Outcome of board meeting Held on September 03, 2025.
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The board of SC Agrotech Ltd, at its meeting on September 3, 2025, approved the issuance of 7,00,00,000 (7 crore) fully convertible warrants at Rs. 16 per warrant on a preferential basis, aggregating up to Rs. 112 crore, to 19 identified investors. Each warrant is convertible into one equity share of Rs. 10 face value within 18 months, with 25% of the price payable upfront and the balance 75% on conversion. The board also accepted the resignation of M/s Gulista & Associates as Secretarial Auditor for FY2024-25 (citing pre-occupation with other assignments) and appointed M/s SCS & Co. LLP as the new Secretarial Auditor for an initial term of 5 years.
The Rs. 112 crore preferential warrant issue would, upon full conversion, dilute existing shareholders significantly as 19 new investors will collectively end up holding roughly 96% of the expanded equity. Existing shareholders should brace for substantial equity dilution, while the new investors gain large strategic stakes in the company.