Beryl Securities Ltd

Key Approval Details

The company received in-principle approval from BSE Limited for the issue of 12,95,635 (Twelve Lakh Ninety-Five Thousand Six Hundred and Thirty-Five) equity shares of ₹10 each at a price not less than ₹23 per share. The approval was granted to both promoters and non-promoters on a preferential basis.

Compliance Requirements and Conditions

The in-principle approval is not to be construed as final approval for listing of the securities. The company must ensure strict compliance with:

  • Companies Act, 2013
  • Securities Contracts (Regulation) Act, 1956
  • Securities and Exchange Board of India Act, 1992
  • Depositories Act, 1996
  • Chapter V of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (ICDR Regulations)
  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR Regulations)
  • Listing Agreement with the exchange

Specific Compliance Instructions

The company is advised to strengthen internal controls to monitor trades executed by proposed allottees in the company's scrip. Specific requirements include:

  • Obtaining undertakings from allottees confirming they will not do intra-day trading in the company's scrip
  • Ensuring allottees do not sell any shares in the company's scrip until the allotment date
  • The responsibility for verification and compliance rests solely with the issuer company
  • Any non-compliances observed post-undertaking may impact the listing of such shares

Post-Allotment Requirements

Upon allotment of securities, the company must:

  • Make a listing application without delay with applicable fees under Regulation 14 of LODR Regulations
  • Comply with all post-issue formalities
  • Submit the listing application within twenty days from the date of allotment as per Schedule XIX - Para (2) of ICDR Regulations and SEBI circular no. SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023
  • Non-compliance with the 20-day requirement will attract fines as specified in the SEBI circular

Reservation of Rights

The exchange reserves the right to withdraw this in-principle approval at any stage if submitted information is found to be incomplete, incorrect, misleading, false, or if it contravenes any rules, bye-laws, regulations of the exchange, LODR Regulations, ICDR Regulations, and guidelines/regulations issued by any statutory authorities.