WFWealth First Portfolio Managers544536Preferential allotment

EGM on 21st November, 2026 to vote on share-swap preferential allotment and related party limit

1st EGM of FY 2026-27 on Saturday, 21st November, 2026 at 02.00 PM IST, via video conference.

By ScoutQuest · Fri 30 Oct 2026, 11:47 AM IST · 3 min read

Preferential Allotment Size

up to ~1.37 lakh equity shares at Rs. 885.89/- each, up to Rs. 12.10 Crores

Consideration / Stake Acquired

up to 48,603 shares (11.84% stake) of Wealth First Advisors Pvt Ltd, consideration other than cash

Related Party Transaction Limit

with Lakshya Asset Management Pvt Ltd up to Rs. 60 crore

The meeting

The company has called its 1st Extra-Ordinary General Meeting for the financial year 2026-27 on Saturday, 21st November, 2026 at 02.00 PM IST, to be held through video conferencing or other audio-visual means. Remote e-voting runs from 09:00 A.M. on Wednesday, 18th November, 2026 to 05:00 P.M. on Friday, 20th November, 2026, both days inclusive. The cut-off date to decide who can vote is Saturday, 14th November, 2026. Up to 1000 members can join on a first come first served basis.

Resolution 1 - preferential allotment

• Up to ~1.37 lakh equity shares of face value Rs. 10/- each, at an issue price of Rs. 885.89/- per equity share, which includes a premium of Rs. 875.89 per share.
• The amount works out to not more than Rs. 12.10 Crores.
• The consideration is other than cash. The shares are proposed to be allotted to shareholders of Wealth First Advisors Private Limited in lieu of the company acquiring up to 48,603 equity shares, an 11.84% stake in that company, through a swap of shares.
• The proposed allottees are promoter Ashish Navnital Shah (9.24% of WFAPL, holding 37,913 WFAPL shares, to get 1,06,536 company shares), and non-promoters Nimesh Narendra Kenia (2.01%, 8,253 WFAPL shares, 23,191 company shares) and Rakesh Pravinchandra Mehta (0.59%, 2,437 WFAPL shares, 6,848 company shares).
• This is a special resolution, so it needs a higher level of shareholder approval than an ordinary resolution.

Resolution 2 - related party transaction

• An ordinary resolution to approve material related party transactions with Lakshya Asset Management Private Limited, a related party, covering sale, purchase, loans, contracts, arrangements, investments and transfer of resources.
• The aggregate value of such transactions is stated as not exceeding Rs. 60 crore (Rupees Sixty Crores).
• The resolution follows approval of the Audit Committee and a recommendation of the Board.

Other terms stated for the allotment

• The new shares will rank pari passu with existing equity shares, including dividend, and will be issued in dematerialised form.
• Listing is proposed on BSE Limited and National Stock Exchange of India Limited, subject to approvals.
• Allotment within 15 days from the date of passing the special resolution, or within 15 days from the date of approval where any regulatory permission is pending.
• Lock-in applies as prescribed under Regulation 167 of the SEBI (ICDR) Regulations, 2018, and the shares are not to be sold, transferred, hypothecated or encumbered during that period.
• A monitoring agency is stated as not applicable, since the aggregate consideration does not exceed Rs. 100 Crores.

What it means for retail investors

• The first resolution is about paying for a stake in another company with the company's own shares rather than cash. Issuing new shares means the total number of shares goes up, which is how existing shareholders' percentage holding can change.
• Because no cash comes in, the company's cash position is not directly increased by this allotment.
• The allottees include a promoter, so the promoter group's shareholding is proposed to rise by the shares allotted to it.
• The second resolution sets a ceiling for dealings with a related entity. Shareholders are being asked to approve that ceiling value in advance.
• Both items are resolutions placed for a vote; the notice sets out what shareholders are being asked to approve. Voting for the meeting is by remote e-voting and at the meeting, so eligible holders can decide on both items.

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