Outcome for Board Meeting Held on Today I.E., March 18, 2026
Awaiting price reaction for this filing.
Sarda Proteins Ltd has converted 72,50,000 convertible warrants into an equal number of equity shares of Rs. 10 face value each, following a board meeting on March 18, 2026. The warrants were originally allotted on April 8, 2025 at Rs. 115 per warrant (Rs. 10 face value + Rs. 105 premium). Allottees paid the remaining 75% of the issue price, totalling Rs. 62.53 crore. The company's paid-up equity capital has now increased to Rs. 8.97 crore, consisting of 89,75,900 equity shares. Seven allottees participated, with Onix Renewable Limited receiving the bulk at 70 lakh shares, while six other individuals received smaller allotments. The new shares will rank equally with existing shares.
Shareholders should note a dilution of roughly 80% as the share count rises from about 17.26 lakh to 89.76 lakh shares. Since warrants were already issued at a premium of Rs. 105, the dilution impact was largely anticipated, and the inflow of Rs. 62.53 crore strengthens the company's capital base.