SSShree Salasar Investments503635Preferential allotment

Board approves allotment of 18.5 lakh convertible warrants on preferential basis at Rs.175 each

Board of Directors approved allotment of 18.5 lakh convertible warrants on a preferential basis at its meeting on October 21, 2026.

By ScoutQuest · Wed 21 Oct 2026, 8:10 PM IST · 2 min read

Warrants Approved

18,50,000 convertible warrants, each convertible into 1 equity share of face value Rs.10

Issue Price / Size

Rs.175 per warrant; total size ~Rs. 32.38 crore

Payment Terms & Allottees

Balance 75% of issue price payable within 18 months; 4 allottees (promoter group and identified non-promoters)

What was approved

The Board of Directors, at its meeting on October 21, 2026, approved the allotment of 18.5 lakh convertible warrants on a preferential basis to persons belonging to the Promoter category and to certain identified non-promoters.

• Number of warrants: 18,50,000, each convertible into one equity share of face value Rs.10
• Issue price: Rs.175 per warrant
• Total issue size: ~Rs. 32.38 crore
• Number of allottees: 4
• Conversion window: 18 months from the date of allotment
• Balance payable on conversion: 75% of the issue price (25% paid upfront, as the update states the remaining 75% is due within 18 months)

The company has already received in-principle approval for the issue from BSE Limited.

Who gets the warrants

• Ajay Dilkush Sarupria: 9,00,000 warrants; holding moves from 23,38,779 to 32,38,779 shares (36.71%)
• Shailesh Ginsulal Hingarh: 9,00,000 warrants; holding moves from 23,40,778 to 32,40,778 shares (36.74%)
• Harshad Sobhagchand Dholakia: 25,000 warrants; holding moves from 7,500 to 32,500 shares (0.37%)
• Seeta Harshad Dholakia: 25,000 warrants; holding moves from 7,500 to 32,500 shares (0.37%)
• Total post-issue shareholding, assuming full conversion of all warrants: 65,44,557 equity shares

All percentages above are stated in the update on the assumption of full conversion of all the warrants.

What it means for the share count

The warrants themselves do not change the paid-up equity share capital right now. The dilution, if any, happens only when the warrants are converted into shares.

• On full conversion, 18.5 lakh new equity shares would be allotted
• These shares will rank pari passu with the existing equity shares in all respects
• The conversion is not automatic on the company's side; it is subject to the allottees exercising their right to convert and paying the balance 75% of the issue price

Points a retail investor may want to track

• Whether the balance payment and conversion happen, and when, within the 18-month window
• The change in the total number of equity shares once conversion takes place
• That the allotment is to promoter-group persons and identified non-promoters on a preferential basis, with 2 of the 4 allottees holding around 36.7% each on a fully converted basis

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

About ScoutQuest · Logos provided by Logo.dev