Legends Global Files SEBI Disclosure for Sobhagya Mercantile Warrant Allotment
Sobhagya Mercantile Limited completed significant capital raising through allotment of 13,48,500 convertible warrants and 3,00,000 equity shares to non-promoter investors. Legends Global Opportunities (Singapore) Pte. Ltd. filed mandatory SEBI disclosure for its 6,50,500 warrant allotment representing 6.67% diluted shareholding, while Dovetail India Fund-Class 22 simultaneously converted warrants to equity shares for Rs. 20.23 crore.
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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.
| Allottee: | Category | Warrants Allotted |
|---|---|---|
| Legends Global Opportunities (Singapore) Pte. Limited | Non-Promoter | 6,50,500 |
| Venus Investments VCC- Venus Stellar Fund | Non-Promoter | 3,98,000 |
| Dovetail India Fund-Class 22 | Non-Promoter | 3,00,000 |
| Total | 13,48,500 |
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.
| Parameter: | Details |
|---|---|
| Warrants Allotted | 6,50,500 |
| Face Value per Warrant | Rs. 10.00 |
| Premium per Warrant | Rs. 664.49 |
| Diluted Shareholding | 6.67% |
| Filing Date | March 13, 2026 |
| Allotment Date | March 11, 2026 |
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.
| Parameter: | Details |
|---|---|
| Allottee | Dovetail India Fund-Class 22 |
| Equity Shares Allotted | 3,00,000 |
| Issue Price per Share | Rs. 674.49 |
| Face Value per Share | Rs. 10.00 |
| Premium per Share | Rs. 664.49 |
| Total Consideration | Rs. 20,23,47,000 |
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.
Historical Stock Returns for Sobhagya Mercantile
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.90% | +9.35% | +2.86% | -10.67% | +133.35% | +84,488.54% |
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