Almondz Global demerger plan: 666-share ratio in 2026

Key decision cleared at the board meeting

Almondz Global Securities Limited has approved a scheme to demerge its Infrastructure Advisory Business into Almondz Global Infra Consultant Limited. The decision was taken at a board meeting held on August 24, 2026, and disclosed under Regulation 30 of the SEBI Listing Regulations. Alongside the demerger approval, the board fixed September 30, 2026, as the date for the company’s annual general meeting (AGM). The demerger scheme, as outlined by the company, still requires approvals from the National Company Law Tribunal (NCLT) and other statutory authorities. Until those approvals come through, the proposed separation remains a plan rather than a completed corporate action. The company’s disclosures also set out how shareholders and warrant holders will be treated if the scheme is implemented.

What moves to the new entity

The scheme involves spinning off the Infrastructure Advisory Business from Almondz Global Securities into Almondz Global Infra Consultant Limited. The latter is described as the “resulting company” in the disclosures. After the demerger, the resulting company will seek listing on stock exchanges. This is an important operational detail because it indicates the demerged unit is intended to operate as a separately traded entity rather than staying unlisted. The company has not provided an NCLT timeline in the disclosure, but it has clearly stated that tribunal and statutory approvals are conditions precedent. Investors typically track such approvals closely because they determine when, and whether, the corporate action reaches execution.

Share entitlement ratio for existing shareholders

The company has announced a specific entitlement ratio for shareholders of Almondz Global Securities. Shareholders will receive 666 equity shares of Almondz Global Infra Consultant Limited for every 10,000 equity shares held in Almondz Global Securities. This ratio sets the basis for how ownership in the infrastructure advisory business will be distributed among existing shareholders. The disclosure does not specify the record date or other operational dates for implementing the entitlement. Those details are usually communicated later, after regulatory processes move forward. For now, the ratio provides clarity on the mechanical structure of the demerger.

Treatment of warrants and the issue prices disclosed

Almondz Global Securities also detailed how warrant holders will be handled under the scheme. Warrant holders will receive 666 convertible warrants of the resulting company for every 10,000 outstanding warrants of the demerged company. The issue price for the resulting company’s convertible warrants is stated at ₹57.17, while the existing issue price for the demerged company’s warrants is stated at ₹16.58. The disclosure further notes that the company has issued 80,00,000 unlisted convertible share warrants at ₹16.58 each, which were outstanding as on June 30, 2026. These warrants are convertible into equity shares within 18 months, as per the company’s statement.

Preferential issue to promoters: loan conversion into equity

In a separate but related capital-structure update, Almondz Global Securities said it has secured in-principle approvals from BSE and NSE for a preferential allotment of 1,63,18,538 equity shares to its promoters. The approvals were granted under Regulation 28(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, according to the company. The proposed transaction involves converting an unsecured loan aggregating to ₹25,00,00,000 into equity. The company disclosed a minimum price of ₹15.32 per share for this conversion. Such steps are typically tracked for their implications on promoter holding, dilution, and balance-sheet positioning, but the disclosure focuses on the approvals and the mechanics rather than providing a forward outlook.

Board and shareholder actions already completed

The company also referenced the outcome of a postal ballot held on July 7, 2026. As per its disclosure, shareholders approved the appointment of Mrs. Neelu Jain as Independent Director and Mr. Rajeev Kumar as Director and Whole-Time Director. The stated approval was with a 99.83% majority. While this is separate from the demerger mechanics, it adds context on recent governance-related approvals that the company has already secured from shareholders.

Composite scheme filings: return and resubmission cycle

Beyond the infrastructure advisory demerger, Almondz Global Securities has been part of a broader restructuring conversation via a Composite Scheme of Arrangement. The disclosure states that a revised Composite Scheme of Arrangement filed with the stock exchanges had been returned by the Membership Department and was being re-submitted after being sent to the exchanges’ Legal Department for a no-objection process. The company’s earlier timeline indicates that the board initially approved a Composite Scheme of Arrangement on September 11, 2025. It also stated that the Membership Department returned the application on January 23, 2026, while specific reasons for the return were not disclosed in the filing. The company described this development as a setback because it effectively halted progress until remedial steps and resubmission.

What the broader group restructuring proposed earlier included

The disclosures also describe the earlier board-approved composite plan in which Almondz Global Securities’ broking business would be demerged into a separate entity, Almondz Broking Services Limited. Under that described structure, the demerger consideration was 1 equity share of Almondz Broking Services Limited for every 1 equity share held in Almondz Global Securities Limited. The same described composite plan also included amalgamating the remaining business (along with several other group companies, including Insolvency, Finanz, Developer, and Anemone) into Avonmore Capital & Management Services Limited. For the amalgamation leg, the stated share exchange ratio was 967 equity shares of Avonmore Capital for every 1,000 equity shares held in Almondz Global Securities Limited. Separately, the company also referenced that it had withdrawn a scheme of arrangement approved by the board earlier and planned to refile it within 90 days following comments from stock exchanges, as per the disclosure.

Snapshot table: ratios, approvals, and key dates

Why the disclosures matter for investors

Taken together, the announcements show Almondz Global Securities running multiple corporate actions in parallel: a focused demerger of the Infrastructure Advisory Business and a capital-structure move involving conversion of promoter loans into equity, alongside ongoing work on a broader composite arrangement. For shareholders, the most immediate factual markers are the entitlement ratios and the conditions attached to the demerger, including NCLT and statutory approvals. For market participants tracking the stock, the in-principle approvals from BSE and NSE for the preferential issue indicate the company has cleared an early regulatory checkpoint for the loan conversion proposal. The sequence around the composite scheme being returned and re-submitted highlights that exchange processes can affect timelines even after board approvals are in place. The company has not disclosed the reasons for the membership department’s return of the earlier application, which leaves the public record limited to procedural status.

What to watch next

The next steps, based on the company’s disclosures, depend on obtaining NCLT and other statutory approvals for the infrastructure advisory demerger. Investors may also look for further exchange communications on record dates, implementation schedules, and the listing process for Almondz Global Infra Consultant Limited once the demerger progresses. Separately, updates on the preferential allotment process and any further movement on the composite scheme resubmission will remain key milestones, as the company has indicated these processes are ongoing.