Sancode Technologies Limited's board of directors has approved a comprehensive capital expansion plan during their meeting held on February 26, 2026. The technology company announced several key decisions aimed at strengthening its financial position and expanding its capital base through strategic fundraising initiatives.

Authorized Share Capital Enhancement

The board approved a substantial increase in the company's authorized share capital structure. The expansion involves raising the authorized capital from Rs. 6,50,00,000 to Rs. 10,00,00,000, representing a significant enhancement in the company's capital framework.

The enhancement involves creating additional Rs. 3,50,00,000 divided into 35,00,000 equity shares of Rs. 10 each, subject to shareholder approval in the upcoming general meeting.

Convertible Warrants Issuance

The company has approved the issue of up to 23,25,582 convertible warrants on a preferential basis to both promoters and non-promoters. This strategic fundraising initiative is structured with specific terms designed to provide flexibility for investors while ensuring capital infusion for the company.

The warrant allocation includes three investors: Khushboo Jain (promoter) receiving 4,65,000 warrants, Aneka LLC (non-promoter to promoter) receiving 3,70,195 warrants, and Trinity Gate LLC (non-promoter) receiving 14,90,387 warrants.

Leadership Appointment

The board appointed Mr. Ramraj Singh Thakur as Company Secretary and Compliance Officer with immediate effect from February 26, 2026. Mr. Thakur brings over five years of experience and holds associate membership (A51179) from the Institute of Company Secretaries of India. The appointment addresses the company's compliance requirements following the resignation of the previous Company Secretary.

Upcoming Shareholder Meeting

Sancode Technologies has scheduled an Extraordinary General Meeting for Wednesday, March 25, 2026, at 03:00 P.M. at the company's registered office. The meeting will seek shareholder approval for the authorized share capital increase and convertible warrants issue through special resolutions. The board also appointed Dilip Swarnkar & Associates as scrutinizer for the voting process and issuance of scrutinizer reports.

The board meeting, which commenced at 07:00 P.M. IST and concluded at 09:00 P.M. IST, demonstrates the company's commitment to transparent governance and strategic capital planning. These initiatives, subject to shareholder approval, position the company for potential growth and expansion opportunities in the technology sector.

Sancode Technologies Limited has secured a major regulatory milestone for its semiconductor expansion plans, with its subsidiary receiving government approval for a substantial manufacturing project in Odisha.

Government Approval Details

Sancode Semi Private Limited, a subsidiary of Sancode Technologies Limited, has received in-principal approval from the High-Level Clearance Authority (HLCA) of the Odisha State Government for establishing an OSAT (Outsourced Semiconductor Assembly and Test) Unit. The facility will be located in Khordha district in the state of Odisha.

Investment and Financial Commitment

The proposed OSAT project involves a total capital expenditure of approximately ₹1,650 crore, which will be incurred over the project implementation period. This substantial investment underscores the company's commitment to expanding its presence in the semiconductor manufacturing sector.

Regulatory Compliance Requirements

The approval has been granted subject to specific conditions that must be fulfilled by the company:

• Compliance with standard conditions mentioned in the approval documents
• Obtaining applicable statutory approvals and clearances
• Securing necessary regulatory permissions
• Meeting other required approvals as specified by authorities

Strategic Significance

This project represents a significant milestone in Sancode Technologies' strategic expansion into the semiconductor manufacturing ecosystem. The initiative aligns with the Government of Odisha's broader objectives aimed at strengthening domestic semiconductor manufacturing capabilities and developing related infrastructure within the state.

The company disclosed this information in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, providing stakeholders with updates on the current project status. The announcement was made on February 2nd, 2026, and signed by Managing Director Mihir Deepak Vora.