The Board of the Directors of the Company in its meeting held today i.e., Wednesday, June 10, 2026, has inter-alia, considered and approved the following matters: Issuance of upto 55,00,000 ....
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SK Minerals & Additives' board, meeting on June 10, 2026, approved issuing up to 55,00,000 convertible warrants on a preferential basis at Rs. 397 per warrant (face value Rs. 10, premium Rs. 387), aiming to raise up to Rs. 218.35 crore. The warrants will be allotted to 85 investors, with 28 lakh warrants (Rs. 111.16 crore) going to the promoter and promoter group, and 27 lakh warrants (Rs. 107.19 crore) to non-promoter investors. Each warrant is convertible into one equity share within 18 months of allotment, with investors paying 25% upfront and the balance 75% at the time of conversion. An extraordinary general meeting is scheduled for July 9, 2026 to seek shareholder approval, and CRISIL Ratings has been appointed as monitoring agency for use of proceeds.
Full conversion would expand the share base to roughly 1.45 crore shares, lifting promoter holding to about 82% and diluting non-promoter stakes. Existing shareholders should track the EGM outcome on July 9 and whether the 25% upfront payment is received, as it will signal deal certainty.