SPARC allots 35 crore warrants worth nearly Rs 600 crore to Dilip Shanghvi-linked SFPL at ₹155.8 each

Sun Pharma Advanced Research Company Ltd (SPARC) has approved the allotment of 3,85,10,000 warrants on a preferential basis to Shanghvi Finance Private Limited (SFPL) at an issue price of ₹155.80 per warrant, according to an exchange filing dated May 19, 2026.

The Securities Allotment Committee of the company approved the allotment following approvals from the board and shareholders earlier this year, along with in-principle approvals received from BSE and NSE.

SPARC said the company has received ₹149.99 crore from the allottee, equivalent to 25% of the warrant issue price, in line with SEBI ICDR Regulations. Each warrant will be convertible into one fully paid-up equity share of face value ₹1.

The company clarified that there will be no immediate change in the paid-up equity share capital upon allotment of the warrants, though the equity capital will increase upon conversion of the warrants into shares.

Shanghvi Finance Private Limited is an unlisted private company incorporated in August 1989 and primarily functions as a Core Investment Company (CIC) for the Dilip Shanghvi group. Dilip S. Shanghvi, founder of Sun Pharmaceutical Industries, holds a 98.28% stake in the company.

Disclaimer: This article is based on the company’s exchange filing and related disclosures. It does not constitute investment advice.