A ₹50 Crore Vote of Confidence, Pending Shareholder Approval
The infusion of fresh capital is usually seen as a sign of a company’s next stage of growth. Sun Drops Energia Limited, which is a part of Surat-based KP Group has convened an Extraordinary General Meeting (EGM) to seek approval for issuing preference equity capital worth almost Rs 50 crore. This will be issued to one non-promoter investor S K A Dairy Foods India Private Limited.
Here is a clear breakdown of the numbers, the pricing, and what changes for existing shareholders. For more company updates, visit Dhan Kirti.
EGM at a Glance
Date and time: Thursday, November 26, 2026, at 10:00 A.M. IST
Venue: Registered office, KP House, Near KP Circle, Opp. Ishwar Farm Junction BRTS, Canal Road, Bhatar, Surat, Gujarat
Meeting: EGM (03/2026-27)
Agenda: A single special resolution approving the issue of equity shares on a private placement basis
Board approval: November 4, 2026
The Deal Terms
Particular | Details |
|---|---|
Shares to be issued | Up to 12,28,500 equity shares |
Face value | ₹5 per share |
Issue price | ₹407 per share (₹402 premium) |
Total amount | Up to ₹49,99,99,500 |
Proposed allottee | S K A Dairy Foods India Private Limited (non-promoter) |
Payment | 100% in cash at the time of allotment |
Pricing relevant date | March 31, 2026 |
How the ₹407 Price Was Set
The price has been arrived at based on the Independent Valuation Report dated October 23, 2026, issued by Mr. Manish Rathi an IBBI registered valuer. In the previous round this financial year, 14,04,835 Compulsorily Convertible Preference Shares (CCPS) were allotted to 41 persons at a price of ₹351.02 per share. This price is approximately 16% higher.
Where the Money Will Go
The explanatory statement lists four uses for the proceeds:
Capital expenditure
Working capital requirements
Repayment of debt
General corporate purposes
The notice does not give a breakdown across these heads, so any split would be decided by the company.
What Changes for Shareholders
On a fully diluted basis (including the CCPS), total shares would rise from 8,81,36,207 to 8,93,64,707, a dilution of about 1.4% for existing holders.
Category | Pre-issue | Post-issue |
|---|---|---|
Promoters | 77.89% | 76.82% |
Institutional investors | 1.43% | 1.41% |
Private corporate bodies | 3.59% | 4.91% |
Indian public | 16.26% | 16.04% |
Others (incl. NRIs) | 0.83% | 0.81% |
Share allotment to promoters remains unchanged at 6,86,51,08. The decrease in promoters’ percentage is on account of increase in total number of shares. Further, it has been confirmed that there will be no change of control and promoters/directors/key managerial personnel will not subscribe any shares.
Key Conditions
The allotment should be made within 12 months from the special resolution.
The new shares must be issued as demat shares within 60 days from the receipt of application money.
New shares will have the same status as the existing shares for dividend and voting.
The valuation report shall be available for inspection at the registered office between 10.00 am to 4.00 pm on working days.
For Shareholders Planning to Attend
Members may nominate proxies (not necessarily members). The proxy form MGT-11 must be properly stamped, signed & lodged at the registered office at least 48 hrs prior to the meeting. Bring your attendance slip and a copy of the notice.
The Bottom Line
The overall size of the preferential issue is small when measured against the company's capital base, however it provides a new investor and will help with growth and reducing debt. The main things to note are shareholder approval on 26th November, allotment and the use of the funds.
If you track pre-IPO and unlisted companies, view the Sun Drops Energia unlisted shares page or explore more companies in the shares section on Dhan Kirti.
Disclaimer: This article is for informational purposes only and is not investment advice. The issue is subject to shareholder and regulatory approvals. Unlisted share prices are indicative and carry risks such as illiquidity. Please consult a SEBI-registered advisor before investing.
Frequently Asked Questions (FAQs)
1. When will the Sun Drops Energia EGM be held?
The company will hold an EGM at its registered office in Surat on Thursday, November 26, 2026, at 10:00 A.M. IST.
2. What is the amount being raised by Sun Drops Energia?
Through the issuance of up to 12,28,500 equity shares, the company will raise up to ₹49,99,99,500 (Approximately ₹50 crore).
3. What is the Issue Price?
The price per share is ₹407. This price includes a premium of ₹402 per share. The face value of each share is ₹5.
4. To whom will the shares be issued?
The shares will be issued to S K A Dairy Foods India Private Limited (Non.promoter investor).
5. For what will the money be used?
The proceeds will be used for Capital Expenditure, Working Capital, Repayment of Debt.
6. Will promoters lose their control?
No. The company has mentioned that there will be no change in control. Promoter’s shareholding has been reduced from 77.89% to 76.82% due to increase in total number of shares.
7. What percentage will the new investor hold?
Approximately 1.37% post issue, fully diluted basis.
8. Where can I find Sun Drops Energia on Dhan Kirti?
Visit the Sun Drops Energia unlisted shares page or the shares section.
