Date: September 21, 2026

Preferential Share Issue Details

Kirloskar Electric Company Limited has received in-principle approval from both BSE Limited and National Stock Exchange of India Limited for a preferential issue of equity shares to Kirloskar Power Equipments Limited, a promoter group company.

Issue Specifications:

  • Number of shares: 34,68,007 (Thirty Four Lakh Sixty Eight Thousand and Seven) Equity Shares
  • Face value: ₹10 (Rupees Ten Only) per share
  • Floor price: ₹115.34 (Rupees One Hundred and Fifteen and Thirty Four Paise Only) per Equity Share
  • Total issue value: Approximately ₹40 crore (based on floor price)
  • Allottee: Kirloskar Power Equipments Limited (promoter group company)

Regulatory Approvals:

  • BSE Approval Reference: LOD/PREF/KS/FIP/804/2026-27 dated September 21, 2026
  • NSE Approval Reference: NSE/LIST/56437 dated September 21, 2026
  • Both approvals granted under Regulation 28(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Regulatory Conditions and Compliance Requirements

Both exchanges have stipulated specific conditions and compliance requirements:

BSE Requirements:

  • The in-principle approval does not constitute final listing approval
  • Company must ensure strict compliance with Companies Act 2013, SCRA 1956, SEBI Act 1992, Depositories Act 1996, SEBI ICDR Regulations 2018, and SEBI LODR Regulations 2015
  • Company must obtain all necessary statutory and other approvals

NSE Requirements:

  • Filing of listing application promptly after allotment
  • Receipt of statutory approvals from SEBI, RBI, MCA, etc.
  • Compliance with all applicable guidelines, regulations, and directions
  • Submission of required documents and payment of applicable fees

Critical Compliance Instructions from Both Exchanges:

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

Timeline Requirements:

  • Listing application must be made 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 timeline will attract fines as specified in the SEBI circular

Reservations and Limitations

Both exchanges reserve the right to withdraw the in-principle approval if:

  • Information submitted is found incomplete/incorrect/misleading/false
  • There is contravention of any Rules, Bye-laws and Regulations of the Exchange
  • Non-compliance with LODR Regulations, ICDR Regulations or guidelines/regulations issued by statutory authorities

The NSE specifically notes that this approval should not be construed as approval under any other Act/Regulation/rule/bye laws.

Additional Information

Company Details:

  • Fax: +91 80 2839 6727
  • Customer care: 1800 102 8268

Signatories:

  • Mahabaleshwar Bhat, Company Secretary & Compliance Officer (Kirloskar Electric)
  • Nitinkumar Pujari, Assistant Vice President (BSE)
  • Karan Shah, Deputy Manager (BSE)
  • Prakash Kelkar, Senior Manager (NSE)

Not Specified Sections

No material disclosures under the following sections: Financial Results, Dividend Declaration, KMP/Board/Auditor Changes, Board Meeting Outcomes, Auditor's Report, Disinvestment/Strategic Actions, Media Release/Investor Communication, Other Operational/Legal/Strategic Disclosures.