Date: 25th August, 2026

Board Meeting Outcomes

Iris Clothings Limited has received in-principle approval from the National Stock Exchange of India Limited (NSE) for a preferential issue of equity shares. The approval was granted vide Reference No. NSE/LIST/56277 dated 25th August, 2026.

Fundraising Details

  • Issue of 77,08,183 Equity Shares of face value ₹2 each
  • Issued on preferential basis to Non-Promoters Category
  • Issue price: ₹41.67 per Equity Share
  • Non-cash consideration aggregating ₹32,12,00,000 (Rupees Thirty Two Crores Twelve Lakhs Only)
  • Approved under Regulation 28(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Conditions for Approval

The in-principle approval is subject to the company fulfilling the following 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 statutory authorities
  • Compliance with SEBI (LODR) Regulations, 2015, Companies Act, and other applicable laws as on date of listing
  • Submission of required documents to NSE and payment of applicable fees

Internal Control Requirements

NSE specifically advised the company to strengthen internal controls to monitor trades executed by the proposed allottees in the company's scrip. The company must:

  • Obtain an undertaking from allottee(s) confirming they shall not do intra-day trading in the company's scrip or any sale until the allotment date
  • Verify compliance with Regulation 167(6) of SEBI ICDR regulations, 2018
  • Note that any non-compliances observed post-undertaking may impact the listing of such shares

Important Notes

The approval does not constitute approval under any other Act/Regulation/rule/by laws. The company must separately obtain approvals from other departments if required. NSE reserves the right to withdraw approval if submitted information is found incomplete/incorrect/misleading/false or in contravention of any regulations.