Shareholders approve change in use of Rs. 4,134.38 Lakhs unutilised warrant proceeds

Shareholders at the 41st AGM (22/09/2026) approved altering the use of unutilised preferential warrant proceeds of Rs. 4,134.38 Lakhs.

Tue 29 Sep 2026

Total Unutilised Warrant Proceeds

Rs. 4,134.38 Lakhs

Allocation to Silver Sage Trading LLC Dubai

Rs. 2,300.00 Lakhs

Allocation to Fundviser Capital

Rs. 1,474.38 Lakhs

Allocation to New India RE & Infra LLP

Rs. 360.00 Lakhs

Outstanding Convertible Warrants

45,00,000

What was shared

Fundviser Capital (India) Limited has submitted an additional disclosure to BSE on Item No. 4 of the notice of its 41st Annual General Meeting held on 22nd September, 2026. Shareholders passed a special resolution altering the objects for which unutilised proceeds of the preferential issue of convertible warrants will be used.

Background on the warrants

• The Company allotted 64,85,000 Convertible Warrants to Promoter/Promoter Group and Strategic Investors (Non-Promoter Group) on 25/11/2025, after receiving 25% of the issue price.
• On 23/03/2026, 19,85,000 Equity Shares were allotted on conversion of 19,85,000 warrants by holders who paid the balance 75% of the issue price.
• 45,00,000 Convertible Warrants remain outstanding for conversion into an equal number of equity shares.

Original plan and status

Original allocation totalled Rs. 7,944.13 Lakhs, of which Rs. 3,478.54 Lakhs was utilised till 30/06/2026 and Rs. 3,809.75 Lakhs till 11/08/2026, leaving Rs. 4,134.38 Lakhs available.

• DARS Transtrade Private Limited (material subsidiary): allocation Rs. 4,500.00 Lakhs, balance Rs. 3,126.30 Lakhs
• Starlight Box Theatres Private Limited (material subsidiary): allocation Rs. 1,250.00 Lakhs, balance Rs. 734.90 Lakhs
• New India RE & Infra LLP (Company holds 64% of capital): allocation Rs. 1,250.00 Lakhs, balance Rs. 360.00 Lakhs
• Fundviser Capital itself: allocation Rs. 944.13 Lakhs, already utilised Rs. 1,030.95 Lakhs

Revised plan

• Silver Sage Trading LLC, Dubai: Rs. 2,300.00 Lakhs, redirected from the DARS Transtrade allocation
• Fundviser Capital (India) Limited: Rs. 1,474.38 Lakhs for ongoing business operations, including Rs. 826.30 Lakhs from the DARS balance and Rs. 734.90 Lakhs from the Starlight balance
• New India RE & Infra LLP: Rs. 360.00 Lakhs, no change
• Revised total matches the available balance of Rs. 4,134.38 Lakhs

Reasons given

The Company states DARS Transtrade faced operational approval issues from banks for remittance of funds abroad for its business transactions. Starlight Box Theatres' funding requirement was lower under revised business plans. The Company has acquired Silver Sage Trading LLC, a single owner Limited Liability Company incorporated under the laws of the United Arab Emirates, which became its Wholly Owned Foreign Subsidiary with effect from 3rd April, 2026. That LLC is engaged in general trading including commodities, metals scrap and electronics trading, described as a growing activity requiring extensive funds.

How to read it

The resolution also covers further funds that would be received on conversion of the remaining warrants. A change in stated use of raised funds is a matter investors often track, since the money is moving away from the originally approved purposes towards a newly acquired overseas subsidiary and the parent's own operations. The Company attributes the change to business challenges, operational difficulties and changed financial requirements.

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