Key Quantitative Figures
- Number of warrants: 6,00,00,000 (6 crore)
- Face value: Re. 1/- per warrant
- Conversion ratio: 1 warrant convertible into 1 equity share
- Issue price: Not less than ₹164 per warrant
- Total potential equity shares upon conversion: 6,00,00,000 shares
Parties Involved
- Issuer: Abhinav Leasing and Finance Limited
- Regulatory authority: Bombay Stock Exchange (BSE)
- Allottees: Non-promoter entities
Conditions and Requirements
- The in-principle approval does not constitute final listing approval
- Company must comply with all applicable laws and regulations including Companies Act, SEBI Acts, ICDR Regulations, and LODR Regulations
- Company must strengthen internal controls to monitor trades by proposed allottees
- Must obtain undertakings from allottees confirming they will not do intra-day trading or any sale in the company scrip until allotment date
- Company bears sole responsibility for verification and compliance with Regulation 167(6) of SEBI ICDR regulations
- Listing application must be made without delay after allotment with applicable fees under Regulation 14 of LODR Regulations
- Application for listing must be made within 20 days from date of allotment as per SEBI circular dated June 21, 2023
- Non-compliance may result in fines and impact listing of shares
- BSE reserves right to withdraw approval if information is found incomplete/incorrect/misleading/false or if regulations are contravened
Additional Information
- For convertible securities, depositories will automatically release excess lock-in period of pre-preferential holding without requiring NOC from Exchange
- The company is advised to download listing application and checklist from BSE website
Financial Impact
Potential equity dilution of 6,00,00,000 shares upon full conversion of warrants. Financial impact not quantified in the disclosure.