The approval grants permission for listing of 86,95,000 Equity Shares of face value ₹10 each issued at a premium of ₹21.25 per share (total issue price of ₹31.25 per share). These shares were issued on a preferential basis to Non-Promoters pursuant to the conversion of warrants. The distinctive numbers of these shares range from 60741949 to 69436948.
The company must ensure compliance with Regulation 167 of SEBI (ICDR) Regulations and any subsequent specifications by SEBI. Additionally, if there is any change exceeding 2% of the total paid-up share capital, the company must file the shareholding pattern in XBRL mode as required under Regulation 31(1)(c) of SEBI LODR Regulations, 2015.
Trading approval for these shares will be granted only after the company submits:
- Listing approval from National Stock Exchange of India Ltd (if applicable)
- Confirmation letters from NSDL/CDSL about crediting the shares to beneficiary accounts
- Confirmation letters from NSDL/CDSL about lock-in of pre-preferential holding (if applicable)
As per SEBI circular no. SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023, the company must apply for trading approval to the stock exchanges within seven working days from the date of grant of listing approval. Non-compliance with this requirement will attract fines as specified in the SEBI circular.