Outcome of the Board Meeting held today i.e. 01.01. 2026 for allotment of 73,95,000 Equity shares pursuant to Conversion of Fully Convertible Equity warrants.
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SC Agrotech's board, at its meeting on January 1, 2026, approved the allotment of 73,95,000 equity shares (face value Rs. 10 each) upon conversion of an equal number of fully convertible warrants. These warrants were originally issued on December 3, 2025 at Rs. 16 per warrant via preferential allotment to non-promoters. The allottees are Saize Enterprise Private Limited (37,05,000 shares) and Parmar Divyeshkumar Ramanbhai (36,90,000 shares). This represents conversion of only about 10.6% of the total 7,00,00,000 warrants issued, meaning more conversions may follow. Consequently, the paid-up equity capital has risen from Rs. 27.82 crore (2.78 crore shares) to Rs. 35.22 crore (3.52 crore shares), a ~26.6% increase.
Existing shareholders face equity dilution as the share count rises sharply, though the warrants were priced at a healthy 60% premium to face value. Further tranches of warrant conversions from the original 7 crore issue are likely, which could add to dilutionary pressure on the stock.