Outcome of circular Resolution passed by the Board of Directors of the Company through circulation on 25.02.2026
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The Board of Directors of 7Seas Entertainment Ltd, via circular resolution dated February 25, 2026, approved two preferential allotments. First, 13,75,000 convertible warrants were allotted at ₹80 each, aggregating to ₹11 crore, to promoter and non-promoter allottees; the company has received 25% upfront (₹20 per warrant, totalling ₹2.75 crore), with the balance payable on conversion. Second, 7,90,000 equity shares of ₹10 face value were allotted at ₹80 each (including a ₹70 premium) to promoter and non-promoter allottees, aggregating to roughly ₹6.32 crore. Both allotments were backed by BSE's in-principle approval dated February 11, 2026.
Existing shareholders face dilution from the preferential issuance, though promoter participation is typically viewed as a confidence signal. The combined fund raise of about ₹17.32 crore (potential, if warrants are fully exercised) strengthens the company's capital base, while the warrant conversion over time could add further equity dilution.