Eleganz Interiors Limited Approves Convertible Warrants, Object Clause Addition, and Investment
Eleganz Interiors Limited announced on March 24, 2026, that its Board of Directors approved the issuance of up to 800,000 convertible warrants to promoters on a preferential basis. The decision also included the approval to add to the main object clause of the company’s Memorandum of Association and an investment in securities of SAR Universal Infra Private Limited.The convertible warrants will be issued at a price to be determined as on a relevant date, with each warrant entitling the holder to subscribe to one equity share. Shareholder approval will be required for both the warrant issuance and the amendment to the Memorandum of Association.
A cut-off date has been fixed as March 20, 2026, for the shareholder approval process, with remote e-voting scheduled for March 28-April 26, 2026. M/s KDA & Associates has been appointed as the Scrutinizer for this process.
The Board also resolved to invest funds to purchase 10,000 equity shares of SAR Universal Infra Private Limited, representing a 33.33% stake in the company.
Financial Details
- Convertible Warrants: Up to 800,000
- Investment in SAR Universal Infra Private Limited: 10,000 equity shares at a face value of INR 10 each, totaling INR 100,000.
- SAR Universal Infra Private Limited Turnover:
* March 2024: INR 34,37,348
* March 2025: INR 57,23,922
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