Board approves ESOP ratifications, Articles change with director nomination rights, capital reclassification
Board approved, by circular resolution, ratification of ESOP 2015 and its extension to subsidiary employees, plus funding for a trust that buys the company's own shares for employees.
By ScoutQuest · · 3 min read
- Authorised capital
- INR 2,53,15,20,000
- Post-reclassification share capital
- 2,53,15,20,000 equity shares of INR 1/- each
- Accel Group nomination threshold
- at least 10% on a fully-diluted basis
What the Board approved
The Board passed a circular resolution on October 20, 2026 approving several items. Each of them is subject to the approval of the members, which the company will seek through a postal ballot.
- Ratification of Moneyview Employees Stock Option Plan 2015.
- Ratification of extending the benefits of ESOP 2015 to employees of the company's subsidiaries.
- Ratification of the company providing funds for the purchase of its own shares by Moneyview Employees Trust, for the benefit of employees under ESOP 2015.
- Alteration of the Articles of Association.
- Reclassification of the authorised share capital and alteration of the Capital Clause of the Memorandum of Association.
- Notice of the postal ballot seeking members' approval for these items.
New nomination rights in the Articles
Three new articles, 82A, 82B and 82C, are proposed to be inserted immediately after Article 82:
- Puneet Agarwal may nominate 1 Director so long as he holds 5% of the shareholding on a fully-diluted basis, collectively with Sanjay Aggarwal, and is employed with the company or its subsidiaries.
- Sanjay Aggarwal has a matching right on the same terms: 5% holding, collectively with Puneet Agarwal, and employment with the company or its subsidiaries.
- The Accel Group may nominate 1 Director so long as it cumulatively holds at least 10% on a fully-diluted basis, and the right falls away for any Accel entity that ceases to hold shares. The Accel Group means, collectively, Accel India VI (Mauritius) Limited, Accel India VII (Mauritius) Limited, Accel Growth IV Holdings (Mauritius) Limited and Accel India IV (Mauritius) Limited.
- Part B of the existing Articles of Association shall stand deleted in its entirety.
Authorised capital: same size, different mix
The authorised share capital stays at INR 2,53,15,20,000. What changes is its composition. It currently spans equity shares and a long list of compulsorily convertible preference share series, at face values of INR 10/-, INR 100/- and INR 1/-, and is to be reclassified into equity share capital.
- Existing equity component: 250 crore equity shares of INR 1/- each.
- Existing preference component includes, among others, 2,40,000 Series A CCPS of INR 10/- each, 3,90,000 Series A1 CCPS of INR 10/- each and 3,30,000 Series B CCPS of INR 10/- each.
- After reclassification: 2,53,15,20,000 equity shares having a face value of INR 1/- each, and Clause V of the MOA is substituted to say exactly that.
What this means for retail investors
- Authorised capital is the ceiling up to which a company can issue shares. The reclassification changes the class of shares that ceiling is expressed in, not the rupee size of the ceiling.
- The nomination rights are rights written into the Articles, tied to two named individuals and an investor group, and they fall away if the stated shareholding thresholds or employment conditions are not met.
- The ESOP items relate to employee stock options and to a trust that buys the company's own shares for employees, funded by the company.
- These items take effect only after members approve them. The postal ballot notice will be circulated within the prescribed timelines and disclosed to the stock exchanges on the date of dispatch.
Also from Moneyview
Board approves ESOP ratifications, AOA changes, share capital reclassification; postal ballot to seek member nod
20 Oct 2026
Moneyview invests Rs. 250 crore in wholly owned subsidiary Whizdm Finance via 8,00,000 equity shares
15 Oct 2026
Moneyview stock doubled from its IPO price, now up 62% since listing
12 Oct 2026
More numbers
- Authorised share capital (existing and after reclassification)INR 2,53,15,20,000
- Equity shares in existing authorised capital2,50,00,00,000
- Equity shares after reclassification2,53,15,20,000
- Face value per equity share after reclassificationINR 1/-
- Nomination right threshold for Puneet Agarwal and Sanjay Aggarwal5%
- Nomination right threshold for Accel Group10%
- Series A compulsorily convertible preference shares2,40,000
- Series A1 compulsorily convertible preference shares3,90,000
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