Sharika Enterprises Ltd Announces Substitution of Allottees for Preferential Issue
Sharika Enterprises Ltd has announced a change in the proposed allottees for its upcoming preferential issue following a Board meeting held on July 16, 2026. The company noted that two previously proposed allottees became ineligible due to the sale of equity shares, which led to non-compliance with specific eligibility conditions prescribed under regulatory guidelines.In response to these developments, the Board has approved the substitution of the ineligible participants with new investors. Aside from the change in names of the proposed allottees, all other terms and conditions of the preferential issue remain unchanged. This includes the issue price, the total number of equity shares to be issued, and the intended objects of the issue as outlined in the previous Extraordinary General Meeting notice.
The company has authorized the issuance of a Second Corrigendum to the Extraordinary General Meeting Notice to officially incorporate these changes into the records.
Revised Proposed Allottees
The following table details the substitution of the proposed allottees:| Sr. No | Existing Proposed Allottee | Revised Proposed Allottee |
|---|---|---|
| 1. | Amit Dayalji Chauhan | Surendra Shashikant Parikh |
| 2. | Mehul Suryakant Jain | Bhavna Parasmal Chordiya |
Summary of Investment Details
The proposed preferential issue involves a total of 1,51,49,079 shares at an issue price of 14.33. The total investment amount for the issuance is expected to be 21,70,86,305.| Category | Total Number of Shares | Issue Price | Total Investment Amount (INR) |
|---|---|---|---|
| Total | 1,51,49,079 | 14.33 | 21,70,86,305 |
Stock Price Movement
Sharika Enterprises Ltd shares settled at ₹21.88 on Thursday, jumping 4.99% after the closing bell. The stock traded completely flat throughout the session, remaining locked at a price of ₹21.88 for both its high and low points.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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