Key Decisions Approved
The Board of Directors meeting commenced at 04:00 PM and concluded at 07:30 PM on Tuesday, June 23, 2026. The following key decisions were approved:
1. Preferential Issue of Equity Shares
- Approval for raising funds through issue and allotment of up to 1,51,49,079 (One Crore Fifty One Lakhs Forty Nine Thousand Seventy Nine) Equity Shares
- Face Value: ₹5 per share
- Issue Price: ₹14.33 per share (including Premium of ₹9.33 per share)
- Total Fundraising: ₹21,70,86,305 (Rupees Twenty One Crore Seventy Lakhs Eighty-Six Thousand Three Hundred Five)
- Investors: Non-Promoter category only
- Pricing determined in accordance with Regulation 164 of SEBI ICDR Regulations
- Subject to approval of regulatory/statutory authorities and shareholders at EGM
2. Preferential Issue of Convertible Warrants
- Approval for raising funds through issue and allotment of up to 38,38,102 (Thirty Eight Lakhs Thirty-Eight Thousand One Hundred Two) Share Warrants
- Each warrant convertible into 1 Equity Share of Face Value ₹5
- Issue Price: ₹14.33 per warrant (including Premium of ₹9.33 per warrant)
- Total Fundraising: ₹5,50,00,000 (Rupees Five Crore Fifty Lakhs)
- Investors: Both Promoter and Non-Promoter categories
- Conversion period: Within 18 months from date of allotment
- Conversion can be exercised in one or more tranches
- Full payment required before conversion exercise
- Subject to approval of regulatory/statutory authorities and shareholders at EGM
Investor Details
Equity Share Allottees (Annexure A):
- 98 non-promoter investors
- Major investors include: Veloce Opportunities Fund II (24,42,428 shares, ₹3.5 crore), Veloce Innovations LLP (20,93,510 shares, ₹3 crore), Bridge India Fund (20,93,510 shares, ₹3 crore)
- Total investment: ₹21,70,86,305
Warrant Allottees (Annexure B):
- 8 investors (4 promoters, 4 non-promoters)
- Promoter allotment: Rajinder Kaul (4,77,467 warrants, ₹68.42 lakh), Ravinder Bhan (3,27,947 warrants, ₹46.99 lakh), Arun Kaul (3,27,928 warrants, ₹46.99 lakh), Sanjay Verma (2,62,332 warrants, ₹37.59 lakh)
- Non-promoter allotment: Aari Ventures (6,97,837 warrants, ₹1 crore), Apurva Anil Sharma (6,97,837 warrants, ₹1 crore), Areyan R Lulla (6,97,837 warrants, ₹1 crore), Nikhil Santosh Oswal (3,48,918 warrants, ₹50 lakh)
- Total investment: ₹5,50,00,000
Extraordinary General Meeting Arrangements
- EGM scheduled for Friday, July 17, 2026, through VC/OAVM
- Cut-off date for determining voting eligibility: Friday, July 10, 2026
- Shareholders holding shares as of close of business on July 10, 2026, will be eligible to vote
- Notice of EGM will be sent separately to Stock Exchanges and members
- EGM notice will be available on company website (www.sharikaindia.com) and BSE website (www.bseindia.com)
Scrutinizer Appointment
- M/s. Mihen Halani & Associates, Practicing Company Secretaries, appointed as Scrutinizer
- Responsible for scrutinizing the e-voting process in fair and transparent manner
Contingency Provision
In event of any disqualification, the Board may consider and approve designation of another investor from the existing investor group, subject to necessary approvals and compliance with applicable laws and regulations.