Sancode Technologies Limited conducted an Extra Ordinary General Meeting (EGM) on August 19, 2025, addressing key corporate actions that could potentially impact the company's capital structure and future growth plans.

Meeting Details

The EGM was held at the company's registered office in Mumbai, commencing at 1:00 PM and concluding at 3:00 PM. Managing Director Mihir Deepak Vora chaired the meeting, which focused on two significant agenda items:

1. Increasing the authorized share capital of the company
2. Approving the issuance of 11,11,111 convertible warrants on a preferential basis for cash consideration

Voting Process

To ensure shareholder participation, Sancode Technologies provided remote e-voting facilities through Bigshare Services Private Limited. The e-voting period was open from August 16, 2025, at 9:00 AM to August 18, 2025, at 5:00 PM. Additionally, eligible shareholders who had not participated in e-voting were given the opportunity to cast their votes using ballot papers at the meeting venue.

Agenda Items

The EGM addressed two special business items:

1. Increase in Authorized Share Capital

The company proposed to increase its authorized share capital, which could potentially allow for future expansion and capital raising activities.

2. Issuance of Convertible Warrants

Shareholders were asked to consider and approve the issuance of 11,11,111 convertible warrants on a preferential basis for cash consideration. This move could provide the company with additional funds and potentially lead to an increase in equity capital upon conversion.

Next Steps

The results of the voting on these crucial agenda items will be announced through notifications to the stock exchange and will also be made available on the company's website. These outcomes could have significant implications for Sancode Technologies' financial structure and future strategic initiatives.

Investors and stakeholders are advised to keep an eye on the company's official communications for the detailed voting results and any subsequent corporate actions that may follow this EGM.

Sancode Technologies Limited continues to navigate its growth trajectory in the technology sector. The outcomes of this EGM may provide insights into the company's expansion plans and capital management strategies.

Sancode Technologies Limited , a company listed on the BSE SME Platform, has announced significant changes to its share capital structure and plans for a preferential issue of convertible warrants. The company's board of directors approved these proposals in a meeting held on July 24, 2025.

Authorized Share Capital Increase

The board has given the green light to increase the company's authorized share capital from Rs. 4.50 crore to Rs. 6.50 crore. This will be achieved by adding 20 lakh new equity shares with a face value of Rs. 10 each. The revised structure will consist of:

• 64,00,000 Equity Shares of Rs. 10 each, totaling Rs. 6.40 crore
• 1,00,000 Compulsorily Convertible Preference Shares of Rs. 10 each, totaling Rs. 0.10 crore

Convertible Warrant Issue

In addition to the share capital increase, Sancode Technologies has approved the issuance of 11,11,111 convertible share warrants on a preferential basis. The warrants will be priced at Rs. 54 per warrant, which includes a premium of Rs. 44. This move is expected to raise a total of Rs. 6.00 crore for the company.

The warrants will be allocated as follows:

Key Details of the Warrant Issue

• Each warrant is convertible into one equity share within 18 months from the date of allotment.
• Investors are required to pay 25% of the warrant price upfront at the time of application.
• The remaining 75% is due upon conversion of the warrants into equity shares.
• The conversion can be exercised in one or more tranches within the stipulated period.
• If not exercised within 18 months, the warrants will lapse.

Shareholder Approval and EGM

These proposals are subject to shareholder approval, which will be sought at an Extraordinary General Meeting (EGM) scheduled for August 19, 2025, at 1:00 PM. The meeting will be held at the company's registered office.

Additional Board Decisions

The board has also appointed Dilip Swarnkar & Associates as the scrutinizer for overseeing the voting process and issuing the Scrutinizer Report to the company.

The board meeting, which took place on July 24, 2025, commenced at 7:15 PM IST and concluded at 8:00 PM IST.

These strategic moves by Sancode Technologies are aimed at strengthening the company's capital structure and potentially funding future growth initiatives. Shareholders and investors will be keenly watching the outcome of the upcoming EGM and the subsequent implementation of these proposals.