Approval Details
- Approval Date: August 14, 2026
- Approval Reference: LOD/RIGHT/RB/FIP/665/2026-27
- Approving Authority: BSE Limited
- Approval Type: In-principle approval for proposed rights issue of fully paid-up equity shares
- Application Date: June 11, 2026 (original application date)
Key Requirements and Conditions
Disclaimer Clause Requirements
BSE requires the company to include specific disclaimer language in all documents:
- Full disclaimer must be printed in the Letter of Offer after SEBI's disclaimer clause
- Abbreviated disclaimer must be used in all advertisements mentioning BSE
- The disclaimer clarifies that BSE does not warrant, certify, or endorse the correctness or completeness of the offer document
- BSE does not warrant that securities will be listed or continue to be listed
- BSE takes no responsibility for the financial soundness of the company, its promoters, or management
Record Date and Pricing Requirements
- Company must fix a record date for the rights issue
- At least three working days' advance notice must be given to BSE before the record date
- Rights issue price must be disclosed and intimated to the exchange at least 3 working days prior to the record date
Post-Approval Compliance Requirements
- Company must complete all legal and statutory formalities before finalizing offer documents
- Company is solely responsible for disclosures made in or omitted from offer documents
- Company must complete post-issue requirements and comply with necessary statutory, legal & listing formalities
- Company must confirm completion of posting of letter of offer & composite application form
- Company must have agreements with all depositories for dematerialization of securities
- Investors must be given option to receive allotment in dematerialized form
- Basis of Allotment must be approved by Designated Stock Exchange, even in case of under-subscription
- Qualified Company Secretary must be appointed as Compliance officer as per Regulation 6(1) of SEBI LODR
- Company must pay all applicable charges for usage of exchange systems and software
- Company must comply with Sections 186 and 188 of Companies Act, 2013 and Regulation 23 of SEBI LODR before filing listing application
- Company must procure Secretarial Auditor certificate confirming ODI compliance before filing listing application
Signatories and Company Information
From Esaar India: Bipin D Varma, Whole-Time Director (DIN: 05353685)
From BSE: Janardhan Wagle (Deputy Vice President) and Karan Shah (Deputy Manager)
Company Registration: CIN: L67120MH1951PLC222871
Corporate Office: 101, 1st Floor, Western Edge 1, Western Express Highway, Borivali (East), Mumbai - 400 066