Sudarshan Pharma Industries Ltd's small-cap stock, priced under ₹50, is set to draw attention on Monday following the allotment of 90 lakh equity shares through warrant conversion.
The company's Warrants Committee approved the conversion of 9 lakh warrants into 90 lakh fully paid-up equity shares on June 12, 2026. This conversion resulted in an infusion of ₹11.46 crore, strengthening the company's capital base and increasing promoter shareholding.
The equity shares were allotted at an issue price of ₹16.983 per share, including a premium of ₹15.983 per share.
Promoters Hemal Vasantrai Mehta and Sachin Vasantrai Mehta converted 4.5 lakh warrants each, receiving 45 lakh equity shares apiece. They paid the balance amount of ₹127.37 per warrant, representing 75% of the warrant issue price, totaling ₹11.46 crore.
Following this allotment, Sudarshan Pharma's issued and paid-up share capital increased to ₹24.96 crore, comprising 24.96 crore equity shares of Re 1 each. The promoter and promoter group shareholding now stands at 58.93%, while non-promoter shareholding is 41.07%.
The original warrant terms allowed holders to exercise their conversion rights within 18 months from the date of allotment, with 25% of the issue price paid upfront and the remaining 75% payable upon conversion.
Background
The stock's recent performance and the increased promoter shareholding could potentially impact its market perception and investor interest.
Investors will be keenly watching the stock's movement in the coming days.
