Manoj Ceramic Limited has received in-principle approval from BSE Limited for a preferential issue of Compulsorily Convertible Preference Shares (CCPS) to its promoters.

Approval Details

The approval was granted on November 03, 2026, through letter reference no. LOD/PREF/SS/FIP/1052/2026-27 from BSE Limited. The approval covers the issuance of 2,50,000 (Two Lakh Fifty Thousand) Compulsorily Convertible Preference Shares of face value ₹100 each.

Conversion Terms

The CCPS will convert into equity shares having face value of ₹10 each in the ratio of 1:1 (one equity share for every one CCPS) at a price of ₹100 per equity share.

Regulatory Compliance Requirements

The approval is subject to strict compliance with:

  • Companies Act, 2013
  • Securities Contracts (Regulation) Act, 1956
  • Securities and Exchange Board of India Act, 1992
  • Depositories Act, 1996
  • Chapter V of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (ICDR Regulations)
  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR Regulations)
  • Listing Agreement with BSE

Internal Control Requirements

The company must strengthen internal controls to monitor trades by the proposed allottees in the company's scrip before allotment. Specific requirements include:

  • Obtaining an undertaking from allottees confirming they will not do intra-day trading or any sale in the company's scrip until the allotment date
  • The responsibility for verification and compliance rests solely with the issuer company, particularly Regulation 167(6) of SEBI ICDR regulations, 2018
  • Any non-compliances observed post-undertaking may impact the listing of such shares

Post-Allotment Requirements

After allotment, the company must:

  • Make a listing application without delay with applicable fees under Regulation 14 of LODR Regulations
  • Comply with post-issue formalities
  • Apply for listing within twenty days from the date of allotment as per Schedule XIX - Para (2) of ICDR Regulations and SEBI circular no. SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023
  • Non-compliance with the 20-day requirement will attract fines as specified in the SEBI circular

Additional Notes

For convertible securities, depositories will automatically release excess lock-in period of Pre-Preferential Holding of allottees without requiring any NOC from the Exchange.

The Exchange reserves the right to withdraw this in-principle approval if submitted information is found incomplete, incorrect, misleading, false, or if it contravenes any rules, regulations, or guidelines.