Emerald Finance Completes Major Share Allotment Boosting Equity Capital

Emerald Finance Limited has finalized the allotment of 10,00,000 equity shares at a premium price, increasing its equity share capital to support growth strategies. The new shares were distributed among several non-promoter entities, including Minerva Ventures Fund and notable business figures like Rajesh Jain.

Emerald Finance Limited, listed on the Bombay Stock Exchange, has successfully allotted 10,00,000 equity shares, each priced at Rs100, which includes a Rs90 premium, as part of its preferential issue. This allotment follows all necessary approvals from shareholders and regulatory bodies, including a crucial nod from BSE Limited in late December 2024.

The shares were allocated to various non-promoter entities, with Minerva Ventures Fund, a Mauritius-based Foreign Portfolio Investor, receiving 5,00,000 shares. Other significant allotments included 30,000 shares to Rajesh Jain, an esteemed KPMG founding partner in India and former Head-Markets at Walker Chandiok LLP, as well as shares to Amartara Rondo Packaging Industries LLP, Sonam Dharia, and others.

With this issuance, Emerald Finance's fully paid-up equity share capital has risen from Rs32.78 Cr to Rs33.78 Cr, fortifying its financial base to pursue strategic growth initiatives. Managing Director Sanjay Aggarwal emphasized the confidence this move signifies from stakeholders, and discussed plans to enhance the company's offerings in Employee Welfare Administration services, including a new salary advance product.

(With inputs from agencies.)