P H Capital allots 10-for-1 bonus shares, sets up three subsidiaries for advisory, research and PMS

P H Capital Ltd has allotted 3,00,01,000 fully paid-up Bonus equity shares in the ratio of 10 shares for every one share held by eligible investors, while also approving the incorporation of three wholly owned subsidiaries for corporate advisory, research and portfolio management activities.

The board approved the allotment on October 8, 2026, following the October 7 record date. The bonus issue was funded by capitalising Rs 30,00,10,000 from free reserves. The new shares will rank pari passu with the existing equity shares.

Following the allotment, the company’s paid-up share capital has increased eleven-fold to Rs 33,00,11,000, comprising 3,30,01,100 equity shares of face value Rs 10 each. Earlier, the company had a paid-up capital of Rs 3,00,01,000 comprising 30,00,100 shares.

The issue had received shareholder approval through an ordinary resolution at the company’s 53rd annual general meeting on September 18. The board had originally approved the proposal on August 11, while BSE granted in-principle approval on September 29.

The bonus issue does not bring fresh funds into the company because it is an accounting transfer from free reserves to share capital. It therefore does not, by itself, alter P H Capital’s overall net worth, although it substantially increases the number of shares in circulation and changes the per-share capital structure.

More consequential for the company’s operating profile is the proposed creation of three subsidiaries, which would widen its activities beyond its existing business of trading in equity shares and derivative equity instruments.

AHB Advisors Private Ltd will provide corporate advisory and consultancy services. P H Capital intends to invest up to Rs 1 lakh in the entity in one or more tranches. StrategicAlpha Research Platforms Private Ltd will operate as a non-individual research analyst, with a proposed investment of up to Rs 15 lakh. It will need registration with the Securities and Exchange Board of India before beginning operations.

The third entity, Strategic Alpha Asset Management Private Ltd, will undertake discretionary and non-discretionary portfolio management, advisory and related investment management services. P H Capital proposes to subscribe up to Rs 7 crore in the subsidiary, subject to incorporation and SEBI registration as a portfolio manager.

Together, the proposed commitments amount to up to Rs 7.16 crore. The companies are expected to be incorporated within 45 days and will be fully owned by P H Capital. The consideration for the incorporations and investments will be paid in cash.

The expansion represents a shift from a relatively concentrated business model. In FY26, P H Capital reported revenue from operations of Rs 112.68 crore, down 39.3 per cent year-on-year, while profit after Tax declined 58.8 per cent to Rs 3.24 crore. The company had no subsidiaries, associates or joint ventures as of March 31, 2026.

The company ended FY26 with cash and cash equivalents of Rs 30.08 crore, current investments of Rs 18.64 crore and no borrowings. This provides balance-sheet capacity for the proposed subsidiary investments, though the research and portfolio management businesses will remain subject to regulatory approvals and execution.

Separately, the board appointed Shrusti Barlota as Company Secretary and Compliance Officer with effect from October 8. She is an Associate Member of the Institute of Company Secretaries of India.

As of 3:55 pm on October 8, 2026, P H Capital shares were trading at Rs 125.75, up 1.99 per cent from the previous close of Rs 123.30. The stock has gained 651.41 per cent over the past year, compared with a 4.54 per cent decline in the BSE 500 over the same period.

Disclaimer: The article is for informational purposes only and not investment advice.