Firstcall India Equity Advisors cuts First Fintec stake to 23.4%

Firstcall India Equity Advisors Pvt. Ltd sold 832,220 shares of First Fintec Limited in an off-market transaction on October 30, 2026, reducing its voting holding from 31.40% to 23.40%. The sale represented 8.00% of First Fintec’s 10,402,755 equity shares, whose reported capital base was unchanged by the transaction.

How many First Fintec shares did Firstcall India Equity Advisors sell?

Firstcall India Equity Advisors sold 832,220 First Fintec shares carrying voting rights on October 30, 2026. The disclosed block represented 8.00% of First Fintec’s total share capital and total voting capital, and the Regulation 29(2) form recorded the mode as an off-market sale.

Firstcall India Equity Advisors was identified as belonging to First Fintec’s promoter or promoter group. The disclosure was submitted under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, while the covering communication also referred to Form C under the SEBI (Prohibition of Insider Trading) Regulations, 2015.

The filing records a disposal of voting shares only. It lists no voting rights held separately from shares, and it marks warrants, convertible securities and other instruments that could entitle Firstcall India Equity Advisors to voting shares as not applicable for the 8.00% transaction.

First Fintec’s communication and the disclosure are both dated October 30, 2026. The documents were addressed to Bombay Stock Exchange Limited, which the form identifies as the exchange where First Fintec is listed, under scrip code 532379.

How did Firstcall India Equity Advisors’ First Fintec holding change?

Firstcall India Equity Advisors’ holding fell by 832,220 shares and 8.00 percentage points to 2,434,713 shares, or 23.40%, after the sale. Before the October 30, 2026 disposal, it held 3,266,933 First Fintec shares representing 31.40% of total share and voting capital.

The percentages before and after the sale were the same against total diluted share and voting capital: 31.40% before and 23.40% after. The form defines diluted share and voting capital as the total shares assuming full conversion of outstanding convertible securities or warrants into equity shares.

The reported change reflects the transfer of the 832,220-share block rather than a revised capital denominator. First Fintec reported 10,402,755 equity shares before and after the sale, so the 8.00 percentage-point reduction matched the stated proportion of shares disposed of.

Did First Fintec’s share capital change after the sale?

No, First Fintec reported 10,402,755 equity shares as its equity share capital, total voting capital and total diluted share and voting capital both before and after October 30, 2026. The disclosure states that each equity share has a face value of Rs 10.

The unchanged 10,402,755-share base is consistent with the reported off-market mode, which concerns a transfer of existing shares. The form lists open market, off market, public issue, rights issue, preferential allotment and inter-se transfer as possible modes, while the disclosed transaction is marked off market.

Firstcall India Equity Advisors’ post-sale holding of 2,434,713 shares was therefore calculated against the same share base as its pre-sale 3,266,933-share holding. First Fintec did not report an allotment, rights issue or preferential issue in connection with the 832,220-share disposal.

The form also records no encumbrance against Firstcall India Equity Advisors’ holding before or after the transaction. Pledges, liens, non-disposal undertakings and other encumbrances were marked not applicable, as were voting rights held otherwise than through shares.

What terms does the off-market disclosure provide?

The disclosure provides the share quantity, sale date, ownership percentages and off-market classification, but does not state a sale price, transaction value or buyer for the 832,220 shares. It therefore does not provide a basis to calculate cash proceeds from the October 30, 2026 sale.

The reported mode is off market rather than open market. Although the prescribed form includes several transaction categories, Firstcall India Equity Advisors’ entry specifically identifies the disposal as an off-market sale of shares carrying voting rights.

The form places Firstcall India Equity Advisors in the field for the acquirer and persons acting in concert, despite the entry being a sale. Separately, it confirms its promoter or promoter-group status and identifies First Fintec as the target company for the 8.00% disposal.

No warrants, convertible securities or other voting-share entitlement instruments were reported before or after the transaction. On the disclosed data, Firstcall India Equity Advisors’ 23.40% post-sale total consists of its 2,434,713 shares carrying voting rights.

Why was Firstcall India Equity Advisors required to make this disclosure?

Firstcall India Equity Advisors made the filing under Regulation 29(2) to report its October 30, 2026 sale of 832,220 voting shares in First Fintec. The accompanying correspondence also cites Form C under the SEBI insider-trading regulations for the same off-market transaction.

The Regulation 29(2) form sets out ownership immediately before the transaction, the quantity and percentage sold, and ownership after it. For Firstcall India Equity Advisors, those entries show a movement from 3,266,933 shares and 31.40% to 2,434,713 shares and 23.40%.

The form states that total share capital and voting capital should be based on the latest company filing to the stock exchange under Clause 35 of the listing agreement. For this filing, First Fintec’s relevant capital base was 10,402,755 equity shares before and after the disposal.

The documents were issued from Mumbai and dated October 30, 2026. First Fintec’s covering letter says the filing concerns an off-market sale by a promoter-group entity, while the disclosure identifies the same sale as 8.00% of the company’s voting capital.

Conclusion

Firstcall India Equity Advisors’ disclosed disposal reduced its First Fintec voting stake from 31.40% to 23.40%, through the sale of 832,220 shares on October 30, 2026. Because First Fintec reported the same 10,402,755 equity shares before and after the transaction, the filing shows a change in ownership rather than a change in share capital.

The disclosure identifies no future sale plan, ownership target or scheduled corporate event after the October 30, 2026 transaction. It also leaves the buyer, sale price and transaction value of the 832,220 shares undisclosed.