Penny Stock Below Rs 10: Low PE, High ROCE Small-Cap NBFC Approves Rs 1.58 Crore Preferential Issue; Recommends Rs 0.15 Final Dividend

On Tuesday, Indian equity benchmark indices traded lower, with the Nifty 50 index declining 98.05 points, or 0.40 per cent, to 24,189.60. Amid the market movement, JMJ Fintech shares were trading at Rs 10.19, up 2.93 per cent. The company, a BSE-listed Non-Banking Financial Company, announced the outcome of its Board meeting held on August 18, 2026, approving a preferential issue, recommending a final Dividend and taking several corporate governance decisions.

JMJ Fintech Rs 1.58 Crore Preferential Issue Approved

JMJ Fintech's Board approved the issue of 7,90,000 equity shares of face value Rs 10 each at an issue price of Rs 20 per share, including a share premium of Rs 10 per share. The preferential issue, to be made on a private placement basis, will aggregate up to Rs 1.58 crore.

The company stated that the issue price of Rs 20 per share is above the minimum floor price of Rs 9.95 per share, determined by registered valuer CA S Dehaleesan under the applicable SEBI ICDR Regulations, with August 18, 2026, considered as the relevant date. The proposed issue remains subject to shareholder approval at the ensuing AGM, in-principle approval from BSE and other applicable regulatory approvals.

JMJ Fintech's 48 Proposed Allottees

According to the filing, the preferential issue will involve 48 proposed allottees, all categorised as individual non-promoters. The proposed allottees will collectively subscribe to 7.90 lakh equity shares for Rs 1.58 crore.
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Following the proposed allotment, the company's total outstanding equity shares are expected to increase from 3,76,45,548 to 3,84,35,548 shares. The promoter shareholding is expected to decline from 23.74 per cent to 23.25 per cent, while public shareholding is expected to increase from 76.26 per cent to 76.75 per cent.

Final Dividend of Rs 0.15 Per Share

The Board also recommended a final dividend of Rs 0.15 per equity share of face value Rs 10 each for FY26, subject to approval from shareholders at the company's 43rd Annual General Meeting. If approved, the dividend will be paid within 30 days from the date of the AGM.

The company has fixed September 10, 2026, as the record date for determining shareholders' entitlement to the final dividend and eligibility for remote e-voting. The register of members and share transfer books will remain closed from September 11 to September 17, 2026.

AGM Scheduled for September 17

JMJ Fintech's 43rd Annual General Meeting has been scheduled for September 17, 2026, at 11:30 AM through Video Conferencing or Other Audio Visual Means. The Board also approved the AGM notice, Board's Report and related annexures.

New Independent Director Appointed

The Board approved the appointment of CA Methil Rajalakshmy as an Additional Director in the capacity of Non-Executive Independent Director for an initial term of one year, effective August 18, 2026, subject to shareholder approval. She is a Fellow Member of the Institute of Chartered Accountants of India and has more than 27 years of professional experience, with expertise in corporate finance, financial audits, internal controls, risk assesSMEnt and Taxation.

The company has also reconstituted its Audit Committee, Nomination and Remuneration Committee and Stakeholders Relationship Committee, with CA Methil Rajalakshmy joining the respective committees.

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