Revised outcome of Board Meeting held on Monday, June 01, 2026
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The Board of SK Minerals & Additives Ltd approved increasing the authorized share capital from Rs. 15 crore to Rs. 25 crore (1.5 crore to 2.5 crore equity shares of Rs. 10 each), subject to shareholder approval. The Board also approved issuing up to 60 lakh convertible warrants at Rs. 370 per warrant (Rs. 10 face value + Rs. 360 premium), raising up to Rs. 222 crore on a preferential basis to 75 allottees. Of these, 32 lakh warrants (Rs. 118.4 crore) are earmarked for the promoter and promoter group, while 28 lakh warrants (Rs. 103.6 crore) go to 66 non-promoter investors. Each warrant is convertible into one equity share within 18 months, with 25% payable upfront and 75% at conversion. An EGM is scheduled for June 30, 2026 to seek member approval.
This is a significant equity dilution event — if all warrants are converted, the share count would rise by roughly 49% (from about 1.22 crore to 1.82 crore shares), with promoter Sunita Rani's stake diluting from 51.14% to 39.80%. The Rs. 222 crore raise will strengthen the company's balance sheet but existing shareholders will face meaningful dilution and the preferential allotment price of Rs. 370 will serve as a near-term reference for the stock.