Share India Securities Limited, a prominent player in the Indian financial services sector, has announced a significant change in its senior management structure. Prabhakar Tiwari, who held the position of Senior Vice President and was designated as Senior Management Personnel, has tendered his resignation with immediate effect.

Key Details of the Resignation

Impact and Company Response

The sudden departure of a senior executive often signals significant changes within an organization. Share India Securities has acknowledged Tiwari's contributions during his tenure and has initiated the necessary relieving formalities. This move suggests that the company is prepared to manage the transition.

Regulatory Compliance

In compliance with regulatory requirements, Share India Securities Limited has disclosed this information under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This transparency ensures that shareholders and the market are promptly informed of significant changes in the company's management structure.

Looking Ahead

While the company has not provided specific details about the strategic transitions mentioned, such changes in senior management may precede shifts in company direction or strategy. Shareholders and market observers will likely be watching closely for any subsequent announcements that might shed light on Share India Securities' future plans and how they intend to fill this key position.

As the financial services landscape continues to evolve, management changes of this nature can have implications for a company's trajectory. It remains to be seen how this resignation might impact Share India Securities' operations and strategic direction in the coming months.

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.