Revised outcome of the Board Meeting held on Monday, June 01, 2026.
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The Board of SK Minerals & Additives approved two key items at its June 1, 2026 meeting. First, an increase in authorized share capital from Rs. 15 crore to Rs. 25 crore (1.5 crore to 2.5 crore equity shares of Rs. 10 each). Second, a preferential issue of up to 60 lakh convertible warrants at Rs. 370 per warrant (face value Rs. 10 plus premium of Rs. 360), aiming to raise up to Rs. 222 crore from 75 investors. Of the total, promoter and promoter group entities are taking up 32 lakh warrants worth Rs. 118.4 crore, while non-promoters are taking 28 lakh warrants worth Rs. 103.6 crore. Investors must pay 25% upfront with the remaining 75% due within 18 months upon converting warrants into equity shares. An Extraordinary General Meeting is scheduled for June 30, 2026 to seek shareholder approval.
The warrant issue, if fully converted, would significantly dilute existing minority shareholders, with the allottees' combined holding rising from 73.83% to 82.44% of the expanded equity base. However, strong promoter participation (over half the issue) signals management confidence in the business and provides Rs. 222 crore of growth capital, though only 25% (about Rs. 55.5 crore) is actually being received upfront.