Shera Energy Limited Board Approves Capital Increase and Issuance of 45 Lakh Convertible Warrants

Shera Energy Limited Board Approves Capital Increase and Issuance of 45 Lakh Convertible Warrants​

Shera Energy Limited announced several key corporate decisions following its Board of Directors meeting held on April 17, 2026. The Board approved a significant increase in the Company’s Authorized Share Capital and the issuance of up to 45,00,000 fully convertible warrants through a preferential allotment.

The Board meeting, which took place on April 17, 2026, considered and approved the following major corporate actions:

Capital Structure Enhancements​

The Directors approved increasing the Authorized Share Capital of the Company. The capital will increase from Rs. 25,50,00,000, divided into 2,55,00,000 equity shares of Rs. 10 each, to Rs. 30,50,00,000, divided into 3,05,00,000 equity shares of Rs. 10 each. This enhancement is subject to subsequent approval from the shareholders.

Furthermore, the Board approved the issuance of up to 45,00,000 fully convertible warrants (Warrants). Each warrant has a face value of ₹10 and is convertible into an equivalent number of equity shares. The warrants are to be issued at an issue price of ₹118 per warrant, which includes a premium of ₹108.

The issuance will take place on a preferential basis to the Promoter/Promoter Group and Non-Promoter investors. Allottees include Mr. Sheikh Naseem, Mr. Shivani Sheikh, Holani Venture Capital Fund, and Quantumgrowth Partners LLP.

The terms of the warrant issuance stipulate that the warrants must be convertible into equity shares within 18 months from the date of allotment. Payment requires an upfront amount equivalent to at least 25% of the issue price at the time of allotment, with the remaining 75% payable upon exercise or conversion.

The total allocation of the 45,00,000 warrants is detailed as follows:

Governance and Meeting Approvals​

The Board also approved several key operational and governance matters:

1. Extraordinary General Meeting (EGM): The Directors scheduled the convening of an Extraordinary General Meeting for the Company members on Friday, May 15, 2026, at 03:00 P.M. The meeting will be conducted through Video Conferencing / Other Audio Visual Means to seek shareholder approval for the aforementioned matters.
2. Appointment of Scrutinizer: Mr. Sanjay Kumar Joshi, Proprietor of M/s S.K. Joshi & Associates, practicing Company Secretaries, was appointed as Scrutinizer for conducting the e-voting process for the ensuing EGM.
3. Remuneration and Royalty: The Board approved an increase in the remuneration payable to Shivani Sheikh, Whole-Time Director, and also approved the payment of royalty to Sheikh Naseem for the usage of the trademark, brand name, and other intellectual property rights.

The Company will seek shareholder approval on the matters of capital increase and the issuance of warrants during the scheduled EGM.

SHERA Stock Price Movement​

As of 3:19 PM, shares of Shera Energy Limited are slipping by 0.08% in live trading, currently priced at ₹131.9. The stock has seen 10,000 shares traded so far in the session.

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