Sheetal Cool Products Limited shareholders have unanimously approved the preferential issue of convertible warrants worth ₹26.68 crore at the Extraordinary General Meeting held on February 05, 2026. The resolution received 100% approval from shareholders who participated in the e-voting process, with 74,61,730 votes cast in favor and zero votes against the proposal.

EGM Voting Results

The voting results disclosed under Regulation 44 of SEBI LODR Regulations demonstrate strong shareholder support for the warrant issue:

The e-voting process was conducted from February 02, 2026 to February 04, 2026, with the cut-off date for eligible shareholders being January 29, 2026. A total of 30 members participated in the remote e-voting process, representing 71.06% of the total outstanding shares.

Approved Warrant Issue Details

The shareholders approved the issuance of convertible warrants to non-promoter entities with the following specifications:

Fund Utilization Strategy

The proceeds from the warrant issue will be deployed across strategic business expansion initiatives:

Regulatory Compliance and Documentation

Nayan Pitroda of M/s Pitroda Nayan & Co., Company Secretaries, served as the scrutinizer for the e-voting process. The scrutinizer's report confirmed the validity of all votes cast and the unanimous approval of the resolution. The voting results were disclosed to BSE Limited and National Stock Exchange of India Limited on February 06, 2026, in compliance with regulatory requirements.

The approved warrant issue represents a significant step in the company's expansion strategy, with the unanimous shareholder approval providing a strong mandate for management to proceed with the fundraising initiative.

Sheetal Cool Products Limited has announced an Extraordinary General Meeting (EGM) scheduled for February 05, 2026, at 12:00 PM through video conferencing to seek shareholder approval for a significant warrant issuance. The company aims to raise ₹26.63 crores through the issuance of 8,40,000 fully convertible warrants to non-promoters.

Warrant Issuance Details

The proposed warrant issuance represents a strategic capital raising initiative by Sheetal Cool Products Limited. The company plans to issue the warrants through preferential allotment on a private placement basis to non-promoter investors.

Fund Utilization Strategy

The proceeds from the warrant issuance will be strategically deployed across two key business expansion areas. The company has outlined specific allocation plans to enhance its market presence and operational capabilities.

Warrant Terms and Conditions

The fully convertible warrants come with specific terms designed to provide flexibility to investors while ensuring commitment to the company's growth plans. Each warrant entitles the holder to apply for and obtain allotment of one equity share during the exercise period.

Key features of the warrant structure include:

• Upfront Payment: 25% of the issue price required at allotment
• Balance Payment: 75% payable upon conversion to equity shares
• Exercise Window: Any time within 18 months from allotment date
• Lock-in Period: As prescribed under Chapter V of ICDR Regulations
• Dematerialized Form: All warrants and resulting equity shares in demat form only

EGM Logistics and Voting Process

The EGM will be conducted entirely through video conferencing in compliance with regulatory guidelines. Shareholders can participate in remote e-voting from February 02, 2026, at 9:00 AM until February 04, 2026, at 5:00 PM.

Proposed Allottee Details

The warrant issuance targets specific non-promoter investors who have expressed interest in subscribing to the offering. The primary allottee is Orbit Financial Capital, a partnership firm, along with individual investors.

Shareholding Impact

Upon full conversion of the warrants, the company's paid-up share capital will increase from 1,05,00,000 equity shares to 1,13,40,000 equity shares. The promoter holding will decrease from 65.59% to 60.735%, while public shareholding will increase from 34.41% to 39.265%.

The warrant issuance is priced at ₹317.00 per warrant, which is higher than the minimum price calculated according to SEBI ICDR Regulations. The relevant date for pricing determination is January 06, 2026, being 30 days prior to the EGM date. The company has obtained necessary approvals from its Board of Directors on January 07, 2026, and the proposal now awaits shareholder approval through the special resolution.