SPARC Strikes Gold: Board Unleashes Rs 600 Cr Warrants, Ignites ESOP Revolution

Sun Pharma Advanced Research Company Limited's board approved a preferential issue of up to 3.85 crore convertible warrants worth nearly Rs 600 crore to promoter group entity Shanghvi Finance Private Limited on January 14, 2026. The meeting also adopted the SPARC Employees Stock Option Scheme 2026 and scheduled an EGM on February 9 for shareholder nod. This strategic fundraising aims to bolster the clinical-stage biopharma's pipeline amid ongoing R&D efforts.

• Up to 3,85,10,000 warrants at Rs 155.80 each, aggregating Rs 599.98 crore
• 25% upfront subscription at Rs 38.95 per warrant; balance on conversion within 18 months
• Shanghvi Finance Private Limited (promoter group) to receive all; pre-issue holding 42.28%, post-conversion 48.40%
• Warrants lapse if unexercised; compliant with Companies Act, SEBI ICDR norms
• SPARC ESOP 2026 covers employees of company, subsidiaries, holding, associates
• EGM on February 9, 2026 via VC/OAVM for approvals from BSE, NSE, ROC Ahmedabad