Emkay Global to issue warrants, amend articles to fund growth

Emkay Global Financial Services Limited held a board meeting on September 22, 2025, approving the issuance of up to 9,500,000 convertible warrants at a price of INR 239.50 per warrant. This preferential issue aims to raise up to INR 2,27,52,50,000, with each warrant convertible into one equity share of face value INR 10 at a premium of INR 229.50 within 18 months. The floor price for the equity shares is INR 239.36.

The preferential issue will see Antique Securities Private Limited (non-promoter) subscribe to 7,500,000 warrants, Krishna Kumar Karwa (promoter) to 1,250,000 warrants, and Prakash Kacholia (promoter) to 750,000 warrants. Post-conversion, Antique Securities' stake will be 21.36%, Krishna Kumar Karwa's 17.58%, and Prakash Kacholia's 15.67%.

Additionally, the company will amend its Articles of Association by inserting Article 2A to empower future securities issuance, subject to shareholder and regulatory approvals. An Extra-Ordinary General Meeting (EGM) is scheduled for October 17, 2025, to seek shareholder approval for these matters.