Corporate Action3 Jun 2026, 04:02 pm
Sobhagya Mercantile Approves 1.3 Cr Warrants for ₹87.7 Cr
AI Summary
Sobhagya Mercantile Ltd's Board of Directors has approved the allotment of 13,01,000 convertible warrants to non-promoters on a preferential basis. The issue price is ₹674.49 per warrant, raising a total of ₹87.75 crore. The company has received ₹21.94 crore as an initial subscription payment (25% of the issue price). These warrants are convertible into equity shares at an exercise price of ₹505.8675 per share and must be converted by December 2, 2027. The allotment follows an EGM resolution and prior BSE approval.
Key Highlights
- Board approves allotment of 13.01 lakh convertible warrants.
- Total issue size for warrants is ₹87.75 crore.
- Received ₹21.94 crore as initial subscription (25%).
- Warrants convertible to equity shares by Dec 2, 2027.
- Allotment made to two non-promoter investors.
Price Impact
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