Please find attached outcome of Board Meeting for your reference.
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Awaiting price reaction for this filing.
Sancode Technologies' board has allotted 11,11,111 equity shares of Rs. 10 each at Rs. 54 per share (including Rs. 44 premium) upon conversion of equivalent warrants. Two allottees received shares: ZNL Startup Accelerator LLP (Promoter) got 4,44,444 shares for Rs. 2.4 crore, and North Star Opportunities Fund VCC (Non-Promoter) received 6,66,667 shares for Rs. 3.6 crore. Total capital raised is approximately Rs. 6 crore. The new shares will rank pari-passu with existing equity and will be listed on BSE.
This warrants-to-equity conversion will dilute existing shareholder stakes. The Rs. 54 issue price represents a potential reference for the company's valuation. Promoter holding increases through the ZNL allotment, while institutional capital infusion from North Star signals external investor confidence.