Emkay Global Financial Services Allots 4,15,100 Equity Shares to Promoter on Conversion of Convertible Warrants

Emkay Global Financial Services has allotted 4,15,100 fully paid-up equity shares to promoter Mr. Krishna Kumar Karwa on May 12, 2026, following the exercise and conversion of an equal number of convertible warrants. The allotment was approved by the company's Management Committee at its meeting held on the same date, which commenced at 15.00 P.M. (IST) and concluded at 15.30 P.M. (IST). This development is in furtherance of the company's earlier intimation dated October 24, 2025, regarding the preferential allotment of 95,00,000 convertible warrants.

Background: Original Warrant Allotment

On October 24, 2025, Emkay Global Financial Services had allotted 95,00,000 convertible warrants on a private placement basis to three allottees. An initial subscription amount of Rs. 59.875 per warrant, representing 25% of the issue price of Rs. 239.50 per warrant, was received at the time of allotment. The details of the original warrant allotment are as follows:

Allottee: Category 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

Warrant Conversion Details

Of the 12,50,000 warrants originally allotted to Mr. Krishna Kumar Karwa, 8,34,900 warrants had already been converted into equity shares prior to this allotment. The current allotment covers the remaining 4,15,100 warrants, completing Mr. Karwa's full conversion. The balance subscription amount of Rs. 179.625 per warrant, representing 75% of the issue price, was received for this tranche. The complete conversion details are presented below:

Parameter: Details Allottee Krishna Kumar Karwa Category Promoter Warrants Originally Held 12,50,000 Warrants Already Converted 8,34,900 Warrants Converted Now 4,15,100 Amount Received (75% @ Rs. 179.625 per warrant) Rs. 7,45,62,337.50 Equity Shares Allotted 4,15,100 Warrants Pending Conversion NIL

The equity shares have been allotted at a face value of Rs. 10 each, at a premium of Rs. 229.50 per share, resulting in an effective issue price of Rs. 239.50 per share. The newly allotted shares shall rank pari-passu in all respects with the existing equity shares of the company, including dividend, if any.

Impact on Share Capital and Shareholding

Following the allotment, the issued, subscribed, and paid-up share capital of the company has increased. The post-allotment shareholding of Mr. Krishna Kumar Karwa has also risen as a result of this conversion. The changes are summarised below:

Metric: Pre-Allotment Post-Allotment Paid-Up Capital (Rs.) Rs. 26,71,50,310 Rs. 27,13,01,310 Total Equity Shares 2,67,15,031 2,71,30,131 Mr. Karwa's Equity Shares 57,57,400 61,72,500 Mr. Karwa's Shareholding (%) 21.55% 22.75%

Regulatory Compliance

The allotment has been made in compliance with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure has been made in accordance with SEBI Master Circular No. HO/49/14/14(7)/2025-CFD-Pod2/1/3762/2026 dated January 30, 2026. With this allotment, no warrants remain outstanding to Mr. Krishna Kumar Karwa. The information has also been made available on the company's website at https://www.emkayglobal.com/ .

Emkay Global Financial Services Limited has successfully completed the allotment of 3,78,300 equity shares on April 30, 2026, following the exercise of convertible warrants by two promoters. The Management Committee approved the allotment at its meeting held on April 30, 2026, which commenced at 2.00 P.M. (IST) and concluded at 2.30 P.M. (IST).

Warrant Conversion Details

The allotment stems from the original issuance of 95,00,000 convertible warrants on October 24, 2025, through preferential allotment on a private placement basis. The warrants were issued at Rs. 239.50 per warrant, with an initial subscription of 25% (Rs. 59.875 per warrant) paid upfront.

Parameter: Details Total Warrants Originally Issued: 95,00,000 Issue Price per Warrant: Rs. 239.50 Initial Payment (25%): Rs. 59.875 per warrant Balance Payment (75%): Rs. 179.625 per warrant

Current Allotment Breakdown

Two promoters exercised their warrants in the current tranche, with Krishna Kumar Karwa converting 2,78,300 warrants and Prakash Kacholia converting 1,00,000 warrants.

Allottee: Category Warrants Converted Amount Received (Rs.) Shares Allotted Krishna Kumar Karwa: Promoter 2,78,300 4,99,89,637.50 2,78,300 Prakash Kacholia: Promoter 1,00,000 1,79,62,500.00 1,00,000 Total: 3,78,300 6,79,52,137.50 3,78,300

Impact on Share Capital

The allotment has increased the company's issued, subscribed and paid-up capital significantly. The equity shares were allotted at a face value of Rs. 10 each with a premium of Rs. 229.50 per share.

Metric: Before Allotment After Allotment Paid-up Capital: Rs. 26,33,67,310 Rs. 26,71,50,310 Number of Shares: 2,63,36,731 2,67,15,031 Face Value per Share: Rs. 10 Rs. 10

Shareholding Changes

The warrant conversion has resulted in changes to the promoters' shareholding percentages in the company.

Promoter: Pre-Allotment Shares Pre-Allotment % Post-Allotment Shares Post-Allotment % Krishna Kumar Karwa: 54,79,100 20.80% 57,57,400 21.55% Prakash Kacholia: 47,50,000 18.04% 48,50,000 18.15%

Outstanding Warrants

Following this conversion, significant warrants remain outstanding for future exercise. Krishna Kumar Karwa retains 4,15,100 warrants pending conversion, while Prakash Kacholia has 6,50,000 warrants remaining. Notably, Karwa had previously exercised 5,56,600 warrants in December 2025 and February 2026.

The newly allotted equity shares rank pari-passu in all respects with existing equity shares of the company, including dividend rights. The company has informed stock exchanges NSE and BSE about this development in compliance with SEBI Listing Regulations.

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