Shivalik Rasayan Limited has scheduled an Extra-Ordinary General Meeting (EGM) for Thursday, August 20, 2026, to seek shareholder approval for a preferential allotment worth up to ₹33 crore. The company plans to raise funds through the issuance of equity shares and fully convertible warrants (FCWs) to strengthen its capital base for research and development initiatives in agrochemicals and active pharmaceutical ingredients. This move allows the company to leverage both equity and hybrid instruments while offering investors flexible entry points into its growth trajectory.

The Board of Directors approved the issuance during a meeting held on July 23, 2026. The proposal involves issuing up to 3,72,000 Equity Shares with a face value of ₹5 each at an issue price of ₹250 per share, aggregating to ₹9.30 crore. Simultaneously, the company plans to allot up to 9,48,000 FCWs at the same price point of ₹250 per warrant, totaling ₹23.70 crore. Both instruments are priced in accordance with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and relevant provisions of the Companies Act, 2013.

Equity Share Allotment Details

The equity shares are being offered to public category investors. The allocation is distributed among five entities, primarily involving individual investors and joint holdings. Ashwani Kumar Sharma, a Non-Executive Non-Independent Director of the company, is among the proposed allottees.

Warrant Issuance Structure

The fully convertible warrants are convertible into an equivalent number of equity shares of face value ₹5 each. Holders may convert these warrants in one or more tranches within 18 months from the date of allotment. The allottees include both promoter group entities and public investors. Growel Remedies Limited, controlled by promoter Rahul Bishnoi, is the largest warrant allottee.

Utilization of Proceeds

The company intends to utilize the proceeds primarily for research and development activities related to pharmaceutical products, APIs, and agrochemicals. A significant portion will also be allocated for purchasing analytical equipment and pilot-scale machinery. The remaining funds will be used for general corporate purposes.

Regulatory Approvals and Voting Timeline

The issuance is subject to approval by shareholders and applicable regulatory authorities. The EGM will be held at Hotel Saffron Leaf, Dehradun, Uttarakhand. Shareholders holding shares as on the cut-off date of August 13, 2026, are eligible to vote. Remote e-voting will commence on Monday, August 17, 2026, at 9:00 AM and end on Wednesday, August 19, 2026, at 5:00 PM. Mr. Manoj Kumar Jain, Practicing Company Secretary, has been appointed as the scrutinizer for the voting process. The disclosure was made in compliance with Regulation 30 of the SEBI Listing Regulations, 2015.

Growel Remedies Limited, the promoter of Shivalik Rasayan Limited , holds 74,61,677 shares representing a 47.37% stake as of March 31, 2026. The disclosure confirms that no shares were encumbered, directly or indirectly, during the financial year ended March 31, 2026.

The declaration was submitted pursuant to Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Rahul Bishnoi, Director of Growel Remedies Limited, signed the disclosure on April 4, 2026.

Shivalik Rasayan Limited subsequently filed the disclosure with BSE Limited and the National Stock Exchange of India Ltd on April 6, 2026. The filing was verified by Parul Choudhary, Company Secretary & Compliance Officer.

Shareholding Details