Shareholders Approve Acquisition of up to 100% in My Money Credits for up to Rs 10 Cr
My Money Securities Limited held its 35th AGM on September 27, 2026, where shareholders approved key resolutions including an acquisition of up to 100% equity in My Money Credits Private Limited (MMCPL). The aggregate consideration is capped at not exceeding Rs 10.00 crore, which represents approximately 32% of the company's net worth (Rs 31 Cr) and 5x its TTM revenue (Rs 2 Cr). The company currently holds 19.35% in MMCPL, a related party sharing common directors Mr. Sanjai Seth and Mr. Vikas Seth. Additionally, the re-appointment of Sanjai Seth as Executive Director and CFO for a 5-year term through 2031 was approved.
உச்சம் நம்பிக்கை
என்ன மாறியதுShareholders approved advancing the stake in related entity MMCPL from 19.35% to up to 100% for a consideration of up to Rs 10 crore.
ஏன் இது முக்கியம்The acquisition will consolidate MMCPL into the company's financials, significantly expanding its financial services footprint relative to its small standalone revenue base (Rs 2 Cr TTM).
Max Acquisition Consideration: Rs. 10.00 கோடிConsideration vs Net Worth: ~32.3%Current Holding in Target: approximately 19.35%Target Paid-up Capital: Rs. 3,97,50,000CFO Term: up to 40th AGM in 2031
📅 குறுகிய காலம்Scrutinizer's voting report is expected on or before September 29, 2026. Attention will focus on formal agreement execution and pricing based on the Registered Valuer's report.
📈 நீண்ட காலம்If successfully acquired, MMCPL will become a wholly owned subsidiary, giving My Money Securities direct monetary intermediation and credit exposure to consolidate into earnings.
⚠ அபாய எச்சரிக்கைகள்
- Related-party transaction involving common promoter-directors (Mr. Sanjai Seth and Mr. Vikas Seth)
- Significant capital commitment relative to current standalone revenue
- Potential regulatory/RBI clearances if the target operates as an NBFC
👀 கவனிக்க வேண்டியவை
Track subsequent disclosures on the final valuation report, definitive share purchase agreements, execution timeline, and required regulatory approvals (such as RBI, if applicable for NBFC operations).
