Senores Pharmaceuticals Limited has informed the Exchange regarding Outcome of Board Meeting held on March 28, 2026.
SENORES · price
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Senores Pharmaceuticals' board approved the allotment of 11,70,000 convertible warrants at ₹812 per warrant on a preferential basis, aggregating to about ₹95 crore. All warrants were issued to the promoter and promoter group — Renosen Pharmaceuticals Private Limited received the largest chunk at 7,39,000 warrants, followed by Swapnil Jatin Shah (1,97,000) and Ashokbhai Vijaysinh Barot (1,23,000). Allottees paid 25% upfront (₹203 per warrant, around ₹23.75 crore) and must pay the remaining ₹609 per warrant upon exercising conversion within 18 months. Upon full conversion, the promoter group's combined stake will rise from 23.36% to 25.26%, deepening promoter control and commitment. The warrants carry a face value of ₹10 per underlying share, meaning the issue price includes a premium of ₹802 per warrant.
This is a promoter-driven capital infusion, signaling strong insider confidence in the company's growth. Shareholders should note potential dilution once warrants are converted, and watch the stock price relative to the ₹812 exercise price to gauge how attractive conversion will be for the promoters.