Outcome of Board Meeting held on 26th February, 2026 for issuance of Warrants and approval of notice to convene Extra-Ordinary General Meeting of the Company for obtaining shareholder''s approval
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The board of Shree Salasar Investments, held 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 must be exercised within 18 months of allotment. Of the total, 18,00,000 warrants (about 97%) are earmarked for the two promoters — Ajay Sarupria and Shailesh Hingarh — with 9,00,000 each, while 25,000 each go to non-promoters Harshad Dholakia and Seeta Dholakia. Post-issue, the combined promoter holding rises from roughly 67% to about 73.45%, and the non-promoter allottees see their stakes rise from 0.11% to 0.37%. The board also cleared the notice for an Extra-Ordinary General Meeting to seek shareholder approval for the issuance.
Existing non-promoter shareholders will face dilution once the warrants are converted, and promoters are consolidating control by subscribing to the bulk of the issue, which signals promoter confidence but reduces public float. The move is subject to shareholder approval at the upcoming EGM, so the actual share count increase is not yet final.