Date: September 25, 2026
Fundraising / Financing
Preferential Issue Approval Details:
- The company has received in-principle approval from both National Stock Exchange of India Limited (NSE) and BSE Limited for a preferential issue of equity shares.
- NSE approval reference: NSE/LIST/56829 dated September 24, 2026
- BSE approval reference: LOD/PREF/RB/FIP/830/2026-27 dated September 24, 2026
- Total issue size: 37,60,000 Equity Shares of face value ₹5 each
- Issue price: ₹375 per Equity Share
- Total issue amount: ₹141.00 Crore
- Allottee categories: Promoters & Promoter Group and Non-Promoters Category
- Method: Preferential basis through private placement
Conditions of Approval:
- The company must file listing application at the earliest from the date of allotment
- Must receive all statutory and other approvals from SEBI, RBI, MCA, etc.
- Must comply with all applicable guidelines, regulations, and directions of Exchange or statutory authorities
- Must comply with SEBI (LODR) Regulations, 2015, Companies Act, and other applicable laws
- Must submit required documents to exchanges and pay applicable fees
Additional Requirements:
- Company must strengthen internal controls to monitor trades executed 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 till allotment date
- Responsibility is solely on the issuer company to verify and ensure compliance with Regulation 167(6) of SEBI ICDR regulations, 2018
- Any non-compliances observed by exchanges may impact listing of such shares
Post-Allotment Requirements:
- Must make listing application within twenty days from date of allotment as per SEBI circular 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 SEBI circular
Reservation of Rights:
- Exchanges reserve the right to withdraw in-principle approval if information submitted is found incomplete/incorrect/misleading/false
- Approval can be withdrawn if contravening any Rules, Bye-laws, Regulations of Exchange, SEBI regulations, or statutory guidelines
Signatories and Contacts
- Company signatory: Hirenkumar Popatbhai Vala, Company Secretary
- NSE signatory: Ankita Gupta, Manager
- BSE signatories: Assistant Vice President and Pranav Rewale, Deputy Manager
- Company address: Fortune Terraces, B wing, 10th Floor, Link Road, Opp. Citi Mall, Andheri (West), Mumbai - 400 053