please find attached outcome of Board Meeting of Company.
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Sancode Technologies' board, at its meeting on 24 July 2025, approved increasing the company's authorised share capital from Rs. 4.5 crore to Rs. 6.5 crore by creating an additional 20 lakh equity shares of Rs. 10 each. It also approved issuing 11,11,111 convertible warrants at Rs. 54 per warrant (including Rs. 44 premium), raising up to roughly Rs. 6 crore on a preferential basis. The warrants will be allotted to two entities — promoter group ZNL Startup Accelerator LLP (4,44,444 warrants) and non-promoter North Star Opportunities Fund VCC-Lighthouse Capital (6,66,667 warrants). Allottees must pay 25% upfront and the remaining 75% on conversion, with each warrant convertible into 1 equity share within 18 months. An Extra Ordinary General Meeting (EGM) has been scheduled for 19 August 2025 to seek shareholder approval for both the capital increase and the warrant issue.
If approved and fully converted, the warrants will dilute existing shareholders by adding about 11.11 lakh new equity shares, while bringing in approximately Rs. 6 crore of fresh capital that could support the company's growth plans. Shareholders should watch the EGM outcome on 19 August and any subsequent conversion announcements.