Share India Securities Limited has successfully obtained shareholder approval for raising up to USD 50 million through the issuance of Foreign Currency Convertible Bonds (FCCBs). The company's 1st Extra-Ordinary General Meeting (EGM) for the financial year 2025-26, held on December 17, 2025, saw members approve the proposal by way of a special resolution.

EGM Outcome and Approval Details

The EGM commenced at 4:30 PM and concluded at 4:47 PM on December 17, 2025. The shareholders approved the fundraising proposal through FCCBs for an aggregate amount not exceeding USD 50 million or its equivalent in Indian Rupees or any other currency(ies), to be issued in one or more tranches.

Terms and Conditions Framework

As stated in the resolution and explanatory statement, the terms and conditions of the FCCBs will be determined by the Finance Committee of the Company at the time of issuance. The company has indicated that detailed disclosures required under Regulation 30 of the Listing Regulations will be submitted to stock exchanges in accordance with applicable laws and regulatory requirements when the specific terms are finalized.

Intended Use of Funds

The company plans to utilize the funds raised through FCCBs for various strategic purposes, including:

• Augmenting long-term financial resources
• Enhancing market presence and business scale
• Meeting long-term working capital requirements
• Financing capital expenditure
• Repayment or refinancing of existing loans
• Strategic investments and general corporate purposes

Recent Financial Performance Context

The FCCB approval comes against the backdrop of the company's recent financial performance:

Balance Sheet Strength

Despite recent performance challenges, the company maintains a strong balance sheet position:

Regulatory Compliance and Next Steps

The company has fulfilled its regulatory obligations by intimating the stock exchanges about the EGM outcome under Regulation 30 of the SEBI Listing Regulations. The voting results under Regulation 44 and the Scrutiniser's Report have already been submitted to the stock exchanges within the requisite timelines.

With shareholder approval secured, Share India Securities can now proceed with the FCCB issuance process, with the Finance Committee having the authority to determine the specific terms and conditions at the time of issuance. This fundraising initiative positions the company to strengthen its financial resources and pursue growth opportunities in the competitive financial services sector.

Share India Securities Limited has updated the terms of its Non-Convertible Debentures (NCDs) issuance worth INR 50.00 crore. The company's Finance Committee, in its meeting held on December 10, 2025, has revised the structure to include a greenshoe option while maintaining the total issue size.

Updated NCD Issuance Structure

Key Modifications

The Finance Committee has introduced significant changes to the original NCD structure. The total number of NCDs remains at up to 5,000, but now includes a greenshoe option of up to 2,500 NCDs of face value INR 1,00,000 each. The tenure has been extended to up to 24 months from the deemed date of allotment, compared to the earlier 712 days from the date of allotment.

Security Features

The NCDs continue to be secured, rated, listed, taxable, transferable, and redeemable instruments issued on a private placement basis. They remain secured by a first ranking pari passu charge on MTF loan receivables, securities for trade, and present and future current assets (except encumbered cash). The issue is backed by personal guarantees from the company's promoters with security coverage set at a minimum of 1.50 times the outstanding amount.

Regulatory Compliance

This update follows the company's previous disclosures dated July 30, 2025, and October 14, 2025. All other terms of the issue, as mentioned in the October 14, 2025 disclosure, remain unchanged. The Finance Committee meeting commenced at 03:00 p.m. and concluded at 03:35 p.m. on December 10, 2025.

Strategic Implications

The inclusion of a greenshoe option provides Share India Securities with additional flexibility in fund raising based on market demand. This structure allows the company to potentially raise the full INR 50.00 crore while providing investors with enhanced participation opportunities in the debt issuance.