Mitsu Chem Plast Limited has received in-principle approval from BSE Limited for a preferential issue of convertible warrants. The approval was granted vide letter Ref: LOD/PREF/DA/FIP/912/2026-27 dated October 09, 2026.

Key Details of the Warrant Issue:

  • Number of warrants: 10,00,000 (ten lakh)
  • Convertible into: 10,00,000 equity shares
  • Face value: Rs. 10 per share
  • Issue price: Not less than Rs. 151 per warrant
  • Allottees: Promoters and Non-Promoters of the Company

Regulatory Compliance Requirements:

The BSE approval specifies several compliance requirements that the company must adhere to:

  • The issue and allotment must comply with Companies Act 2013, SCRA 1956, SEBI Act 1992, Depositories Act 1996, and all relevant rules and regulations
  • Strict adherence to Chapter V of SEBI (ICDR) Regulations, 2018 and SEBI (LODR) Regulations, 2015
  • The company must strengthen internal controls to monitor trades by proposed allottees

Specific Conditions Imposed by BSE:

  • Company must obtain undertaking from allottees confirming they will not do intra-day trading or any sale in the company scrip until allotment date
  • Responsibility for verification and compliance rests solely with the issuer company
  • Any non-compliance may impact listing of the shares
  • Company must make listing application without delay after allotment with applicable fees under Regulation 14 of LODR Regulations

Timeline Requirements:

  • As per SEBI circular no. SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023
  • Listing application must be made within 20 days from date of allotment
  • Non-compliance 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 without requiring NOC from Exchange
  • BSE reserves right to withdraw approval if information is found incomplete/incorrect/misleading/false or if it contravenes any rules/regulations

The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and signed by Manish Mavji Dedhia, Managing Director and CFO (DIN: 01552841).