Firstcall India Equity Advisors lowers First Fintec stake to 39.4%

Firstcall India Equity Advisors Pvt. Ltd, a promoter-group entity, sold 8,32,221 voting shares in First Fintec Limited through an off-market transaction on October 30, 2026. The disclosed sale reduced Firstcall India Equity Advisors' holding from 49,31,374 shares, or 47.40%, to 40,99,153 shares, or 39.40%, a decline of 8 percentage points.

What did Firstcall India Equity Advisors sell?

Firstcall India Equity Advisors sold 8,32,221 First Fintec shares carrying voting rights on October 30, 2026. The Regulation 29(2) disclosure identifies Firstcall India Equity Advisors as part of the promoter or promoter group and records the transaction as an off-market sale.

The disposal represented 8.00% of First Fintec's total share or voting capital and 8.00% of its total diluted share or voting capital. The filing does not disclose a sale price, transaction value or buyer identity, so it establishes the quantity sold and the ownership change but not the consideration received.

The share-count movement matches the reported disposal: 49,31,374 pre-sale shares less 8,32,221 sold shares equals the post-sale holding of 40,99,153 shares. On the percentage basis used in the disclosure, the 8.00% sale reduced Firstcall India Equity Advisors' reported stake by 8 percentage points from 47.40% to 39.40%.

How did Firstcall India Equity Advisors' holding change?

Firstcall India Equity Advisors' voting holding fell to 39.40% from 47.40% on October 30, 2026. Its reported holding declined by 8,32,221 shares, from 49,31,374 shares before the sale to 40,99,153 shares after it.

Before the transaction, Firstcall India Equity Advisors held 47.40% under both the total share or voting-capital measure and the total diluted share or voting-capital measure. The post-sale figure was likewise 39.40% under both measures, meaning the filing reports no difference between these ownership calculations for this transaction.

The disclosure records no encumbered shares, such as pledged shares, liens or non-disposal undertakings, before or after the October 30 sale. It also reports no voting rights held other than through shares and no warrants, convertible securities or other instruments that could entitle Firstcall India Equity Advisors to additional First Fintec voting shares.

The 39.40% figure applies specifically to Firstcall India Equity Advisors' disclosed holding of 40,99,153 shares. The filing identifies it as a promoter-group entity but does not provide an aggregate holding for all promoter-group entities, so no combined promoter-group ownership percentage is stated.

Was the First Fintec sale conducted off-market?

The First Fintec sale was conducted off-market, according to the mode-of-sale field in the Regulation 29(2) form. Both the company communication and Firstcall India Equity Advisors' disclosure describe the October 30, 2026 disposal of 8,32,221 shares as an off-market sale.

The form lists off-market sale among modes that also include open-market transactions, public issues, rights issues, preferential allotments and inter-se transfers. It does not name the purchaser of the 8,32,221 shares or state whether the buyer had any connection with Firstcall India Equity Advisors, First Fintec or the promoter group.

First Fintec's letter to Bombay Stock Exchange Limited, dated October 30, 2026, says the disclosures were submitted under Regulation 29(2) of the Securities and Exchange Board of India, or SEBI, Substantial Acquisition of Shares and Takeovers Regulations, 2011. It also refers to Form C under the SEBI Prohibition of Insider Trading Regulations, 2015.

The disclosure names Bombay Stock Exchange Limited as the exchange on which First Fintec shares are listed and gives the company's scrip code as 532379. The reporting date, transaction date and place shown in the form are October 30, 2026 and Mumbai, respectively.

What does the filing show about First Fintec's share capital?

First Fintec reported equity share capital and total voting capital of 1,04,02,755 equity shares before and after the October 30, 2026 sale. Each share had a face value of Rs 10, and the filing also reports 1,04,02,755 shares as its total diluted share or voting capital after the transaction.

The unchanged 1,04,02,755-share capital figure distinguishes this ownership transfer from a reported issue or cancellation of shares. Firstcall India Equity Advisors' percentage changed because it transferred 8,32,221 existing shares, while the disclosed total voting-capital base remained the same before and after the sale.

The filing's notes define diluted share or voting capital as the total shares that would result from full conversion of outstanding convertible securities or warrants. Yet the disclosed 39.40% post-sale holding is identical on the total and diluted bases, and the form reports no warrants or convertible instruments held by Firstcall India Equity Advisors.

First Fintec's prior holding base of 49,31,374 shares represented 47.40% of the disclosed 1,04,02,755 shares, while the post-sale 40,99,153 shares represented 39.40%. The reported 8.00% reduction is therefore measured against the same stated capital base on both sides of the transaction.

Conclusion

Firstcall India Equity Advisors' off-market disposal reduced its disclosed First Fintec voting holding by 8,32,221 shares and 8 percentage points to 40,99,153 shares, or 39.40%. The filing shows an unchanged capital base of 1,04,02,755 shares, with no disclosed encumbrances, non-share voting rights, warrants or convertible securities held by the seller.

What to watch next is any subsequent disclosure on Firstcall India Equity Advisors' 39.40% holding, as the October 30, 2026 filing does not disclose a further sale plan, ownership target, buyer or consideration. It also provides no scheduled corporate event beyond the completed off-market transaction.