Emkay Global allots 9.5m convertible warrants in preferential issue

Emkay Global Financial Services Limited announced the allotment of 9,500,000 convertible warrants on a preferential issue basis. This follows approval by shareholders and in-principle approval from both the NSE and BSE. The company received an initial payment of INR 56,88,12,500, representing 25% of the total amount payable.

The warrants, convertible into an equivalent number of equity shares with a face value of INR 10 each, were issued at an issue price of INR 239.50 per warrant, including a premium of INR 229.50. The conversion can be exercised within 18 months from the allotment date. Key allottees include Antique Securities Private Limited (7,500,000 warrants), Krishna Kumar Karwa (1,250,000 warrants), and Prakash Kacholia (750,000 warrants).

Upon full conversion of all warrants, the post-issue equity shareholding of Antique Securities Private Limited will be 21.36%, Krishna Kumar Karwa's will be 17.58%, and Prakash Kacholia's will be 15.67%, significantly altering the company's ownership structure.