Esaar India Proposes ₹59.96 Crore Rights Issue

Company Background

Esaar (India) Limited was originally incorporated as Esaar (India) Private Limited on August 23, 1951 in Calcutta under the Companies Act, 1913. The company was converted to a public limited company and renamed Esaar (India) Limited on May 8, 1995. The registered office was shifted from West Bengal to Maharashtra effective October 13, 2011. The company received RBI registration as a non-deposit taking non-systemically important NBFC on April 5, 2016 (Registration No. B-13.02120).

Corporate Office: 101, First Floor, Western Edge I, Western Express Highway, Borivali (East), Mumbai, Maharashtra, 400066

BSE Scrip Code: 531502

The Rights Issue

Issue Size: 5,99,64,667 equity shares of face value ₹10 each

Issue Price: ₹10 per share (at par)

Total Amount: ₹59,96,46,670 (₹59.96 crore)

Rights Entitlement Ratio: 44 rights shares for every 15 fully paid-up equity shares

Record Date: Tuesday, August 25, 2026

Issue Schedule

Last date for credit of rights entitlements: August 27, 2026
Issue opening date: September 2, 2026
Last date for on-market renunciation: September 8, 2026
Issue closing date: September 11, 2026
Finalization of basis of allotment: September 15, 2026
Date of allotment: September 15, 2026
Date of credit of rights equity shares: September 16, 2026
Date of listing: September 17, 2026

Capital Structure

Pre-Issue Capital: 2,04,42,500 equity shares of ₹10 each (₹20.44 crore)

Post-Issue Capital (assuming full subscription): 8,04,07,167 equity shares of ₹10 each (₹80.41 crore)

Objects of the Issue

The net proceeds of approximately ₹58.16 crore (after deducting issue expenses of ₹1.80 crore) will be utilized as follows:

1. Augmenting capital base for lending business activities: ₹46.20 crore (79.4%)

Financing to SME and mid-sized corporates through co-lending/onward lending arrangements
Direct financing to SME and mid-sized corporate segments

2. General corporate purposes: ₹11.96 crore (20.6%)

Augmentation of working capital
Investments in technology platforms
Strategic initiatives and meeting business exigencies

The amount utilized for general corporate purposes shall not exceed 25% of the gross proceeds.

Financial Information

Financial Performance (Consolidated):

| EPS (Basic) | ₹5.45 | (₹1.10) | (₹0.24) |

Promoter and Promoter Group

Promoter: Prabhat Capital Investments Limited (holds 8,46,352 shares, 4.14%)

Promoter Group:

Vishwamani Matamani Tiwari (6,36,300 shares, 3.11%)
Prabha Vishwamani Tiwari (4,70,701 shares, 2.30%)
Dharmraj Ramsajivan Tiwari Private Trust (1,00,000 shares, 0.49%)

Total promoter and promoter group holding: 20,53,353 shares (10.04%)

Regulatory Approvals and Compliance

BSE Limited has granted in-principle approval for listing of rights equity shares vide letter dated August 14, 2026
The company confirms it is not identified as a wilful defaulter or fraudulent borrower
ISIN for rights entitlements: INE404L20013
The issue is being made under Regulation 76 of SEBI ICDR Regulations

Risk Factors

Key risks identified in the letter of offer include:

Regulatory compliance requirements with RBI as an NBFC
Need to maintain prescribed Net Owned Funds and capital adequacy ratios
Geographic concentration of operations in Maharashtra
Competitive pressures in the lending industry
Interest rate volatility and asset-liability mismatches

Issue Details

Registrar to the Issue: Purva Sharegistry (India) Private Limited

Banker to the Issue: ICICI Bank Limited

Monitoring Agency: Brickwork Ratings India Private Limited

Legal Advisor: Jitendra Sharda & Associates

Advisor to the Issue: Grow House Wealth Management Private Limited

All applications must be made through ASBA process only. The rights equity shares will be allotted only in dematerialized form.