Board approves proposal to issue up to 72,00,00,000 warrants to promoters on preferential basis
Board meeting held on 29th October 2026 approved a proposal to raise funds by issuing up to 72,00,00,000 (Seventy Two Crores) warrants.
By ScoutQuest · · 1 min read
- Warrants Approved
- up to 72,00,00,000 (Seventy Two Crores) warrants
- Conversion Terms
- Each warrant is convertible into 1 equity share of face value Re. 1/-
- Pricing Basis
- as per Regulation 164 of the SEBI ICDR Regulations
What the board approved
- The Board of Directors of the Company, at its meeting held on 29th October 2026, approved the proposal for raising of funds through issue and allotment of up to 72,00,00,000 (Seventy Two Crores) warrants.
- Each warrant is convertible into 1 equity share of face value Re. 1/-.
- The issue is on a preferential basis to Mr. Hemal Mehta and Mr. Sachin Mehta, Promoters of the Company.
- The issue is under Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
How the price is set
The price of the warrants is to be determined as per Regulation 164 of the SEBI ICDR Regulations, the pricing rule used for preferential issues.
What happens to the share count
- If all the warrants are converted, up to 72,00,00,000 new equity shares of face value Re. 1/- each would be issued to the two promoters.
- Because the shares go to a small set of allottees, existing shareholders would hold a smaller proportion of the company after conversion. This is the dilution effect typical of a preferential issue, and its size depends on the company's existing share capital.
What still has to happen
- The proposal is subject to approval of regulatory and statutory authorities.
- It also needs approval of the members of the Company at an Extraordinary General Meeting. The Board will be seeking shareholders' approval, and the EGM notice will be issued separately.
What to watch for
- The EGM notice, which would carry the price, the number of allottees and the timeline.
- Any decision on the use of the funds raised, and on lock-in or other conditions attached to the warrants, in the detailed papers that follow.
Also from Sudarshan Pharma Industries
Board approves raising up to Rs.72,00,00,000 via convertible warrants to promoters
30 Oct 2026
Consolidated results for the quarter ended Sept 30, 2026
29 Oct 2026
Board meet on 29 October 2026 to consider and approve Q2/H1 results and a fund-raising proposal
26 Oct 2026
More numbers
- Warrants approved to be issued72,00,00,000
- Equity shares each warrant converts into1
- Face value per equity shareRe. 1/-
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.