The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Zeal Global Opportunities Fund
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Zeal Global Opportunities Fund, a Mauritius-based foreign fund, has been allotted 6,50,500 convertible warrants of Sobhagya Mercantile Ltd on a preferential basis on June 3, 2026. Each warrant has a face value of Rs. 10 with a premium of Rs. 664.49. The warrants represent 5.89% of the company's diluted share capital. The fund had no prior holding in the company and is not part of the promoter/promoter group. Upon full conversion of these warrants, the company's diluted equity share capital will increase from 97,48,500 shares to 1,10,49,500 shares. The total equity share capital currently remains at Rs. 9.75 crore (97,48,500 shares of Rs. 10 each).
A foreign fund acquiring a 5.89% stake via convertible warrants signals some institutional interest, but the current equity share capital is unchanged until warrants are exercised. Existing shareholders face potential dilution of about 13.3% on a fully diluted basis if and when these warrants are converted into equity shares.