Approval Details

  • Approval Type: In-principle approval granted by BSE Limited
  • Approval Reference: LOD/PREF/SS/FIP/954/2026-27 dated October 14, 2026
  • Regulatory Basis: Under Regulation 28(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Share Issue Particulars

  • Number of Shares: 7,06,068 equity shares
  • Face Value: ₹10 per share
  • Issue Price: Not less than ₹558.93 per share
  • Allottee Category: Non-promoter category
  • Issue Method: Preferential basis pursuant to share swap

Compliance Requirements

The approval is subject to strict compliance with:

  • Companies Act, 2013
  • Securities Contracts (Regulation) Act, 1956
  • SEBI 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

BSE has advised the company to strengthen internal controls to monitor trades by proposed allottees:

  • Must obtain undertaking from allottees confirming they will not do intra-day trading in company scrip
  • Allottees must not sell any shares in company scrip till allotment date
  • Responsibility solely on issuer company to verify compliance with Regulation 167(6) of SEBI ICDR regulations
  • Non-compliances may impact listing of shares

Post-Allotment Requirements

  • Listing application must be made without delay with applicable fees under Regulation 14 of LODR Regulations
  • Application must be made within 20 days from date of allotment as per SEBI circular no. SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023
  • Must comply with Schedule XIX - Para (2) of ICDR Regulations
  • Non-compliance will attract fines as specified in the SEBI circular

Important Caveats

  • This in-principle approval does not constitute approval for listing of securities
  • BSE reserves right to withdraw approval if information submitted is found incomplete/incorrect/misleading/false
  • Approval can be withdrawn if contravenes any Rules, Bye-laws, Regulations of Exchange, LODR Regulations, ICDR Regulations or statutory authorities' guidelines