SGSMC Global Securities543263Preferential allotment

EGM notice: nod sought for 1,00,00,000 fully convertible warrants on preferential basis

An EGM is scheduled for Friday, 06 November 2026 at 11:00 a.m. (IST) through video conferencing.

By ScoutQuest · Thu 15 Oct 2026, 7:33 PM IST · 3 min read

Warrants on preferential basis

up to 1,00,00,000 fully convertible warrants to 'Non-Promoter' persons/entities

Issue price

Rs. 106/- per warrant; total up to Rs. 106 crore

Payment and tenor

25% payable at allotment; 18-month tenor

What is being voted on

SMC Global Securities has convened an Extra-Ordinary General Meeting (EGM) on Friday, 06 November 2026 at 11:00 a.m. (IST), to be held through video conferencing / other audio-visual means. Members are being asked to approve one item of special business by way of a special resolution.

The resolution

• Issue of up to 1,00,00,000 fully convertible warrants to persons or entities belonging to the 'Non-Promoter' category, on a preferential basis.
• Issue price: Rs. 106/- per warrant.
• Size of the issue: up to Rs. 106 crore.
• Each warrant is convertible into one fully paid-up equity share of the company.

Proposed allottees

• Mahesh Kumar (Non-Promoter) — up to 42,00,000 warrants.
• SGS Fintech Private Limited (Non-Promoter) — up to 33,00,000 warrants.
• Open Advanced Technologies LLP (Non-Promoter) — up to 25,00,000 warrants.

Payment and exercise terms

• A minimum of 25% of the warrant issue price is payable at the time of subscription and allotment; the remaining amount is payable at the time of exercise, when the holder converts the warrants into equity shares.
• The right attached to the warrants may be exercised in one or more tranches, at any time on or before the expiry of 18 (eighteen) months from the date of allotment.
• Any warrant not exercised within that period lapses, and the amount paid on it stands forfeited.

Other terms set out in the notice

• The warrants do not carry voting rights until they are converted into equity shares, and do not give the holder the rights of an equity shareholder until then.
• Equity shares allotted on conversion will rank pari passu with the existing equity shares, including dividend and voting rights.
• The warrants and the resulting equity shares are subject to lock-in for the periods specified under Chapter V of the SEBI ICDR Regulations.
• During the lock-in period the warrants cannot be sold, transferred, hypothecated or encumbered, except to the extent permitted.
• The consideration is to be paid to the company from the bank account of the proposed allottee.
• The issue and allotment are subject to applicable laws and receipt of necessary regulatory permissions and approvals; the shares will be listed on the stock exchange(s) where the company's equity shares are listed.
• The relevant date for determining the floor price for the preferential issue is Wednesday, 07 October 2026.

Meeting details for members

• The EGM will be held on Friday, 06 November 2026 at 11:00 a.m. (IST) through video conferencing / other audio-visual means.
• Remote e-voting runs from 9:00 a.m. on Tuesday, 3rd November, 2026 to 5:00 p.m. on Thursday, 5th November, 2026.
• The cut-off date for eligibility to vote is 30th October, 2026.

What this means

This is a proposal to bring in three non-promoter investors through convertible warrants. Because only a quarter of the money is received at allotment, the full amount comes in only if and when the warrants are exercised. Conversion would create new equity shares, so the pricing, the payment schedule and the lock-in terms are the details to follow. Being a special resolution, the item needs member approval at the EGM.

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