Sudarshan Chemical Industries has announced the allotment of 9,80,000 Equity Shares to Mr. Rajesh Balkrishna Rathi. This allotment follows the exercise of conversion of warrants, previously issued on a preferential basis. The company received the remaining payment, and these new equity shares will rank pari-passu with existing shares, subject to lock-in periods.
Warrant Conversion and Share Allotment
Sudarshan Chemical Industries Limited has completed the allotment of 9,80,000 Equity Shares to Mr. Rajesh Balkrishna Rathi. This action is a direct result of Mr. Rathi exercising his warrants, which were issued as part of a preferential private placement offer. The company had previously informed shareholders about the approval for issuing up to 9,80,000 warrants, each convertible into one fully paid-up equity share at a price of Rs. 1,019.75 per warrant.
Financial Details of Conversion
As per the terms of the warrant issuance, 25% of the consideration was received at the time of subscription, amounting to Rs. 254.94 per warrant. Mr. Rathi has now remitted the remaining 75% of the consideration, totaling Rs. 764.81 per warrant, to fully convert his warrants into equity shares. This conversion was approved by the Allotment Committee on June 10, 2026.
Impact on Share Capital and Holdings
The allotment of these 9,80,000 Equity Shares, each with a face value of Rs. 2/-, has increased the company’s paid-up equity share capital. Consequently, the total number of equity shares has risen from 7,86,27,576 to 7,96,07,576, with the total amount increasing from Rs. 15,72,55,152 to Rs. 15,92,15,152. Following this allotment, Mr. Rajesh Balkrishna Rathi’s shareholding in the company has increased to 9.32% from the pre-allotment figure of 8.19%.
Shareholder Rights and Lock-in
The newly allotted Equity Shares will carry the same rights as the existing fully paid-up Equity Shares of the Company. These shares will rank pari-passu in all respects. Importantly, these shares will be subject to a lock-in period as stipulated under Chapter V of the SEBI ICDR Regulations.
Disclosure Details
The disclosure regarding this allotment, made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is provided in detail. The information covers the type of securities issued, the nature of the issuance (preferential allotment), the total number of shares allotted, the investor’s name, and the shareholding pattern before and after the allotment.
Source: BSE
