Leo Dryfruits & Spices Trading has secured Board approval for a preferential issue of 70 lakh Fully Convertible Warrants (FCWs), aiming to raise up to ₹38,50,00,000. The move is designed to augment long-term financial resources for working capital needs, capital expenditure, business expansion, and strategic investments. The issuance targets nine allottees, comprising two promoters and seven public non-promoter investors, with no change in management or control expected post-allotment.

The Board meeting held on August 08, 2026, approved the issuance under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The issue price of ₹55 per warrant was determined in accordance with Regulation 164 read with Regulation 161 of the SEBI ICDR Regulations, based on a relevant date of August 05, 2026. This price meets the floor price requirement set by applicable provisions. An Extraordinary General Meeting (EGM) will be convened to seek shareholder approval for the transaction.

Each warrant carries an entitlement to subscribe to one fully paid-up Equity Share with a face value of ₹10. The conversion option can be exercised within 18 months from the date of allotment. Under the payment terms, 25% of the issue price is payable at subscription and allotment, while the balance 75% is due upon exercise of the conversion option. If the conversion option is not exercised within the stipulated period, the warrants will lapse, and the upfront amount paid will be forfeited as per SEBI ICDR Regulations.

The proposed allottees include promoter Kaushik Sobhagchand Shah and Ketan Sobhagchand Shah, who are subscribing to 12,00,000 warrants each. Public non-promoter investors such as Shree Ram Realities (16,00,000 warrants), Jignesh Jaswantra Mehta (14,00,000 warrants), and Ami Niraj Shah (10,00,000 warrants) constitute significant portions of the issue. Other allottees include Sejal Rohit Sanghvi, Dharmi Paresh Mehta, Sana Fatima Syed, and Magha Devi Solanki.

Key Terms of the Issue

The equity shares arising from the conversion of these warrants will rank pari passu in all respects with existing equity shares of the company. The warrants and the resulting equity shares will be subject to lock-in requirements prescribed under Chapter V of the SEBI ICDR Regulations. The company must complete the allotment within timelines prescribed under the SEBI ICDR Regulations and other applicable laws. In-principle approval from BSE Limited is also required alongside shareholder consent.

Leo Dryfruits & Spices Trading Limited shareholders have approved the alteration of the company's Articles of Association to enable the issuance of warrants and convertible securities. The resolution was passed with 100% of votes in favour at an Extraordinary General Meeting (EGM) held on July 17, 2026, via video conferencing. This amendment allows the company to expand its capital-raising instruments by inserting new Article 15A into its regulatory framework.

The EGM commenced at 10:03 A.M. IST and concluded at 10:13 A.M. IST. The requisite quorum was present, and the meeting was chaired by Kaushik Sobhagchand Shah, Chairman and Managing Director. The Board appointed Mr. Ritul Parmar, Proprietor of M/s. Ritul Parmar & Associates, as the Scrutinizer to oversee the e-voting process.

Remote e-voting was facilitated through the National Securities Depository Limited (NSDL) platform. The voting process commenced on July 14, 2026, at 9:00 A.M. IST and concluded on July 16, 2026, at 5:00 P.M. IST. A total of 81,59,140 votes were polled, representing 45.60% of the outstanding shares.

Voting Results

The special resolution received the necessary approval from both promoter and public shareholder categories. There were no votes cast against the resolution, and no invalid votes were recorded.

The Scrutinizer's Report confirms that the resolution was passed with the requisite majority. The results have been submitted to BSE Limited and are available on the company's website.