Avasara Finance Ltd

AGM Details

• AGM on 22 Sep 2026 at 12:00 IST via VC/OAVM.
• Venue deemed at registered office.
• Cut-off date for voting eligibility: 15 September 2026.

Ordinary Business

• Adopt audited financial statements for FY 2025-26 and reports.
• Appoint Ford Rhodes Parks & Co LLP as Statutory Auditor for 3 years.

Director Changes

• Venkatraman Venkatachalam reappointed as non-independent non-executive director; term to 2029.

Auditor Appointments

• Statutory Auditor Ford Rhodes Parks & Co LLP appointed for 3 years; remuneration Rs 95,000 per annum.

Special Business

• Secretarial Auditor Priti J Sheth & Associates appointed for 5 years (2026-27 to 2030-31).
• Fees to be finalised; board may increase remuneration by 5-10% annually.

Issue Overview

• Rights issue of Equity Shares; total size ₹10 crore; fully subscribed.
• Objects: augment long-term capital for lending, invest in advisory business, general corporate purpose, and issue expenses.
• No revision or undersubscription observed; proceeds align with offer document.
• Type and securities: Rights issue of Equity shares.

Utilisation of Proceeds

• Utilisation is as disclosed; no material deviations from the offer document.
• LT capital: 0.00 utilised; 6.30 unutilised.
• Investment advisory: 0.00 utilised; 1.00 unutilised.
• General corporate purpose: 1.38 utilised; 1.04 unutilised.
• Issue expenses: 0.28 utilised; 0.00 unutilised.
• Unutilised proceeds ₹8.34 crore parked in Axis Liquid Funds and a monitoring account.
• GCP utilisation: 1.38 crore as of 30 June 2026; includes working capital, tech, and compliance.

Governance and Compliance

• All statutory approvals for the objects have been obtained.
• No material adverse events or viability issues reported.
• Monitoring agency confirms no conflict of interest; report relies on issuer data and documents.
• CA certificate and company statement verify utilisation and provide data as of quarter end.

General Corporate Purpose (GCP)

• GCP utilised 1.38 crore as of 30 June 2026.
• Primary uses: working capital, technology platforms, internal operations and compliance.

Cessations

• Eugene Oommen Koshy — Resigned as Non-Executive Director, effective 10 Aug 2026; personal/professional commitments; board/committee vacancies.
• Madhavi Khandavalli — Resigned as CS & CO, effective 12 Aug 2026; retirement; appointed 14 Feb 2025.

Financial highlights

• Quarter ended 30 Jun 2026: Revenue from operations ₹16.03L, other income ₹10.33L, total ₹26.36L.
• Profit for quarter ₹5.59L; EPS ₹0.04 (basic and diluted).
• Board approved unaudited standalone results; limited review by statutory auditors.
• Accumulated losses ₹514.18L as of 30 Jun 2026; net worth eroded.
• Auditors' report: unmodified opinion; no material misstatement.
• Total assets ₹1,095.86L; equity ₹(514.18)L; net-worth deficit.

Balance sheet snapshot

• Cash and cash equivalents ₹20.32L; investments ₹855.85L; trade receivables ₹107.88L.
• Borrowings ₹99.43L; other financial liabilities ₹5.65L.
• Equity share capital ₹1,500.27L; Other Equity ₹(514.18)L.

Key approvals and changes

• Unaudited Q1 FY2026 financial results for quarter ended 30 June 2026, with Limited Review Report.
• Acquisition of BYLD Wealth Advisory Private Limited approved.
• Resignation of Mr. Eugene Oommen Koshy as Non-Executive Non-Independent Director.
• Resignation of Ms. Madhavi Khandavalli as Company Secretary and Compliance Officer.

Meeting Details

• Date and time: August 12, 2026 at 02:30 P.M. IST.
• Location: via video conference; 5th Floor, Prestige Sigma, No. 3 Vittal Mallaya Road, Bangalore.

Key Agenda Items

• Un-audited financial results for the quarter ended June 30, 2026 to be considered.
• Acquisition of BYLD Wealth Advisory Private Limited to be considered.

Other Notes

• Trading window remains closed for designated persons from July 1, 2026; reopen 48 hours after results declaration.

Dematerialisation processing and listing

• Dematerialisation requests processed and confirmed to depositories.
• Securities dematerialised listed on exchanges where existing securities are listed.
• Physical certificates were mutilated and cancelled; depository owner updated within timelines.