Sharika Enterprises Limited held its 28th Annual General Meeting (AGM) on September 28, 2026, at 12:00 pm through Video Conferencing (VC). The company disclosed the proceedings and voting outcomes to the BSE in compliance with SEBI listing regulations.

The meeting was chaired by Rajinder Kaul, who confirmed the quorum and called the session to order. Pushpa Yadav, Company Secretary and Compliance Officer, welcomed members and outlined the procedures for virtual participation. She noted that remote e-voting facilities were available to shareholders as of the cut-off date of September 18, 2026.

Meeting Proceedings and Voting

Aditya Sharma, Proprietor of M/s. Aditya S & Associates, served as the scrutinizer to ensure a fair and transparent e-voting process. Shareholders who had not voted remotely were provided with live e-voting access during the AGM.

Key details of the meeting are summarized below:

Regulatory Compliance

The AGM was conducted in adherence to various circulars issued by the Ministry of Corporate Affairs (MCA) and the Securities and Exchange Board of India (SEBI). These include MCA Circulars dated from April 2020 to May 2022 and SEBI Circulars ranging from May 2020 to October 2024, which permit general meetings to be held virtually.

The company submitted Annexures A, B, and C to the exchange, detailing the summary of proceedings, voting results, and the scrutinizer's report respectively. No financial performance metrics or dividend declarations were explicitly detailed in the provided filing text.

Sharika Enterprises Limited allotted 1,21,92,125 equity shares on a preferential basis to non-promoter entities, raising ₹17.47 crore in fresh capital. The allotment was approved by the Board of Directors on September 25, 2026.

The company also issued 28,12,315 warrants convertible into equity shares at the same price of ₹14.33 per share. This warrant issue aggregates to ₹4.03 crore, with an upfront subscription amount of ₹1.00 crore received from six allottees, including promoters and non-promoters.

Equity Share Allotment Details

The equity shares were issued at a price of ₹14.33 per share, comprising a face value of ₹5 and a premium of ₹9.33. These shares rank pari passu with existing equity shares and are subject to lock-in periods as per SEBI (ICDR) Regulations, 2018. The allotment follows member approval via special resolution on July 17, 2026, and in-principal approval from BSE on September 10, 2026.

Key institutional investors included Veloce Opportunities Fund II, Veloce Innovations LLP, and Bridge India Fund, which together accounted for a significant portion of the subscribed capital. The total consideration for the equity tranche stood at ₹17,47,13,151.

Warrant Issuance Structure

The warrants were issued at the same issue price of ₹14.33, with 25% payable upfront as a subscription price of ₹3.5825 per warrant. The remaining 75%, or ₹10.7475 per warrant, is payable upon exercise within 18 months from the date of allotment. Failure to exercise within this period results in forfeiture of the upfront payment.

What the Numbers Show

The preferential allotment introduces significant dilution potential through the convertible warrants. While the immediate cash inflow from warrants is limited to ₹1.00 crore, the full conversion would bring an additional ₹3.02 crore into the company’s coffers over the next 18 months. The concentration of equity allotment among a few major funds suggests a targeted capital raise rather than a broad-based public offering.