Allotment of 7,00,00,000 (Seven Crore) Fully Convertible Equity Warrants convertible into Equity Shares to 19 allottees.
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SC Agrotech has allotted 7,00,00,000 (7 crore) fully convertible equity warrants to 19 non-promoter allottees at Rs. 16 per warrant (Rs. 10 face value + Rs. 6 premium), on a preferential basis. Total potential issue size is Rs. 112 crore, of which 25% (Rs. 28 crore) has already been received upfront. Each warrant is convertible into one equity share of Rs. 10 face value within 18 months, with the remaining 75% payable at the time of conversion. None of the allottees currently hold shares in the company, and each would end up with roughly 4.5%–4.9% post-issue shareholding if all warrants are fully converted. The company clarified that paid-up share capital remains unchanged at present since only warrants (not equity shares) have been issued.
This is a significant dilution event — up to 7 crore new shares could eventually be created, potentially expanding the equity base substantially. Until warrants are actually exercised, there is no immediate impact on share count, but shareholders should expect future dilution and possible price pressure if conversions happen. The warrants were issued at a premium of Rs. 6, which is a positive signal relative to face value.