Sambhv Steel Tubes Limited Approves Issuance of Convertible Warrants Worth Up To ₹ 999 Million
Sambhv Steel Tubes Limited, formerly known as Sambhv Steel Tubes Ltd & Sambhv Sponge Power, announced that its Board of Directors approved plans to raise funds through the offer and allotment of up to 8,695,400 Fully Convertible Equity Warrants. This decision was taken at a board meeting held on July 15, 2026.The preferential issuance involves warrants with a face value of ₹ 10 each, offered at an issue price of ₹ 115 per Warrant. The transaction is aimed at aggregating up to ₹ 999,971,000 from the proposed allottees. The Warrants will be allotted within one or more tranches and are convertible into equity shares of the Company.
The company's Board meeting also addressed several other operational matters. It resolved to convene the first Extraordinary General Meeting (EGM) for shareholders on Monday, August 10, 2026. The EGM is scheduled to be conducted via Video conference (VC)/Other Audio Video Means (OAVM) at 11:30 AM at the registered office of the Company.
Furthermore, Mr. Rohtash Kumar Agrawal, Proprietor of M/s. Rohtash Agrawal & Co., was appointed as the Scrutinizer responsible for conducting the e-voting process for the EGM to ensure fairness and transparency.
Post-Allotment Shareholding Details
Based on the Warrants issuance, the post-allotment shareholding is detailed in Annexure B of the announcement, showing the existing and potential holding structure among seven proposed allottees. The following table summarizes the pre- and post-issue status for these investors:| Proposed Allottee | Category | Pre-Issue Holding | Post-Issue Holding | % of Total Equity Capital (Post-Issue) |
|---|---|---|---|---|
| Anjaneya Minerals Private Limited | Promoter Group | - | 6,608,600 | 2.18% |
| Suresh Kumar Goyal | Promoter | 18,536,250 | 18,884,050 | 6.22% |
| Vikas Kumar Goyal | Promoter | 18,536,250 | 18,884,050 | 6.22% |
| Bhavesh Khetan | Non-Promoter | 4,666,660 | 5,014,460 | 1.65% |
| Bikash Agrawal | Non-Promoter | - | 347,800 | 0.11% |
| Saurabh Patil | Non-Promoter | - | 347,800 | 0.11% |
| Anu Garg | Non-Promoter | 86,006 | 433,806 | 0.14% |
The Warrants carry a right for each holder to subscribe one Equity Share and can be exercised in tranches within 18 months from the date of allotment. At the time of subscription, an amount equivalent to 25% of the Warrant price is payable, with the remaining 75% due when the warrants are converted into Ordinary Equity Shares.
SAMBHV Stock Price Movement
Shares of Sambhv Steel Tubes Limited climb to ₹127.02 as of 2:20 PM today, edging up by 3.94% in live trading. The stock saw strong interest during the session, with over 2.15 million shares transacted so far.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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