Summary of Key Information:

Nature of Filing / Announcement: Outcome of Board Meeting and Disclosure under Regulation 30 of SEBI LODR

Date of Board Meeting / Approval: 30th June, 2026

Meeting Duration: 6:00 PM to 6:30 PM

Corporate Actions:

Acquisition Details:

  • The Board of Directors approved 100% acquisition of Wealth First Advisors Private Limited ("Target Entity"), a wealth management and distribution business enterprise
  • Acquisition will be completed in Two Phases:
  • Phase I: Acquisition of 51% Equity Shares to be completed on or before 31st December 2026
  • Phase II: Acquisition of remaining 49% Equity Shares to be completed on or before 31st March 2030
  • Post Phase I, Target Entity will become Subsidiary of the Company
  • Post Phase II, Target Entity will become Wholly-owned subsidiary of the Company

Financial Consideration:

  • Phase I: Total consideration of ₹52.10 Crore for 51% stake
  • ₹40 Crore by way of cash consideration
  • ₹12.10 Crore by way of issue of new equity shares under share swap
  • Phase II: Consideration to be determined at future date based on valuation metrics in MOU
  • To be discharged by issue of new equity shares under share swap

Target Entity Financials (as on 31st March, 2026):

  • Authorized Share Capital: ₹2,00,00,000 (2 Crore) divided into 20,00,000 Equity Shares of ₹10/- each
  • Paid Up Share Capital: ₹41,04,000 divided into 4,10,400 Equity Shares of ₹10/- each
  • Turnover: ₹17,91,08,000
  • PAT: ₹6,03,78,000
  • Net Worth: ₹22,01,44,000

Historical Turnover:

  • 2025-26: ₹17,91,08,000
  • 2024-25: ₹16,67,69,000
  • 2023-24: ₹12,17,12,000

Regulatory Disclosures:

  • Acquisition constitutes a related party transaction
  • Promoter and Managing Director Mr. Ashish Shah has 10.62% beneficial interest in target entity
  • Transaction is being undertaken on arm's length basis based on independent valuer's report
  • Investment falls within limits prescribed under Section 186(2) of Companies Act, 2013
  • Subject to shareholder approval under Section 188 of Companies Act and Regulation 23 of SEBI LODR
  • Requires applicable regulatory approvals

Strategic Rationale:

  • To expand assets, distribution footprint, scale, operations and market position through inorganic growth
  • Acquisition of controlling stake in company engaged in similar business activities
  • Focus on Mumbai, India's largest Wealth Management Market

Target Entity Background:

  • Business: Wealth Management / Mutual Fund and financial product distribution
  • Date of incorporation: 01/06/2001
  • Country of presence: India

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