Gretex Corporate Services Limited has provided detailed clarifications regarding its proposed preferential issue of equity warrants following observations raised by stock exchanges. The company filed an in-principle application for the preferential issue of 1,00,000 equity warrants with specific terms and conditions.

Issue Structure and Pricing

The proposed preferential issue involves the following key parameters:

Regulatory Compliance Clarifications

The company addressed several key regulatory aspects in response to stock exchange observations. Regarding Regulation 166A of SEBI ICDR Regulations, Gretex Corporate Services clarified that this regulation is not applicable to the present preferential issue. The company explained that the proposed allotment does not result in any change in control and does not exceed 5% of the post-issue fully diluted share capital. The reference to Regulation 166A in the Postal Ballot Notice dated December 13, 2025, was included only as a precautionary disclosure.

Fund Utilization Framework

The company provided comprehensive details about the intended use of proceeds and timeline for fund utilization:

The objects of the issue are specifically aimed at supporting the company's business operations and strategic initiatives, with proceeds being utilized towards meeting working capital requirements that form an integral part of the company's business operations and strategic objectives.

Valuation and Governance Measures

Despite the regulatory exemption, Gretex Corporate Services has voluntarily obtained a valuation report from an independent registered valuer. This step demonstrates the company's commitment to upholding good governance practices, even though the proposed allotment is below 5% of the post-issue share capital and does not mandate such valuation under applicable regulations.

The clarifications were signed by Bhavna Desai, Company Secretary and Compliance Officer, and submitted to both the National Stock Exchange Limited and BSE Limited on January 16, 2026. These clarifications aim to address all observations raised by the stock exchanges and provide transparency to shareholders regarding the preferential issue process.

Gretex Corporate Services Limited has submitted its investor presentation for the Q3FY26 earnings call to the National Stock Exchange of India Limited and BSE Limited under Regulation 30. The presentation covers the company's performance for the quarter and nine months ended December 31, 2025.

Financial Performance Overview

The company's Q3FY26 consolidated financial results show mixed performance compared to previous quarters. Total income for Q3FY26 stood at ₹54.80 crores, representing a decline from ₹80.20 crores in Q3FY25 and ₹67.40 crores in Q2FY26.

Business Segments and Revenue Mix

The company operates through two primary business segments: Market Making & Broking Business and Merchant Banking. For Q3FY26, Market Making & Broking Business contributed ₹33.50 crores while Merchant Banking generated ₹8.60 crores in revenue.

Track Record and Market Position

Gretex Corporate Services has established itself as a significant player in the IPO market, having completed 60 IPO issues to date with total funds raised of approximately ₹1,447 crores. The company has handled 58 SME IPOs raising around ₹1,247 crores and 1 Main Board IPO raising ₹132 crores.

Recent Quarter Achievements

During Q3FY26, the company successfully completed 3 IPOs, 1 de-listing, and 6 mandates in valuation & advisory services. The company has filed DRHP for 6 issues with total funds to be raised of approximately ₹330 crores.

Business Expansion Plans

The company has outlined several strategic initiatives for future growth, including applying for CAT II AIF in January 2026, planning to list Gretex Share Broking Limited on the Main Board, and exploring inorganic opportunities in retail broking. The company targets raising approximately ₹20,000 crores over the next 3 years through private equity placements and IPOs.

Leadership and Recognition

The company is led by Managing Director and CFO Alok Harlalka, who brings over 28 years of experience in capital markets. The company has been consistently recognized by leading exchanges and industry bodies, including being felicitated as Top Performing Merchant Banker by NSE Emerge and receiving recognition from BSE for Distinguished Contribution to Enabling SME & Startup Listings.