Sunita Tools Limited has proposed to raise ₹69.86 crore through a preferential issue of 8,73,282 convertible warrants at ₹800 each to non-promoter investors. The company has scheduled an Extraordinary General Meeting (EGM) on December 6, 2025 to obtain shareholder approval for this fundraise and related resolutions.
Key Details of the Warrant Issue
- Number of Warrants: 8,73,282 (each convertible into 1 equity share)
- Issue Price: ₹800 per warrant
- Category: Non-promoter investors (public)
- Purpose: Debt repayment, machinery purchase, and general corporate purposes
Proposed Utilization of Funds
| Purpose | Amount (₹ crore) | % of Total Proceeds |
| Debt Repayment | 7.00 | 10.02% |
| Machinery Purchase for Artillery Shell Manufacturing | 45.67 | 65.37% |
| General Corporate Purposes | 17.19 | 24.61% |
| Total | 69.86 | 100% |
Impact on Shareholding
| Category | Pre-Issue Shareholding | Post-Issue Shareholding (if fully converted) |
| Promoters & Promoter Group | 62.75% | 55.09% |
| Non-Promoters / Public | 37.25% | 44.91% |
The issuance will increase public shareholding and dilute promoter holdings moderately.
Proposed Increase in Authorized Share Capital
- From ₹7 crore to ₹8 crore by adding 10 lakh equity shares of ₹10 each.
Key Allottees
- Anil Yadav: 5,30,870 warrants
- Shruti Agrawal: 90,000 warrants
- Rashi Fincorp Ltd: 65,000 warrants
- Avarjit Singh Birghi: 50,000 warrants
- Sarabpreet Kaur: 50,000 warrants
EGM Details
- Date & Time: December 6, 2025, at 1:00 PM IST
- Mode: Video conferencing
- Remote e-Voting: December 2-5, 2025
Summary
Sunita Tools’ proposed ₹69.86 crore warrant issue aims to strengthen its capital base, fund critical machinery purchases for artillery shell manufacturing, and repay existing debt. The move will enhance public shareholding while maintaining strategic promoter control. Shareholder approval through the EGM is crucial for implementation.
Disclaimer:
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