Shree Salasar Investments Limited board approved the allotment of 18,50,000 warrants to promoters and certain identified non-promoters on a preferential basis. The warrants are priced at ₹175 each, aggregating to ₹32.37 crore.

The allotment was approved during the board meeting held on October 21, 2026. The warrants carry an entitlement to subscribe to an equivalent number of equity shares with a face value of ₹10 each. The conversion period is set at 18 months from the date of allotment.

Allotment Details

The company has already received in-principle approval from the Bombay Stock Exchange for the issue. The warrants allow allottees to apply for and receive equity shares upon payment of the remaining 75% of the issue price within the specified tenure. Post-conversion, these shares will rank pari passu with existing equity shares.

What the Numbers Show

The allotment structure indicates a significant concentration among promoters. Ajay Dilkush Sarupria and Shailesh Ghisulal Hingarh, both promoters, received 9,00,000 warrants each, accounting for approximately 97.3% of the total warrants issued. This suggests that the primary capital infusion or potential dilution impact is heavily weighted towards the promoter group rather than external non-promoter investors.

Conversion Terms

Each warrant is convertible into one equity share. The rights attached to the warrants can be exercised at any time within 18 months from the date of allotment. The issue price of ₹175 is not less than the minimum price determined in accordance with SEBI (ICDR) Regulations. There is no immediate change in the paid-up equity share capital upon the issuance of warrants; dilution occurs only upon conversion.

Shree Salasar Investments Limited has regularized Sumesh Ashok Mishra as a Non-Executive Independent Director following shareholder approval at the Annual General Meeting held on September 29, 2026. The company also re-appointed Chetana Ramakant Dasare as a Director and appointed a new statutory auditor for the next five years.

Board composition updates

Mishra, who was initially appointed as an Additional Non-Executive Independent Director effective September 5, 2026, is now formally regularized for a five-year term. He is not liable to retire by rotation. The company confirmed that neither Mishra nor Dasare has been debarred from holding office by SEBI or any other authority.

Dasare, who retired by rotation at the meeting, was re-appointed as a Non-Executive Non-Independent Director based on the recommendation of the Nomination and Remuneration Committee. Her new term commenced on September 29, 2026, and she remains liable to retire by rotation.

Auditor appointment

The shareholders approved the appointment of M/s B. L. Dasharda & Associates as the Statutory Auditor. The firm will hold office from the conclusion of this AGM until the conclusion of the sixth AGM, covering financial years FY27 through FY31.

New committee structures

The company disclosed the revised composition of key board committees effective September 5, 2026. Ananda Bhattacharya serves as Chairman for all three committees listed below, with Rishabh Verdia and Sumesh Mishra serving as members.

Director profiles

Sumesh Ashok Mishra is a Chartered Accountant and MBA professional with expertise in financial services and real estate. He currently holds directorships in several entities including Lighthouse Realty Solutions Private Limited and Arkade Developers Limited.

Chetana Ramakant Dasare is an MBA professional specializing in marketing and sales. Her expertise includes business development, market analysis, and customer relationship management.