SBC Exports Limited Cancels Proposed Preferential Issue of Equity Shares
SBC Exports Limited has announced the cancellation of its proposed preferential issue of equity shares, following a Board meeting held on August 12, 2026. The proposal involved converting an unsecured loan into equity for the company’s promoters and promoter Group.The preponed issuance plan, which had been approved by the Board of Directors previously on May 29, 2026, related to the allotment of 27,516,513 Equity Shares. The proposed shares were valued at a face value of INR 1 each and were priced at INR 36.00 per share.
The preferential issue was designed around the conversion of an unsecured loan amounting to INR 99,05,94,474/-.
The Board of Directors subsequently approved the cancellation or termination of this proposed issuance. The company stated that the decision to terminate the plan was due to procedural and regulatory complexities encountered during the implementation phase of the proposed issuance of securities.
Key details regarding the cancelled preferential allotment are summarized below:
| Particular | Details |
|---|---|
| Type of Securities Proposed | Equity Share |
| Issuance Model | Preferential Allotment (Conversion of unsecured Loan into Equity Share) |
| Total Shares Proposed | 27,516,513 |
| Face Value per Share | INR 1 |
| Issue Price per Share | INR 36.00 |
| Unsecured Loan Conversion Amount | INR 99,05,94,474/- |
| Date of Proposal Approval | May 29, 2026 |
SBC Stock Price Movement
On Wednesday, shares of SBC Exports Limited slipped by 3.08%, settling at ₹40.19 after shedding ₹1.28 from previous closing prices. The stock traded amidst heavy volume, with approximately 43.6 million shares changing hands during the session.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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