Board of Directors of the Company at its meeting has inter alia Considered and approved 1. Issue of warrants convertible into Equity Shares and 2. Notice to convene Extra Ordinary General ....
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The board of Shree Salasar Investments Ltd, at its meeting on February 26, 2026, approved a preferential issue of up to 18,50,000 warrants convertible into equity shares at Rs. 175 per warrant (face value Rs. 10). The warrants are proposed to be allotted to 4 allottees — 2 promoters (Ajay Sarupria and Shailesh Hingarh, each getting 9,00,000 warrants) and 2 non-promoters (Harshad Dholakia and Seeta Dholakia, each getting 25,000 warrants). Each warrant can be converted into 1 equity share within 18 months of allotment. The company has also approved a notice to convene an Extraordinary General Meeting (EGM) to seek shareholder approval for the issue. Post-issue, the two promoters' combined holding will rise from about 67% to roughly 73.5% of the expanded share capital.
This is a promoter-led fundraise that will dilute existing shareholders by around 16% and significantly increase promoter control. Existing minority investors should watch the EGM outcome and the final issue price, as preferential allotments to promoters at a fixed price typically exert short-term downward pressure on the stock.