Summary of Key Information:
Reporting Period (Quarter/Year): Not Specified
Nature of Filing / Announcement: Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015
Audit Opinion:
Not Specified
Auditor’s Comment:
Not Specified
Key Financial Highlights:
Not Specified
Corporate Actions:
Execution of Share Purchase Agreement:
A Share Purchase Agreement (SPA) dated 26th October 2026 was executed between Wealth First Portfolio Managers Limited (the Company), Wealth First Advisors Private Limited (the Target Entity), and the Shareholders of Wealth First Advisors Private Limited.
Pursuant to the SPA, the Company agreed to acquire up to 2,09,304 equity shares, constituting 51.00% of the total outstanding equity share capital of the Target Company.
The total consideration for the acquisition is approximately ₹52.10 Crores.
The consideration is to be paid partly through cash and partly through a share swap (non-cash consideration).
The sale price per equity share of the Target Company is ₹2,489.11.
The Target Entity, Wealth First Advisors Private Limited, is a Promoter Group Company of the Listed Entity.
The proposed acquisition constitutes a related party transaction. The Promoter and Managing Director of the Company, Mr. Ashish Shah, has a 9.24% beneficial interest in the target entity.
The transaction is being undertaken on an arm's length basis, with consideration determined by an independent valuation report from M/s Den Valuation (OPC) Private Limited (IBBI Registration No. IBBI/RV-E/06/2021/146).
Shareholder approval for this Related Party Transaction was already obtained at the 24th Annual General Meeting held on 24th September 2026.
The consummation of the transaction is subject to satisfaction of conditions precedent, including receipt of relevant statutory approvals.
Approval of Issue of Equity Shares under Preferential Issue:
Subject to shareholder approval and other necessary statutory/regulatory approvals, the Board approved a preferential issue of equity shares.
The Company will issue and allot up to 1,36,575 Equity Shares of face value ₹10 each, fully paid-up.
The issue price is ₹885.89 per share, which includes a premium of ₹875.89 per share.
The total aggregate issue size is up to ₹12.10 Crores.
The shares are being issued for consideration other than cash, specifically against the acquisition of up to 48,603 equity shares (11.84% stake) in the Target Company from the selling shareholders.
The issuance is governed by Section 62 read with Section 42 of the Companies Act, 2013 and Chapter V of the SEBI (ICDR) Regulations, 2018.
The proposed allottees and the number of shares to be allotted to them are:
- Mr. Ashish Navnitlal Shah (Promoter): 1,06,536 shares
- Mr. Nimesh Narendra Kenia (Non-Promoter): 23,191 shares
- Mr. Rakesh Pravinchandra Mehta (Non-Promoter): 6,848 shares
A valuation report from M/s Den Valuation (OPC) Private Limited has been obtained and taken on record by the Board.
The Relevant Date for pricing is fixed as Thursday, 22nd October 2026.
The resolution is subject to approval by shareholders via a Special Resolution at an Extraordinary General Meeting (EGM), approval from Stock Exchanges, and other required approvals.
Post-allotment, the newly issued shares will rank pari-passu with existing equity shares.
The pre-issue and post-issue shareholding of the allottees is detailed in the annexures.
Other Significant Information:
Convening of Extraordinary General Meeting:
The Board approved convening the 1st Extraordinary General Meeting (EGM) for FY 2026-27 on Saturday, 21st November 2026 at 02:00 P.M IST.
The meeting will be held through Video Conferencing (VC)/ Other Audio Visual Means (OAVM).
CS Kunal Sharma, Proprietor of Kunal Sharma & Associates, Practicing Company Secretaries, was appointed as the Scrutinizer for the E-Voting process.
Meeting Details:
The Board meeting commenced at 11:00 A.M and concluded at 11:55 A.M on 26th October 2026.
#WealthFirstPortfolioManagers #M&A #Acquisition #PreferentialIssue #RelatedPartyTransaction