Intimation regarding Extra Ordinary General Meeting (EGM) to be held on 25th March, 2026
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Awaiting price reaction for this filing.
Sancode Technologies has called an EGM on 25th March 2026 to seek shareholder approval on five key items. First, the company plans to increase its authorized share capital from Rs. 6.5 crore to Rs. 10 crore, creating room for 35 lakh additional equity shares. Second, it proposes issuing up to 23,25,582 convertible warrants at Rs. 172 per warrant (aggregating up to ~Rs. 40 crore) on a preferential basis to promoter Khushboo Jain and two non-promoter entities (Aneka LLC and Trinity Gate LLC), with Aneka LLC set to become a promoter post-allotment. Third, shareholders will be asked to approve a material related party transaction with subsidiary Sancode Semi Private Limited worth up to Rs. 200 crore for FY 2026-27. Fourth and fifth, the company is seeking blanket board authorization under Sections 186 and 185 of the Companies Act to lend, invest, or give guarantees up to Rs. 450 crore to group companies and other entities. Remote e-voting runs from 22nd to 24th March 2026, with cut-off date 18th March 2026.
Existing shareholders will see dilution risk if all warrants are converted into equity shares at Rs. 172 per share. The preferential issue and large related party transaction limit (Rs. 200 crore) along with Rs. 450 crore lending authority could materially impact capital structure and related-party exposure. The stock may react to the Rs. 172 warrant issue price, which serves as a market reference for valuation.