SMC Global Securities approves a warrant issue of up to ₹106 crore to three non-promoter investors

SMC Global Securities Limited has told the exchanges that its board, at a meeting on 14 Oct 2026 that ran from 5:40 PM to 6:30 PM, approved the issue of up to 1,00,00,000 fully convertible warrants on a preferential basis to non-promoter investors, at an issue price of ₹106 per warrant. The total is up to ₹106 crore, for cash, and is subject to approval by members and the regulators.

Each warrant carries the right to subscribe to one equity share of ₹2 face value. The proposed allottees are Mahesh Kumar, for up to 42,00,000 warrants, SGS Fintech Private Limited, for up to 33,00,000, and Open Advanced Technologies LLP, for up to 25,00,000. The price was set under the SEBI issue regulations for preferential issues.

The board also set up a Share Issue Committee for the issue and approved the notice for an Extraordinary General Meeting on Friday, 6 Nov 2026, to seek the members’ approval.

Inference

A warrant gives its holder the right, not the duty, to buy shares later at a fixed price. If all the warrants are converted, the company would have 1 crore more shares, which would dilute the holdings of existing shareholders.

The issue cannot go ahead without the members’ approval at the meeting on 6 Nov 2026. The filing does not say how much of the price is paid upfront or when the warrants may be converted.