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The Board of Directors of Swojas Foods Ltd approved a preferential issue of up to 4.84 crore convertible equity warrants at ₹16.50 each to 11 non-promoter allottees, raising up to ₹79.99 crore (about ₹80 crore). Each warrant will convert into one equity share of ₹10 face value within 18 months, with 25% payable upfront and 75% on conversion. The two largest allottees are Softrak Venture Investment Ltd and Onelife Capital Advisors Ltd, each receiving 1 crore warrants (~12.59% post-issue holding each). The Board also approved unaudited standalone financial results for Q2 FY26 (quarter ended September 30, 2025): revenue from operations of ₹782.89 lakhs and net profit of ₹27.01 lakhs (EPS ₹0.12). For H1 FY26, revenue stood at ₹3,525.29 lakhs and net profit at ₹36.47 lakhs. The Board regularised two independent directors and re-designated one director from Independent to Non-Executive, Non-Independent. An Extra-Ordinary General Meeting (EGM) is scheduled for December 3, 2025 (at 12:30 PM via video conferencing), with November 26, 2025 fixed as the record date to determine member eligibility. E-voting will run from November 29 to December 2, 2025. The company's reserves remain negative at about ₹(2,397) lakhs as of September 30, 2025, highlighting why fund-raising is critical.
The ₹80 crore preferential warrant issue to non-promoters will lead to significant equity dilution for existing shareholders over the next 18 months once warrants are converted. Q2 FY26 results were largely flat year-on-year and sharply lower than Q1 FY26, with negative reserves signalling the need for capital infusion. Shareholders should note the EGM on December 3 is a key event, as the preferential issue requires shareholder approval.