Outcome of Board Meeting pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) (LODR) Regulations, 2015
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Sobhagya Mercantile Ltd's Board, at its meeting on 5 January 2026, approved issuing and allotting 26,49,500 Convertible Warrants to Non-Promoters on a preferential basis at Rs. 674.49 per warrant, aggregating to approximately Rs. 178.71 crores. Each warrant carries a face value of Rs. 10 and a premium of Rs. 664.49, and is convertible into one equity share within 18 months from allotment, with 25% of the issue price payable upfront. The warrants are proposed to be allotted to 5 non-promoter investors, including Old Compton Holdings Ltd, Amicorp Capital (Mauritius) Ltd, Legends Global Opportunities (Singapore) Pte Ltd, Venus Investments VCC-Venus Stellar Fund, and Dovetail India Fund-Class 22. The Board also approved the draft notice for an Extra Ordinary General Meeting (EGM) scheduled for 2 February 2026 to seek shareholder approval, with the cut-off date for e-voting eligibility set as 27 January 2026.
If approved by shareholders, this preferential warrant issue will raise approximately Rs. 178.71 crores in additional capital for the company but will also lead to potential dilution of existing equity upon conversion of warrants within 18 months. The stock may see short-term volatility around the EGM date and warrant pricing, while the entry of institutional/FPI investors signals external confidence in the company.