Sobhagya Mercantile Ltd Allots 13 Lakh Convertible Warrants at ₹674.49 Per Warrant
Sobhagya Mercantile Limited announced that its Board of Directors approved the allotment of 1,301,000 Convertible Warrants (CWs) to non-promoters through a preferential basis allocation. The transaction details were finalized during the meeting held on June 3, 2026.The company allotted the warrants with a face value of ₹10/- each at an issue price of ₹674.49/- per warrant. This allotment raised a premium amounting to Rs 87,75,11,490/- (Rupees Eighty Seven Crore Seventy Five Lakh Eleven Thousand Four Hundred and Ninety only).
The CWs were allotted to two non-promoter investors who participated in the preferential issue. The details of the allocation are provided below:
| Sr No | Name of the Allottee | Category | Number of Convertible Warrants Allotted |
|---|---|---|---|
| 1 | Nova Global Opportunities Fund PCC-Touchstone | Non - Promoter | 6,50,500 |
| 2 | Zeal Global Opportunities Fund | Non - Promoter | 6,50,500 |
| Total | 13,01,000 |
Subscription and Terms of Allotment
Following the allotment, Sobhagya Mercantile Limited received ₹21,93,77,872.50 on the subscription of 13,01,000 Convertible Warrants. The subscription price for the warrants was set at Rs 168.6225 per warrant.Under the terms of the issuance, which includes an allotment payment of 25% of the Issue Price (₹168.6225 per warrant), the holders of the warrants are entitled to exercise an option to subscribe to 13,01,000 Equity Shares of the Company. These shares would carry a face value of ₹10/- each and an specified exercise price of ₹505.8675 per share.
Conversion Timeline
The company established clear timelines regarding the conversion of the warrants. The last and final date for converting these warrants is set as December 2, 2027. Any outstanding warrants that have not been exercised by this deadline will lapse on December 3, 2027.Stock Price Movement
Sobhagya Mercantile Ltd. shares settled at ₹876.00 in post-market trading today after dipping 0.88%. The stock saw a wide session, tracing a volatile path between an intraday high of ₹905.95 and a low of ₹867.00.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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