Outcome of Board Meeting pursuant to Regulation 30 of SEBI LODR Regulations, 2015
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Sobhagya Mercantile Ltd's board, at its meeting on 27th March 2026, approved the allotment of 10,48,500 equity shares of face value Rs. 10 each at a premium of Rs. 664.49, to two non-promoter entities — Legends Global Opportunities (Singapore) Pte. Ltd and Venus Investments (VCC-Venus Stellar Fund). These shares were issued on conversion of convertible warrants that were originally allotted on a preferential basis on 11th March 2026. The company received Rs. 53.04 crore from this conversion at an issue price of Rs. 674.49 per share. As a result, the paid-up equity share capital increased from Rs. 8.70 crore (87 lakh shares) to Rs. 9.75 crore (97.48 lakh shares). The conversion was backed by an EGM approval on 2nd February 2026 and BSE's in-principle approval received on 24th February 2026.
Existing shareholders face a dilution of about 12% in their shareholding due to the fresh share issuance, but the company has strengthened its capital base with an inflow of Rs. 53.04 crore, which may be deployed for business expansion or debt reduction. The fact that the warrants have converted (rather than lapsed) signals continued investor confidence from the non-promoter allottees.