Sharp Chucks and Machines Limited Approves Capital Increase and Director Appointment

Sharp Chucks and Machines Limited Approves Capital Increase and Director Appointment​

Sharp Chucks and Machines Limited announced several key corporate actions following its Board of Directors meeting on April 06, 2026. The approved resolutions include increases to the authorized share capital, plans for preferential issuance of equity shares and convertible warrants, and the appointment of a new Additional Director.

The Board considered and approved enhancing the Company's Authorized Share Capital. The limit is set to increase from the existing Rs. 17,50,00,000/- (Rupees Seventeen Crore Fifty Lakh) to Rs. 21,00,00,000/- (Rupees Twenty-One Crore). This expansion will comprise 2,10,00,000 (Two Crore Ten Lakh) Equity Shares of Rs. 10/- (Rupees Ten) each.

The Company also approved two types of preferential issues, subject to requisite shareholder and regulatory approvals.

One proposal involves creating, issuing, offering, and allotting up to 26,37,000 Equity Shares. These shares have a face value of Rs. 10 and will be issued at a price of Rs. 142.5 per share, which includes a premium of Rs. 132.5 per share. The aggregate consideration for this issuance is up to Rs. 37,57,72,500 for cash consideration to identified non-promoter persons/entities.

A second preferential issue pertains to up to 30,63,000 convertible warrants. These warrants, each convertible into or exchangeable for an equivalent number of fully paid-up equity shares of the Company with a face value of Rs. 10, are to be issued at a price of Rs. 142.5. The total aggregate consideration for this warrants issue is up to Rs. 43,64,77,500 for cash consideration to identified promoters and non-promoter persons/entities. For the warrants, an amount equivalent to Rs. 35.625 per equity warrant, totaling Rs. 10,91,19,375 (representing 25% of the issue price size), shall be called upfront from the proposed allottees.

The board meeting also approved the appointment of Mr. Gurdeep Singh (DIN: 07499896) as an Additional Director. This appointment is classified as Non-Executive and Non-Independent, effective from April 06, 2026. Mr. Singh shall hold this office until the conclusion of the ensuing Annual General Meeting of the Company.

Investor Allotment Details​

Details regarding the allotment of securities were provided in tables covering proposed allottees for Equity Shares and Convertible Warrants.

The structure of the preferential issuance for Equity Shares and Warrants maintained an issue price of Rs. 142.5, noted as not being lower than the floor price.

The table below summarizes the names of proposed allottees for Equity Shares and Convertible Warrants, detailing the number of units allocated to various categories of investors.

Annexure A: Name of Investor(s) of Equity Shares


Annexure A: Name of Investor(s) of Convertible Warrants


The Company also informed of the appointment of Mr. Gurdeep Singh, noting that he is not related to any of the existing Directors.

The Company is scheduled to hold an Extraordinary General Meeting (EGM) on Wednesday, May 06, 2026, at 12:30 PM (IST) to seek necessary shareholder approvals for these matters.

SCML Stock Price Movement​

At the close of trade, Sharp Chucks and Machines Limited slipped by 0.51% to trade at ₹146. The stock saw activity today, finding its price action fluctuating within an intraday range of ₹145 to ₹148.95 on 86,000 shares traded.

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