Gretex Corporate Services Clarifies Terms for Proposed Preferential Issue of 1,00,000 Equity Warrants

Gretex Corporate Services Limited has provided detailed clarifications regarding its proposed preferential issue of equity warrants following observations raised by stock exchanges. The company filed an in-principle application for the preferential issue of 1,00,000 equity warrants with specific terms and conditions. Issue Structure and Pricing The proposed preferential issue involves the following key parameters: Parameter: Details Number of Warrants: 1,00,000 (One Lakh) Face Value: ₹10.00 per warrant Issue Price: ₹300.00 per warrant Premium: ₹290.00 per warrant Regulatory Compliance Clarifications The company addressed several key regulatory aspects in response to stock exchange observations. Regarding Regulation 166A of SEBI ICDR Regulations, Gretex Corporate Services clarified that this regulation is not applicable to the present preferential issue. The company explained that the proposed allotment does not result in any change in control and does not exceed 5% of the post-issue fully diluted share capital. The reference to Regulation 166A in the Postal Ballot Notice dated December 13, 2025, was included only as a precautionary disclosure. Fund Utilization Framework The company provided comprehensive details about the intended use of proceeds and timeline for fund utilization: Utilization Phase: Timeline Purpose 25% Upfront Amount: FY 2025-26 Working capital requirements Balance Amount: FY 2026-27 Upon warrant conversion to equity The objects of the issue are specifically aimed at supporting the company's business operations and strategic initiatives, with proceeds being utilized towards meeting working capital requirements that form an integral part of the company's business operations and strategic objectives. Valuation and Governance Measures Despite the regulatory exemption, Gretex Corporate Services has voluntarily obtained a valuation report from an independent registered valuer. This step demonstrates the company's commitment to upholding good governance practices, even though the proposed allotment is below 5% of the post-issue share capital and does not mandate such valuation under applicable regulations. The clarifications were signed by Bhavna Desai, Company Secretary and Compliance Officer, and submitted to both the National Stock Exchange Limited and BSE Limited on January 16, 2026. These clarifications aim to address all observations raised by the stock exchanges and provide transparency to shareholders regarding the preferential issue process. Gretex Corporate Services Limited has submitted its investor presentation for the Q3FY26 earnings call to the National Stock Exchange of India Limited and BSE Limited under Regulation 30. The presentation covers the company's performance for the quarter and nine months ended December 31, 2025. Financial Performance Overview The company's Q3FY26 consolidated financial results show mixed performance compared to previous quarters. Total income for Q3FY26 stood at ₹54.80 crores, representing a decline from ₹80.20 crores in Q3FY25 and ₹67.40 crores in Q2FY26. Metric Q3FY26 Q3FY25 Q2FY26 Total Income ₹54.80 cr ₹80.20 cr ₹67.40 cr EBITDA ₹12.30 cr ₹2.00 cr ₹19.60 cr EBITDA Margin 22.40% 2.60% 29.00% PAT ₹6.90 cr ₹1.30 cr ₹12.90 cr PAT Margin 12.50% 1.60% 19.20% Business Segments and Revenue Mix The company operates through two primary business segments: Market Making & Broking Business and Merchant Banking. For Q3FY26, Market Making & Broking Business contributed ₹33.50 crores while Merchant Banking generated ₹8.60 crores in revenue. Track Record and Market Position Gretex Corporate Services has established itself as a significant player in the IPO market, having completed 60 IPO issues to date with total funds raised of approximately ₹1,447 crores. The company has handled 58 SME IPOs raising around ₹1,247 crores and 1 Main Board IPO raising ₹132 crores. Achievement Details Total IPOs 60 issues SME IPOs 58 (BSE SME: 41, NSE Emerge: 17) Main Board IPOs 1 (BSE, NSE) Total Funds Raised ~₹1,447 crores Recent Quarter Achievements During Q3FY26, the company successfully completed 3 IPOs, 1 de-listing, and 6 mandates in valuation & advisory services. The company has filed DRHP for 6 issues with total funds to be raised of approximately ₹330 crores. Business Expansion Plans The company has outlined several strategic initiatives for future growth, including applying for CAT II AIF in January 2026, planning to list Gretex Share Broking Limited on the Main Board, and exploring inorganic opportunities in retail broking. The company targets raising approximately ₹20,000 crores over the next 3 years through private equity placements and IPOs. Leadership and Recognition The company is led by Managing Director and CFO Alok Harlalka, who brings over 28 years of experience in capital markets. The company has been consistently recognized by leading exchanges and industry bodies, including being felicitated as Top Performing Merchant Banker by NSE Emerge and receiving recognition from BSE for Distinguished Contribution to Enabling SME & Startup Listings. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians. As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation. We plan to change that - a technology-led platform built for super traders and long term investors.