Shanghvi Finance Private Limited has acquired 3,85,10,000 convertible warrants in Sun Pharma Advanced Research Company Limited. Issued at a price of ₹155.80 per warrant, this investment represents a total consideration of approximately ₹600 crore upon full conversion. The warrants are convertible into an equal number of equity shares of ₹1 face value each within an 18-month tenure, further consolidating the promoter group’s strategic stake in the company.
Strategic Investment Details
On May 19, 2026, Sun Pharma Advanced Research Company Limited allotted 3,85,10,000 convertible warrants to Shanghvi Finance Private Limited. Each warrant grants the right to subscribe to one fully paid-up equity share of the company with a face value of ₹1.
The issue price per warrant is set at ₹155.80. The subscription structure requires an upfront payment of 25% of the issue price—totaling ₹1,49,99,64,500—at the time of allotment. The remaining 75%, amounting to ₹4,49,98,93,500, will be payable at the time of exercising the conversion option.
Conversion and Ownership Impact
The warrants carry an 18-month conversion window from the date of allotment. Upon full exercise of these conversion rights, the aggregate consideration will reach approximately ₹600 crore. While the warrants currently do not carry voting rights, their conversion will lead to an expansion of the equity share capital to 36,30,31,588 shares.
This acquisition is part of a larger realignment within the promoter group, which includes entities such as Dilip S. Shanghvi, Sudhir Vrundavandas Valia, and various family-owned investment firms. Following the potential conversion, the acquirer’s holding will reflect the increased stake, further strengthening their long-term commitment to the company’s growth and research-driven initiatives.
Source: BSE
