Sobhagya mercantile Limited has announced a board meeting scheduled for March 23, 2026, to consider a significant fund raising proposal. The company communicated this development to BSE Limited on March 17, 2026, in compliance with regulatory disclosure requirements.

Board Meeting Agenda

The primary agenda for the board meeting centers on evaluating and approving a fund raising initiative through equity share issuance. The proposal encompasses several key parameters:

The fund raising proposal will be structured according to Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirement) Regulations, 2018, along with applicable provisions of the Companies Act, 2013. The board retains discretion over the pricing, terms, and conditions of the proposed issuance.

Regulatory Compliance and Approvals

The implementation of the fund raising proposal requires multiple levels of approval. The company has outlined the necessary regulatory clearances and procedural requirements that must be fulfilled before execution.

The proposal is subject to receipt of statutory and regulatory approvals, including mandatory approval from company members through either a general meeting or postal ballot process. Additional regulatory and statutory approvals may be required as determined by applicable regulations.

Trading Window Restrictions

In accordance with insider trading regulations, Sobhagya Mercantile Limited has implemented a trading window closure effective March 17, 2026. This restriction applies to multiple categories of stakeholders:

• Directors and Key Managerial Personnel (KMPs)
• Promoters and Promoter Group members
• Connected Persons and Designated Persons
• Immediate relatives of the above categories

The trading window will remain closed until 48 hours after the board meeting announcement is made available to the public. All affected parties have been formally notified about the trading restrictions during this period.

Corporate Information

Sobhagya Mercantile Limited operates under CIN L45100MH1983PLC031671 with its registered office located at One Lodha Place, Lower Parel, Mumbai. The company is listed on BSE Limited under scrip code 512014. The board meeting communication was signed by Shrikant Mitesh Bhangdiya, Managing Director, ensuring proper corporate governance protocols are followed.

Sobhagya Mercantile Limited's Board of Directors has approved significant capital raising measures through the allotment of convertible warrants and equity shares to non-promoter investors. The board meeting held on March 11, 2026, concluded with approvals for warrant allotments totaling Rs. 20.23 crore and simultaneous equity share conversions, as communicated to BSE Limited under Regulation 30 of SEBI LODR Regulations, 2015.

Convertible Warrants Allotment Details

The board approved the allotment of 13,48,500 convertible warrants with a face value of Rs. 10.00 each at a premium of Rs. 664.49 per warrant to three non-promoter entities on a preferential basis.

SEBI Regulatory Disclosure Filing

Legends Global Opportunities (Singapore) Pte. Ltd. has filed mandatory disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, confirming the allotment of 6,50,500 convertible warrants. The disclosure was submitted to BSE Limited and Sobhagya Mercantile Limited on March 13, 2026, by Director Indranathsingh Seewooruttun.

Equity Shares Allotment and Conversion

Dovetail India Fund-Class 22 provided 100% consideration amount, including both the subscription price of Rs. 168.62 per warrant and exercise price of Rs. 505.87 per share, totaling Rs. 20,23,47,000. This enabled the simultaneous conversion of 3,00,000 warrants into equity shares at an issue price of Rs. 674.49 per share.

Capital Structure Impact

The equity share allotment has increased the company's paid-up equity capital from Rs. 8,40,00,000 consisting of 84,00,000 equity shares to Rs. 8,70,00,000 comprising 87,00,000 equity shares of Rs. 10.00 face value each. The total diluted share capital after considering outstanding warrants stands at Rs. 97,48,50,000 comprising 97,48,500 equity shares. The allotment was conducted under the resolution passed in the Extraordinary General Meeting held on February 02, 2026, with in-principle approval received from BSE Limited dated February 24, 2026.

Regulatory Compliance and Timeline

The convertible warrants carry a conversion deadline of September 10, 2027, requiring conversion within 18 months from the allotment date. Outstanding warrants not exercised by holders will lapse on September 11, 2027. The board meeting concluded at 07:15 p.m. with all proposed resolutions receiving approval, and the outcome was communicated to BSE Limited in compliance with SEBI regulations.