Emkay Global Financial Services Allots Shares After Conversion of Convertible Warrants
Emkay Global Financial Services Limited announced the allotment of 4,15,100 equity shares, effective May 12, 2026. This issuance was made to Mr. Krishna Kumar Karwa following the exercise and conversion of convertible warrants.The conversion was approved by the Management Committee of the Company. The newly allotted equity shares, which have a face value of Rs. 10 each, were issued at a premium of Rs. 229.50 per share.
Background of Warrants
Previously, the Company had allotted a total of 95,00,000 convertible warrants on October 24, 2025, via a preferential allotment. The warrants were allocated to three allottees:
| Allottee Name | Category | Number of Warrants Allotted |
|---|---|---|
| Antique Securities Private Limited | Non-Promoter | 75,00,000 |
| Krishna Kumar Karwa | Promoter | 12,50,000 |
| Prakash Kacholia | Promoter | 7,50,000 |
| Total | 95,00,000 |
At the time of the initial allotment, an initial subscription amount was received at Rs. 59.875 per warrant, representing 25% of the issue price of Rs.239.50 per warrant.
Details of Conversion
In the current transaction, Mr. Krishna Kumar Karwa had already exercised and converted 8,34,900 warrants, resulting in the allotment of 8,34,900 equity shares.
The Management Committee approved the allotment of a further 4,15,100 equity shares of the Company. This was facilitated by the conversion of an additional 4,15,100 convertible warrants held by Mr. Karwa. The balance subscription amount received for this conversion was Rs. 179.625 per warrant, equivalent to 75% of the issue price.
The allotment details confirm the conversion of 4,15,100 warrants for the following proceeds:
| Allottee Name | Original Warrants Held | Previously Converted Warrants | New Warrants Applied | Balance Subscription Received (Rs.) | New Equity Shares Allotted |
|---|---|---|---|---|---|
| Krishna Kumar Karwa | 12,50,000 | 8,34,900 | 4,15,100 | 7,45,62,337.50 | 4,15,100 |
| Total | 4,15,100 | 7,45,62,337.50 | 4,15,100 |
Impact on Capital Structure
The capital structure of the Company changed following the allotment. The issued, subscribed, and paid-up capital increased from Rs. 26,71,50,310/- (divided into 2,67,15,031 Equity Shares) to Rs. 27,13,01,310/- (divided into 2,71,30,131 Equity Shares), all of face value Rs. 10 each.
The equity shares allotted through the conversion of warrants rank pari-passu with all existing equity shares, including dividend.
Shareholding Update
The allotment further updated the shareholder composition. Following the conversion, Mr. Krishna Kumar Karwa's shareholding proportion increased, as detailed below:
| Investor Name | Pre-Allotment Shares (No.) | Pre-Allotment Holding (%) | Allotment Shares (No.) | Post-Allotment Shares (No.) | Post-Allotment Holding (%) |
|---|---|---|---|---|---|
| Mr. Krishna Kumar Karwa | 57,57,400 | 21.55 | 4,15,100 | 61,72,500 | 22.75 |
EMKAY Stock Price Movement
Shares of Emkay Global Financial Services Limited today slipped by 3.47% to settle at ₹210.1, marking a bearish day for the financial services stock. The equity saw a total volume of 35,123 shares traded during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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