Sharika Enterprises Ltd’s Board Approves Dual Preferential Issue: Raising Funds via Equity Shares and Share Warrants

Sharika Enterprises Ltd’s Board Approves Dual Preferential Issue: Raising Funds via Equity Shares and Share Warrants​

Sharika Enterprises Ltd announced that its Board of Directors, at a meeting held on June 23, 2026, approved a significant preferential issue intended to raise funds through the allotment of both equity shares and share warrants.

The company’s board considered and approved two major capital raising initiatives: the issue of equity shares to Non-Promoter Investors (NP), and the issuance of Share Warrants to Promoters and Non-Promoter Investors (NP). Both issuances are subject to final regulatory and statutory approvals and subsequent approval by members at an Extra Ordinary General Meeting (EGM).

Equity Shares Allotment Details​

The first initiative involves the raising of funds through a preferential issue of equity shares. The company approved the allotment of up to 15,149,079 equity shares, each having a face value of Rs. 5/-.

The Issue Price for these shares was set at Rs. 14.33 per share, which includes a premium of Rs. 9.33. The maximum aggregate consideration expected from this tranche is up to Rs. 21,70,86,305 (Rupees Twenty One Crore Seventy Lakhs Eighty-Six Thousand Three Hundred Five Only).

This equity issuance was targeted towards various Non-Promoter Investors, with details of the proposed allottees provided in a detailed schedule.

Share Warrants Issue Details​

The second part of the capital raise involves the preferential issue of up to 38,38,102 Share Warrants. These warrants are set to be convertible into one equity share of face value Rs. 5/-.

Similar to the equity shares, the Issue Price for the warrants was fixed at Rs. 14.33 per warrant, incorporating a premium of Rs. 9.33. The maximum aggregated investment targeted from this tranche is up to Rs. 5,50,00,000 (Rupees Five Crore Fifty Lakhs Only).

The issue of warrants was extended to both Promoters and Non-Promoter Investors. One key detail regarding the warrants is that they are convertible into an equity share, and the conversion can be exercised within a period of 18 months from the date of allotment in one or more tranches.

Corporate Governance and Future Plans​

To ensure necessary shareholder approval for these preferential issues, the company has drafted a notice for an Extra Ordinary General Meeting (EGM). This EGM is scheduled to take place on Friday, July 17, 2026, and will be conducted through VC/OAVM.

The Company designated Friday, July 10, 2026, as the "Cut-off Date" for determining the eligibility of members entitled to vote by remote e-voting. To uphold transparency in the voting process, M/s. Mihen Halani & Associates, Practicing Company Secretaries, were appointed as the Scrutinizer for the EGM.

The board meeting concerning these outcomes commenced at 04:00 PM and concluded at 07:30 PM.

Stock Price Movement​

Shares of Sharika Enterprises Ltd settled at ₹19.98 in post-market trading today, ticking up by a strong 4.99% on the day. The stock maintained a completely flat trading pattern throughout the session, with its high and low remaining locked at ₹19.98.