Sobhagya Mercantile Limited has secured a significant work order worth ₹260.53 crore for the construction of the Adyal Lift Irrigation Scheme under the Gosikhurd Project. The order was received by M/s. Adyal L.I.S. (JV), a joint venture where the company holds a 40% stake alongside S. S. Fabricators & Manufacturers Private Limited, which holds the remaining 60%. The project, located in Tal. Bramhapuri, Dist. Chandrapur, was awarded by the Vidarbha Irrigation Development Corporation, Nagpur, Office of the Executive Engineer, Gosikhurd Right Bank Canal Division, Bramhapuri.

The agreement, numbered B-1/05/DL/2026-2027, was signed on June 09, 2026. The joint venture has deposited an initial security deposit of Rs 2,61,29,200 via bank guarantee and remitted a stamp duty of Rs 25,00,000 to formalize the contract. The project is classified as a domestic order and is not a related party transaction.

Project Details

The contract stipulates a strict timeline for completion. The joint venture is required to execute the entire scope of work within a period of 33 months from the commencement date. The nature of the order involves comprehensive construction activities for the lift irrigation scheme.

Financial and Operational Breakdown

The intimation was submitted to the exchange under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure confirms that neither the promoter group nor other group companies hold any interest in the entity awarding the order.

Zeal Global Opportunities Fund has acquired a 5.89% stake in Sobhagya Mercantile Limited through the preferential allotment of convertible warrants. The acquisition, disclosed under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, involved the allotment of 6,50,500 warrants on June 03, 2026. This transaction represents a significant shift in the shareholding pattern of Sobhagya Mercantile Limited, which is listed on BSE Limited.

The warrants carry a face value of Rs. 10 each and were issued at a premium of Rs. 664.49 each. Prior to this acquisition, the acquirer held no shares, voting rights, or other instruments in the target company. Following the allotment, Zeal Global Opportunities Fund holds 6,50,500 warrants, which account for 5.89% of the total diluted share capital of Sobhagya Mercantile Limited.

Acquisition Details

The disclosure outlines the specific details of the transaction, confirming that the acquirer does not belong to the promoter or promoter group of the target company. The mode of acquisition was identified as a preferential allotment of convertible warrants. The equity share capital of Sobhagya Mercantile Limited remains unchanged at Rs. 9,74,85,000, comprising 97,48,500 equity shares of Rs. 10 each. However, the total diluted share capital post-acquisition stands at Rs. 11,04,95,000, accounting for the full conversion of the outstanding warrants into equity shares.

Shareholding Structure

The following table summarizes the acquirer's holding before and after the transaction:

The disclosure was submitted to BSE Limited and Sobhagya Mercantile Limited on June 04, 2026, by Zaid Peerun, Director of Zeal Global Opportunities Fund. The document confirms that the acquirer has complied with the regulatory requirements for substantial acquisition of shares.