Sun Pharma Advanced Research Company Limited (SPARC) announced on January 14, 2026, that its Board of Directors has approved a preferential issue of up to 3,85,10,000 convertible warrants to Shanghvi Finance Private Limited, a member of the promoter group. Each warrant is convertible into one fully paid-up equity share and is priced at ₹155.80 per warrant. The total issue size aggregates to approximately ₹5,99,98,58,000 (₹599.98 Crores). Upon allotment, the Warrant Holder will pay ₹38.95 per warrant as a subscription price, with the balance of ₹116.85 per warrant payable upon exercise. The warrants must be exercised within 18 months of allotment, failing which they will lapse and the subscription price will be forfeited.

Furthermore, the Board has approved the formulation, adoption, and implementation of the SPARC Employees Stock Option Scheme 2026 (ESOP Scheme 2026). Under this scheme, stock options can be granted aggregating 50,00,000 equity shares of ₹1 face value each, subject to member approval. The options will vest between one and four years from the grant date and can be exercised within one year of vesting.

To obtain member approval for both the warrants issue and the ESOP scheme, the Company will convene an Extra-Ordinary General Meeting (EGM) on Monday, February 9, 2026, through video conferencing. The board meeting was held on January 14, 2026, from 06:45 PM to 07:15 PM IST.