Approval Details

  • Approving Authority: BSE Limited
  • Approval Reference: LOD/PREF/TT/FIP/291/2026-27
  • Approval Date: June 01, 2026
  • Type of Approval: In-principle approval under Regulation 28(1) of SEBI (LODR) Regulations, 2015

Share Issue Details

  • Number of Shares: 32,00,000 equity shares
  • Face Value: Rs. 10.00 per share
  • Issue Price: Not less than Rs. 28.20 per share
  • Allottee Category: Non-promoters
  • Issue Type: Preferential basis

Regulatory Compliance Requirements

The approval is subject to compliance with:

  • Companies Act, 2013
  • Securities Contracts (Regulation) Act, 1956
  • SEBI Act, 1992
  • Depositories Act, 1996
  • Chapter V of SEBI (ICDR) Regulations, 2018
  • SEBI (LODR) Regulations, 2015
  • Listing Agreement with BSE
  • Other statutory approvals as required

Specific Advisory from BSE

Internal Controls Requirements:

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

Post-Allotment Requirements:

  • Must make listing application without delay with applicable fees under Regulation 14 of LODR Regulations
  • Must apply for listing within 20 days from 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

Important Conditions

  • This in-principle approval does not constitute approval for listing of the securities
  • BSE reserves right to withdraw approval if information submitted is found incomplete/incorrect/misleading/false or if it contravenes any rules, regulations, or guidelines
  • For convertible securities, depositories will automatically release excess lock-in period of pre-preferential holding without requiring NOC from Exchange