Fundviser Capital Limited has announced a crucial Board of Directors meeting scheduled for September 29, 2025, to discuss and potentially approve a significant capital raising initiative through a preferential issue of equity shares and convertible warrants.

Key Agenda Items

The board meeting, to be held at the company's registered office, will focus on several important matters:

1. Preferential Share Issue: The board will discuss and finalize a proposal for issuing equity shares and convertible warrants on a preferential basis to promoters and strategic investors (non-promoters). This move is aimed at raising additional capital for the company, in accordance with Section 42 and 62 of the Companies Act, 2013, and SEBI regulations.

2. EGM Preparations: The board will adopt and approve the draft notice for an Extraordinary General Meeting (EGM). They will also set the day, date, and time for this EGM.

3. E-voting Process: A scrutinizer will be appointed to oversee the e-voting process for the upcoming EGM, ensuring transparency and compliance with regulatory requirements.

Trading Window Closure

In line with regulatory compliance and to maintain fair trading practices, Fundviser Capital has implemented a trading window closure:

• Closure Period: From September 22, 2025, until 48 hours after the board meeting's outcome is made public.
• Affected Parties: This closure applies to promoters, directors, insiders, designated employees, designated persons of the company, and their immediate relatives.
• Restriction: All affected parties are prohibited from trading in the company's securities during this period.

Implications and Outlook

The proposed preferential issue, if approved, could significantly impact Fundviser Capital's capital structure and potentially its growth strategies. Shareholders and potential investors will be keenly watching the outcome of this board meeting, as it may influence the company's future financial position and market performance.

Investors are advised to await the official announcement of the board meeting's results, which will provide more details on the preferential issue and the upcoming EGM.

Note: The trading window closure is a standard regulatory practice to prevent insider trading and ensure fair market practices during periods of potentially price-sensitive decision-making.

Fundviser Capital (India) Limited faced a setback as the Bombay Stock Exchange (BSE) returned its application for in-principle approval of a preferential issue of convertible warrants worth Rs 75.23 crore. The decision, communicated on September 5, 2025, highlights concerns over the company's proposed fund utilization and lack of transparency in its investment plans.

Preferential Issue Details

The company had sought to issue 64,85,000 convertible warrants priced at Rs 116.00 each, comprising a face value of Rs 10.00 and a premium of Rs 106.00. This move, approved by shareholders through a special resolution on July 15, 2025, would have resulted in the allottees holding approximately 52% of the post-issue capital.

BSE's Concerns

The BSE raised several red flags in its assessment:

1. Vague Objectives: The exchange noted that the stated objects of the issue were open-ended and unclear, potentially hindering shareholders from making informed decisions.

2. Lack of Detailed Information: The application failed to provide specific details about the investee entities and the proposed fund utilization.

3. Questionable Investments: The BSE specifically scrutinized planned investments in three entities:

   • DARS Transtrade Pvt Ltd: A proposed Rs 45.00 crore investment raised concerns due to the company's minimal profitability and questionable financial patterns.

   • New India Re & Infra LLP: A planned Rs 10.00 crore investment in a newly incorporated entity (October 2024) with zero revenue was questioned.

   • Starlight Box Theatres Private Limited: The proposed Rs 10.00 crore investment was scrutinized due to inconsistent financial patterns and lack of clarity on expenses.

Company's Response and BSE's Decision

Despite Fundviser Capital's detailed responses to initial queries, the BSE remained unsatisfied with the level of transparency and clarity provided. Consequently, the exchange returned the application on September 5, 2025.

Implications and Next Steps

This development raises questions about Fundviser Capital's expansion plans and its ability to raise funds through this route. The company will need to address the concerns raised by the BSE, particularly regarding the clarity of fund utilization and the financial health of its proposed investee companies, if it wishes to pursue this preferential issue in the future.

Investors and market watchers will be keenly observing how Fundviser Capital responds to this setback and whether it will revise its fundraising strategy or provide more detailed information to meet regulatory requirements.

As of now, Fundviser Capital has not announced its next course of action following the BSE's decision.