Other Deals - Listed Firms
Kirti Doshi acquires 21% in financial services co. Emkay Global
Stock market investor Kirti Doshi has acquired nearly a 21% stake in Mumbai-based listed financial services firm Emkay Global Financial Services through his entity, Antique Securities.Doshi, along with the Emkay's promoters, Krishna Kumar Karwa and Prakash Kacholia, has invested INR 227.5 crore into the company through a warrant issue. About 75 lakh warrants were issued to Antique, where Doshi is the ultimate beneficial owner, bringing his individual investment to INR 179.6 crore. Karwa invested INR 29.9 crore, while Kacholia put in INR 17.9 crore by subscribing to 12.5 lakh and 7.5 lakh warrants, respectively.The firm issued these convertible warrants at a price of INR 239.5 apiece, with the right to convert each warrant into one equity share within 18 months of allotment.Founded in 1995, Emkay serves foreign institutional investors (FIIs), domestic mutual funds, hedge funds, banks, insurance companies and private equity.
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