Saptak Chem & Business Limited announced the successful allotment of 20,00,000 fully paid-up equity shares following the conversion of warrants by non-promoter investors. The Board of Directors approved this allotment during their meeting held on April 06, 2026, marking a significant capital expansion for the Ahmedabad-based company.

Board Meeting Outcome

The Board of Directors meeting commenced at 5:15 p.m. and concluded at 5:30 p.m. on April 06, 2026. The meeting was conducted in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Director Jubin Premji Gada (DIN: 10820579) signed the official outcome document.

Warrant Conversion Details

The allotment involved four non-promoter investors who exercised their right to convert share warrants into equity shares. Each investor converted 5,00,000 warrants, with the conversion completed upon payment of the remaining exercise price.

Financial Impact

The warrant conversion generated Rs.1,57,50,000 for the company through the collection of the remaining exercise price of Rs.7.875 per warrant. This amount represents 75% of the total warrant exercise price of Rs.10.50 per warrant, with the initial 25% having been paid during the original warrant allotment on January 13, 2026.

Capital Structure Changes

The allotment significantly expanded the company's equity base, with the paid-up capital increasing substantially following the warrant conversion.

Outstanding Warrants Status

Following this conversion, the company maintains a substantial number of outstanding warrants available for future conversion.

The remaining 20,00,000 warrants can be converted into an equal number of equity shares by paying Rs.7.875 per warrant within 18 months from the original allotment date of January 13, 2026. The newly allotted equity shares rank pari passu with existing equity shares in all respects, providing equal rights and privileges to the new shareholders.

Saptak Chem & Business Limited has announced the resignation of its Independent Director Mr. Chirag Nanavati, effective March 13, 2026. The resignation was formally accepted during a board meeting held on the same date, as disclosed under Regulation 30 of SEBI listing regulations following BSE's directive dated March 14, 2026.

Board Meeting and Regulatory Compliance

The board meeting was conducted on March 13, 2026, from 4:30 p.m. to 5:00 p.m., where directors addressed key governance matters. The company submitted a fresh announcement to BSE Limited in compliance with SEBI Circular No: SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Committee Positions and Responsibilities

Mr. Nanavati held significant positions within the company's governance structure. His resignation encompasses multiple key roles including Chairman of the Audit Committee, Stakeholder Relationship Committee, and Member of the Nomination and Remuneration Committee.

Resignation Details and Confirmation

In his resignation letter dated March 13, 2026, Mr. Nanavati cited pre-occupation in other activities as the primary reason for stepping down. He expressed gratitude to the board for their cooperation during his tenure and wished the company continued success in future endeavors.

The director has confirmed that there are no material reasons for his resignation other than those mentioned in his resignation letter. Mr. Nanavati also holds directorships in two other listed entities: Novyra Pharmachem Limited and Devrup Trading Limited, both as Independent Director.

Corporate Governance Impact

The company has fulfilled its disclosure obligations by providing comprehensive details as required under SEBI regulations. The resignation represents a routine corporate governance change, with the company maintaining its commitment to regulatory transparency and proper board composition management. The company has requested Form DIR-12 to be filed with the Registrar of Companies for official record.