Date: 27th May, 2026

Board Meeting Outcomes

  • The company has received In-Principle approval from National Stock Exchange of India Limited and BSE Limited for issue and allotment of up to 93,16,771 (Ninety Three Lakhs Sixteen Thousand Seven Hundred Seventy One) Equity Shares on a preferential basis
  • The approval was received via NSE letter no. NSE/LIST/54897 and BSE letter no. LOD/PREF/DA/FIP/292/2026-27 on 27th May 2026

Fundraising / Financing Details

  • Type of Issue: Preferential allotment
  • Number of Shares: 93,16,771 Equity Shares
  • Face Value: Re. 1/- per share
  • Issue Price: ₹483 per Equity Share (including a premium of ₹482 per share)
  • Total Potential Proceeds: Approximately ₹450 crore (93,16,771 shares × ₹483)
  • Allottees: To be issued to promoters and non-promoters (as mentioned in BSE letter)

Regulatory Conditions & Compliance Requirements

NSE Conditions:

  • Filing the listing application at the earliest from the date of allotment
  • Receipt of statutory and other approvals from SEBI, RBI, MCA, etc.
  • Compliance with all applicable guidelines, regulations, and directions of the Exchange or any statutory authorities
  • Compliance of all conditions as per SEBI (LODR) Regulations, 2015, Companies Act, and other applicable laws
  • Submission of documents as required by NSE and payment of applicable fees

BSE Conditions:

  • Issue and allotment must comply with Companies Act, 2013, SCRA, SEBI Act, Depositories Act, and their respective Rules and Regulations
  • Compliance with Chapter V of SEBI (ICDR) Regulations, 2018
  • Compliance with SEBI (LODR) Regulations, 2015
  • Obtaining all required statutory approvals

Trading Restrictions for Allottees:

  • The company must strengthen internal controls to monitor trades by proposed allottees
  • Company must obtain undertaking from allottees confirming they will not do intra-day trading or any sale in the company scrip until the allotment date
  • Responsibility solely on the issuer company to verify and ensure compliance with Regulation 167(6) of SEBI ICDR regulations, 2018
  • Any non-compliances may impact the listing of such shares

Post-Allotment Requirements:

  • Listing application must be made within 20 days from the date of allotment as per SEBI circular no. SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023
  • Non-compliance with listing application timeline will attract fines as specified in the SEBI circular
  • For convertible securities, depositories will automatically release excess lock-in period of Pre-Preferential Holding without requiring NOC from Exchange

Reservations and Limitations

  • The in-principle approval should not be construed as approval under any other Act/Regulation/rule/bye laws
  • The approval does not constitute final listing approval
  • Exchange reserves the right to withdraw approval if information submitted is found incomplete/incorrect/misleading/false or in contravention of any regulations

Not Specified Sections

KMP / Board / Auditor Changes: Not specified

Dividend Declaration or Non-Declaration: Not specified

Financial Results: Not specified

Auditor's Report: Not specified

Disinvestment / Strategic Actions: Not specified

Media Release / Investor Communication: Not specified

Other Operational / Legal / Strategic Disclosures: Not specified