Viji Finance Limited, a well-known financial services company, has taken a major strategic step towards strengthening its capital base. On April 23, 2026, the company conducted its Extra-Ordinary General Meeting (EGM) through video conferencing (VC) and other audio-visual means (OAVM), ensuring seamless participation from shareholders across locations.

The key highlight of this EGM was the approval of a preferential issue of warrants convertible into equity shares, which received overwhelming support from shareholders. This development reflects strong investor confidence in the company’s growth strategy and future prospects.

Key Decision: ₹1275 Crore Warrants Issue Approved

The most significant resolution passed during the EGM was related to the issuance of 12,75,00,000 warrants, each convertible into equity shares of face value Re.1/-.

This issuance is proposed on a preferential basis to non-promoter and other investors, which means the company is looking to bring in fresh capital from external investors rather than promoters.

The total value of this issue is approximately ₹1275 crore, making it a major capital raising initiative for Viji Finance Limited.

Why is this important?

This move is crucial because:

• It boosts the company’s financial strength
• Provides funds for expansion and business growth
• Enhances liquidity and operational capabilities
• Signals confidence of investors and management in future opportunities

Voting Results: Massive 99.98% Approval

One of the most striking aspects of the EGM was the near-unanimous approval by shareholders.

Voting Highlights:

• Total votes polled: 71,062,717
• Votes in favour: 71,055,397
• Votes against: 7,320
• Approval percentage: 99.9897%

This clearly shows that almost all shareholders supported the resolution, indicating high trust in the management’s decision.

Category-wise Voting Analysis

Promoter and Promoter Group

• Total votes: 67,944,002
• Votes in favour: 100%
• Votes against: 0%

The promoters showed complete support, which is a strong positive signal for the market.

Public – Non-Institutional Investors

• Votes polled: 3,118,715
• Votes in favour: 3,111,395
• Votes against: 7,320
• Approval rate: 99.76%

This category also showed overwhelming support, proving that retail investors are aligned with the company’s vision.

Public Institutional Investors

Interestingly, no votes were cast by institutional investors in this resolution. However, this does not impact the outcome due to the massive support from promoters and public shareholders.

Meeting Participation Details

The EGM was conducted entirely through digital means, in line with SEBI and Ministry of Corporate Affairs (MCA) guidelines.

Participation Highlights:

• Total shareholders on record date: 62,937
• Promoters attended via VC: 3
• Public shareholders attended via VC: 33

Even though physical attendance was not possible, the digital format ensured transparency and participation.

Role of Scrutinizer and Transparency

The voting process was monitored by L.N. Joshi, Practicing Company Secretary, who acted as the independent scrutinizer.

The company ensured:

• Fair and transparent voting process
• Compliance with Companies Act, 2013
• Adherence to SEBI Listing Regulations
• Use of CDSL platform for e-voting

The scrutinizer confirmed that the resolution was passed with requisite majority, ensuring full regulatory compliance.

Timeline of Voting Process

The company followed a structured voting process:

• Cut-off date: April 16, 2026
• Remote e-voting period: April 20 to April 22, 2026
• EGM date: April 23, 2026

This ensured that all eligible shareholders had sufficient time to participate in the decision-making process.

Strategic Importance of Preferential Issue

The approval of this warrants issue is not just a routine corporate action. It has deep strategic implications.

1. Capital Infusion for Growth

The funds raised will help the company:

• Expand its financial services operations
• Invest in new business opportunities
• Strengthen working capital position

2. Attracting New Investors

Since the issue is targeted at non-promoter investors, it can:

• Bring in fresh strategic investors
• Improve market perception
• Enhance shareholder base diversity

3. Future Equity Conversion

Warrants will eventually be converted into equity shares, which means:

• Increase in equity capital over time
• Potential dilution of shareholding, but balanced by growth
• Opportunity for investors to benefit from future price appreciation

Impact on Shareholders

For existing shareholders, this move has both advantages and considerations.

Positive Aspects

• Strong capital base improves company stability
• Growth initiatives can lead to higher returns in future
• Increased investor interest may boost stock performance

Points to Watch

• Dilution of equity post conversion
• Execution of growth plans using raised funds
• Market reaction to preferential pricing and allocation

Compliance with SEBI and MCA Guidelines

The entire process was conducted in strict compliance with:

• SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
• Companies Act, 2013
• MCA Circulars for virtual meetings

This ensures that the decision is legally sound and transparent, increasing investor confidence.

Digital Transformation in Corporate Governance

One interesting aspect of this EGM is the complete digital execution.

The use of:

• Video conferencing (VC)
• E-voting platforms like CDSL
• Online participation tools

Shows how companies are adapting to modern governance practices.

This not only improves efficiency but also ensures wider participation from shareholders.

Market Perspective and Future Outlook

The approval of this resolution is likely to have positive implications for Viji Finance’s future.

Market Sentiment

• Strong voting support indicates positive sentiment
• Investors may view this as a growth-oriented move
• Could lead to increased interest in the stock

Future Growth Expectations

With additional capital, the company may:

• Expand into new financial segments
• Strengthen its existing business lines
• Improve profitability and operational efficiency

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