Gretex Corporate Services Limited , a leading merchant banking firm, has successfully concluded its postal ballot process with shareholders unanimously approving the preferential issue of equity warrants. The voting results were disclosed on December 16, 2025, following the completion of the remote e-voting process.

Unanimous Approval for Warrant Issue

The special resolution for issuing 1,00,000 fully convertible equity warrants on a preferential basis to certain identified persons was passed unanimously on December 13, 2025. The postal ballot process was conducted under the supervision of CS Rachana Shanbhag, Partner at M/s D.A Kamat & Co., who served as the scrutinizer.

Voting Process and Timeline

The postal ballot process commenced following the original notice dated November 13, 2025, with a corrigendum issued on December 13, 2025, to address comments from the National Stock Exchange. The remote e-voting facility was provided by Bigshare Services Pvt Ltd.

Shareholding Pattern Post-Approval

With the unanimous approval, the company will proceed with issuing 1,00,000 new warrants in addition to the existing 8,00,000 warrants. The post-issue shareholding pattern shows promoter and promoter group holding at 63.40%.

Strong Financial Foundation

The warrant approval comes on the back of exceptional financial performance in Q2 FY26, demonstrating the company's robust growth trajectory and investor confidence.

The unanimous shareholder approval reflects strong confidence in the company's strategic direction and growth plans. This warrant issue aligns with Gretex Corporate Services' ambitious target to raise INR 20,000 crores over the next three years through various capital market instruments, supporting its expansion in the merchant banking sector.

Gretex Corporate Services Limited has reported mixed financial results for the second quarter, showing profit growth despite a decline in revenue.

Q2 Financial Highlights

Key financial metrics for Q2 include:

The company's net profit increased to 115.00 million rupees from 99.00 million rupees in the same quarter last year, representing a 16.16% year-over-year growth. However, revenue declined to 796.00 million rupees from 937.00 million rupees in the previous year.

Notably, Gretex Corporate Services saw a significant improvement in its EBITDA, which surged to 318.00 million rupees from 167.00 million rupees. The EBITDA margin expanded substantially to 39.92% from 17.82% year-over-year, indicating improved operational efficiency.

Preferential Issue Approval

In addition to the financial results, the company's board has approved the issuance of 1,00,000 equity warrants on a preferential basis. The key details of this preferential issue are:

• Issue Price: Rs 300.00 per equity warrant
• Total Fundraising: Rs 3.00 crore
• Allottees: Non-promoter category investors

The company plans to issue these warrants to Mrs. Anzila Negi and Mr. Arun Negi, each receiving 50,000 warrants for a consideration of Rs 1.50 crore each.

Corporate Governance Updates

The board meeting also saw the approval of revised company policies, including:

• Whistle blower policy
• Audit committee policy
• Policy on Determination of materiality
• Code of conduct for merchant banker
• Preservation of documents and archival policy
• Familiarization Program policy of Independent Directors

These policy revisions underscore Gretex Corporate Services' commitment to maintaining robust corporate governance standards.

Conclusion

Despite the revenue decline, the growth in profitability and the decision to raise additional capital through a preferential issue suggest that Gretex Corporate Services is focusing on improving its financial position and operational efficiency. The company's efforts to strengthen its governance framework may be viewed positively by investors and stakeholders.

The preferential issue is subject to necessary approvals, including shareholder approval through a postal ballot process. The company will be seeking these approvals in due course, in compliance with SEBI regulations.