Shera Energy Limited has approved the preferential allotment of 45,00,000 fully convertible warrants at an issue price of ₹118 per share to raise ₹53,10,00,000. The board's decision on July 14, 2026, follows the special resolution passed by shareholders at an Extraordinary General Meeting held on May 15, 2026, and the in-principle approval received from the National Stock Exchange of India Limited on June 29, 2026. The allotment aims to bolster the company's capital base through the issuance of these instruments to specific allottees.

The warrants have been allotted to Sheikh Naseem and Shivani Sheikh, categorized as promoters, and non-promoters Holani Venture Capital Fund – I and Quantumgrowth Partners LLP. Each warrant carries the right to subscribe to one equity share of face value ₹10 each. The conversion is contingent upon the payment of the balance 75% of the issue price and must occur within a period of 18 months from the date of allotment.

Allotment Details

The board approved the issuance pursuant to the provisions of Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and the Companies Act, 2013. The allottees include a mix of promoter and non-promoter investors, with the promoter group receiving the majority of the warrants.

Shareholding Pattern

Assuming full conversion of the warrants, the promoter and promoter group's shareholding will increase to 66.82% from 62.35%. The public shareholding will correspondingly decrease to 33.18% from 37.65%. The total number of equity shares post-conversion will rise to 2,89,39,347.

The meeting was convened under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Jyoti Goyal, Company Secretary & Compliance Officer, confirmed the intimation to the stock exchanges regarding the board's decision.

Shera Energy has disclosed the link to the valuation report regarding its preferential issue of fully convertible warrants. The company confirmed that the report, referenced in the notice for the Extraordinary General Meeting dated April 17, 2026, is accessible on its official website. This disclosure follows the regulations concerning the preferential issue under Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

The company provided a confirmation regarding the wilful defaulter status of key entities associated with the issue. Shera Energy stated that neither the issuer company, its promoters, nor its directors have been declared as wilful defaulters by any bank, financial institution, or consortium as per Reserve Bank of India guidelines. Additionally, the company confirmed that none of these individuals or entities have been declared fugitive economic offenders under the Fugitive Economic Offenders Act, 2018.

Confirmation of Status

The disclosure detailed the compliance status of the parties involved in the preferential allotment:

The undertaking specified in the Explanatory Statement to the EGM Notice covers the issuer company, its promoters, and directors, in addition to the proposed allottees. The valuation report is available at https://www.sheraenergy.com/others.php .