Leading Leasing Finance AGM clears ₹164 cr capital hike

What shareholders approved at the 42nd AGM

Leading Leasing Finance and Investment Company Limited (BSE: 540360) closed its 42nd Annual General Meeting (AGM) on September 26, 2026 with approvals that expand the company’s capital structure. Shareholders adopted resolutions covering an increase in authorised share capital and the creation of new securities through preferential allotments. The agenda also included routine annual items such as the adoption of audited financial statements for FY26.

The meeting was held at the company’s registered office in Andheri West, Mumbai, and was chaired by Managing Director Ketankumar Shivabhai Gosai. Alongside the capital-related matters, shareholders also approved the re-appointment of Gosai as Managing Director, noting that he retired by rotation and offered himself for re-election. The set of approvals, taken together, indicate a formal green light for a larger equity base and potential conversion-linked issuance.

Authorized share capital raised from ₹60 crore to ₹164 crore

One of the key decisions was the approval to increase the company’s authorised share capital from ₹60 crore to ₹164 crore. The agenda described the increase as being implemented by creating 104 crore additional equity shares of ₹1 face value each.

This step increases the ceiling of share capital that the company is permitted to issue under its charter. While an increase in authorised capital does not itself dilute shareholders, it provides the enabling capacity for future issuance, including the preferential allotments approved at the same AGM.

Preferential equity issue to convert outstanding unsecured loans

Shareholders also approved a special resolution for issuance of up to 35,71,42,856 equity shares on a preferential basis to non-promoter categories. The stated purpose is the conversion of outstanding unsecured loans.

In the company’s disclosures around the capital restructuring, the board had approved issuance of 35.71 crore equity shares at a price of ₹1.40 each for this conversion. The AGM approval clears the shareholder authorisation required for a preferential route, subject to the company’s stated terms and applicable regulations.

Preferential issue of 70,93,57,119 convertible warrants

A second special resolution approved the issuance of 70,93,57,119 convertible warrants on a preferential basis. Company disclosures referenced the pricing for these warrants at ₹1.40 each.

Convertible warrants, by design, may result in equity shares upon conversion in accordance with the terms of issue. The approvals at the AGM therefore expand the company’s ability to raise funds or restructure liabilities via instrument issuance, while placing the authorisation within shareholder-approved limits.

How voting was conducted: remote e-voting and ballot at the venue

The voting process combined remote e-voting and voting during the physical meeting. Remote e-voting was provided between September 23, 2026 and September 25, 2026. The company also facilitated ballot voting at the AGM venue on September 26, 2026.

The company indicated that final results of the voting are scheduled to be published on the websites of BSE Limited and Metropolitan Stock Exchange of India Limited within two working days from the conclusion of the AGM.

Record dates, cut-off dates, and book closure window

Ahead of the AGM, the company announced the schedule for shareholder eligibility and register closures. The cut-off date for voting entitlement was fixed as Saturday, September 19, 2026.

The company also announced book closure dates for the meeting, stating that the register of members and share transfer books would remain closed from Sunday, September 20, 2026 to Saturday, September 26, 2026. This timeline aligned with the meeting date and the participation and voting framework communicated under Section 108 of the Companies Act, 2013 and Regulation 44 of SEBI (LODR) Regulations, 2015.

Board meeting context: August 27, 2026 approvals

Before the AGM, the board met on August 27, 2026 with an agenda that included a preferential issue of shares. Disclosures from that meeting referenced the board’s approval to increase authorised share capital to ₹164 crore.

The same disclosures also referenced the preferential issuances: 35.71 crore equity shares at ₹1.40 each for conversion of existing unsecured loans, and 70.93 crore convertible warrants at ₹1.40 each. The AGM approvals completed the shareholder approval leg for these proposals.

Summary table: key AGM facts and resolutions

Market impact: what changes and what does not

The AGM outcomes primarily change the company’s capital authorisations and potential issuance pipeline. The authorised capital increase expands the permissible headroom for issuing equity, but it does not by itself issue new shares. The preferential equity issuance and warrant issuance approvals, however, represent shareholder clearance for instruments that can translate into share issuance as per the terms and applicable process.

For investors tracking the NBFC and finance segment, the key immediate takeaway is the scale of the proposed issuance, the preferential route, and the stated use case of converting outstanding unsecured loans for the equity issue portion. The company also anchored these actions within disclosed timelines and voting procedures, including the remote e-voting window and the commitment to publish final voting results within the stated period.

Why the AGM decisions matter

The set of resolutions indicates a coordinated approach to capital restructuring: (1) increase the authorised capital ceiling, and (2) approve specific preferential issuances. This sequencing matters because a higher authorised capital is often necessary to legally enable new equity or equity-linked securities.

The disclosure that the equity issue is tied to conversion of outstanding unsecured loans provides a clear linkage to the company’s liability structure, while the warrant issuance adds another equity-linked funding instrument subject to conversion terms. From a governance standpoint, the company also followed a framework combining remote e-voting and venue voting, and outlined its reporting of results on exchange websites.

Conclusion

Leading Leasing Finance’s 42nd AGM on September 26, 2026 approved a significant expansion in authorised share capital to ₹164 crore and cleared preferential issuances of equity shares and convertible warrants. The meeting also adopted FY26 audited financial statements and re-appointed Managing Director Ketankumar Shivabhai Gosai. The company has said the final voting results will be published on BSE and MSEI websites within two working days of the AGM’s conclusion.