  We explore the possibility of explaining the observed dark matter (DM) relic
abundance, along with matter-antimatter asymmetry, entirely from the
evaporation of primordial black holes (PBH), beyond the semi-classical
approximation. We find that, depending on the timing of modification to the
semi-classical approximation and the efficiency of the backreaction, it is
possible to produce the correct DM abundance for PBHs with masses
$\gtrsim\mathcal{O}(10^3)$ g, whereas producing the right amount of baryon
asymmetry requires light PBHs with masses $\lesssim\mathcal{O}(10^2)$ g,
satisfying bounds on the PBH mass from the Cosmic Microwave Background and Big
Bang Nucleosynthesis. However, in a simplistic scenario, achieving both {\it
simultaneously} is not feasible, typically because of the stringent
Lyman-$\alpha$ constraint on warm dark matter mass. We also demonstrate how
induced gravitational waves from PBH density fluctuations can provide a window
to test the memory-burden effects, thereby placing constraints on either the DM
mass scale or the scale of leptogenesis.
