Sun Pharma Advanced Research Company Limited has announced the successful allotment of 3,85,10,000 convertible warrants to Shanghvi Finance Private Limited. The warrants were issued on a preferential basis at a price of INR 155.80 per warrant. The company has received an initial payment of INR 1,49,99,64,500, representing 25% of the total issue price, in alignment with its capital expansion strategy.
Details of the Preferential Allotment
Following approvals from the Board of Directors and shareholders, the Securities Allotment Committee finalized the issuance of 3,85,10,000 warrants. Each warrant is priced at INR 155.80. The company has successfully secured the mandated 25% upfront payment, amounting to INR 1,49,99,64,500, which has been credited to the company as part of this fundraising initiative.
Conversion Terms and Impact
Under the terms of the issuance, each warrant provides the holder the right to convert it into one fully paid-up equity share of the company with a face value of INR 1. While the immediate allotment of these warrants does not alter the current paid-up equity share capital, the company’s capital structure will be adjusted accordingly upon the future conversion of these instruments into equity shares.
Execution Timeline
The allotment process was concluded following a committee meeting held on May 19, 2026. The formal proceedings commenced at 12:00 PM (IST) and concluded shortly thereafter at 12:15 PM (IST), marking the successful completion of this phase of the company’s capital mobilization plan.
Source: BSE
