Outcome of Board Meeting for proposed issue of warrants was approved
Price
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On the reaction day the stock moved 5.5 pts more than Nifty Microcap 250 and 5.0 pts more than its Other Financial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The board of Shree Salasar Investments approved unaudited financial results for Q3FY26 and a preferential issue of up to 18,50,000 warrants (face value Rs 10 each) convertible into equity shares, in one or more tranches, subject to shareholder approval. Warrants are priced as per the SEBI ICDR minimum price rule and are exercisable within 18 months from allotment. Of the 18.5 lakh warrants, 9 lakh each are allotted to promoters Ajay Sarupria and Shailesh Hingarh, while 25,000 each go to public allottees Harshad Dholakia and Seeta Dholakia. On a fully diluted basis, promoter holding rises to about 73.45% from about 67.12%. Standalone Q3FY26 swung to a loss of Rs 19.98 lakhs (vs profit of Rs 20.55 lakhs YoY) on revenue of negative Rs 18.48 lakhs, but consolidated profit after tax was Rs 535.70 lakhs on revenue of Rs 3,101.39 lakhs.
Existing minority shareholders face dilution of roughly 26-27% on a fully diluted basis as promoters consolidate control. The warrant price will be set as the SEBI floor price, so it can act as a near-term overhang; the standalone loss in Q3 is a negative signal, though consolidated earnings remain strong on the back of subsidiaries.