Allotment of 37,00,000 equity shares pursuant to conversion of Warrants into Equity
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SC Agrotech Ltd's Board of Directors approved the allotment of 37,00,000 equity shares (face value ₹10 each) to Shah Jaydeep Sureshkumar, a non-promoter allottee. These shares were issued upon conversion of 37 lakh fully convertible equity warrants at ₹16 per warrant, originally allotted on December 3, 2025, through a preferential issue out of 70 lakh warrants. As a result, the company's paid-up equity capital increased from ₹6.117 crore (6.117 crore shares) to ₹6.487 crore (6.487 crore shares), a dilution of about 6% in total share count. The Board meeting was held on January 20, 2026, and concluded within 30 minutes.
This is a routine warrant conversion that increases the share count and dilutes existing shareholders marginally. The ₹16 conversion price is above the ₹10 face value, meaning the company has already received the warrant exercise money, so no fresh cash inflow occurs from this conversion. Near-term stock impact is likely neutral, though further warrant conversions from the remaining balance could add to dilution.