Disclosure of board meeting outcomes regarding a preferential issue of convertible warrants, filed under Regulation 30 of SEBI Listing Regulations, 2015.
Board Meeting Details
- Meeting held on Wednesday, October 14, 2026
- Commenced at 5:40 PM and concluded at 6:30 PM
Preferential Issue Approval
The Board of Directors approved:
- Issue and allotment of up to 1,00,00,000 (One Crore) Fully Convertible Warrants
- Each warrant carries right to subscribe to one Equity Share of face value ₹2
- Issue price: ₹106 per warrant
- Total issue size: Up to ₹1,06,00,00,000 (One Hundred and Six Crores)
- Issued to Non-Promoter category on preferential basis
- Consideration: Cash
- Subject to shareholder and regulatory approvals
Allottee Details
| S. No. | Name of Proposed Allottee | Category | No. of Warrants |
| 1 | Mahesh Kumar | Non-Promoter | 42,00,000 |
| 2 | SGS Fintech Private Limited | Non-Promoter | 33,00,000 |
| 3 | Open Advanced Technologies LLP | Non-Promoter | 25,00,000 |
| Total | | | 1,00,00,000 |
Warrant Conversion Terms
- Warrants convertible into equivalent number of Equity Shares
- Face value: ₹2 per share
- Maximum conversion period: 18 months from date of allotment
Additional Board Decisions
- Constituted a Share Issue Committee to handle all necessary actions and document approvals
- Approved draft notice for Extra-Ordinary General Meeting (EGM)
- EGM scheduled for Friday, November 6, 2026 to seek shareholder approval
Additional Information
- Information available on company website: https://smcindiaonline.com
- Signed by Suman Kumar, E.V.P. (Corporate Affairs & Legal), Company Secretary & General Counsel