 warrants
2. Krishna Kumar Karwa (Promoter): Up to 12,50,000 warrants
3. Prakash Kacholia (Promoter): Up to 7,50,000 warrants

Notably, Antique Securities Private Limited, with Mr. Kirti J Doshi and Mrs. Hina K Doshi as ultimate beneficial owners, will be subscribing to the majority of the warrants, potentially investing up to Rs. 179.62 crore.

Impact on Shareholding

Upon full conversion of the warrants, the shareholding structure of Emkay Global Financial Services will undergo significant changes:

Corporate Actions

To facilitate this preferential issue, the company has taken several corporate actions:

1. Amendment to the Articles of Association to empower the company for further issuance of securities.
2. Setting the warrant issue price at Rs. 239.50, which is above the floor price of Rs. 239.36 per equity share as per SEBI regulations.
3. Scheduling an Extraordinary General Meeting (EGM) on October 17, 2025, to seek shareholder approval for these measures.

Market Implications

This substantial investment by Kirti Doshi, an industry veteran, through Antique Securities Private Limited, signals strong confidence in Emkay Global Financial Services' future prospects. The infusion of fresh capital is expected to strengthen the company's financial position and potentially support its expansion plans in the competitive financial services sector.

Investors and market watchers will be keenly observing how Emkay Global utilizes this capital influx to drive growth and enhance shareholder value in the coming months.

The company has duly informed the National Stock Exchange of India Limited and BSE Limited about this development, adhering to regulatory disclosure requirements.

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.