Date: October 07, 2026

Board Meeting Outcomes

  • The company has received in-principle approval from both National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange Limited (BSE) for preferential issue of warrants.
  • Approval covers issue of 15,00,000 warrants convertible into 15,00,000 equity shares of ₹2 each.
  • The issue price is set at not less than ₹60 per warrant.
  • The warrants are to be issued to non-promoters on preferential basis.

Fundraising / Financing

  • The company plans to raise capital through issuance of 15,00,000 convertible warrants.
  • Each warrant is convertible into one equity share of face value ₹2.
  • The minimum issue price is ₹60 per warrant, potentially raising ₹9,00,00,000 (₹9 crore).
  • The warrants will be issued to non-promoter category investors.

Regulatory Compliance & Conditions

  • The in-principle approval was granted by NSE vide letter Ref: NSE/LIST/57262 dated October 06, 2026.
  • BSE granted approval vide letter Ref: LOD/PREF/PR/FIP/888/2026-27 dated October 06, 2026.
  • The approval is subject to compliance with Companies Act, 2013, Securities Contracts (Regulation) Act, 1956, SEBI Act, 1992, Depositories Act, 1996, SEBI ICDR Regulations, 2018, and SEBI LODR Regulations, 2015.
  • The company must obtain all necessary statutory approvals from SEBI, RBI, MCA, and other authorities.
  • The exchange reserves the right to withdraw approval if information is found incomplete/incorrect/misleading/false.

Internal Controls Requirements

  • The 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 scrip until allotment date.
  • The responsibility is solely on the issuer company to verify compliance with Regulation 167(6) of SEBI ICDR regulations, 2018.
  • Any non-compliances observed by exchanges post-undertaking may impact listing of such shares.

Post-Approval Formalities

  • The company must make listing application within 20 days from date of allotment as per SEBI circular SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023.
  • Must comply with post-issue formalities and pay applicable fees.
  • Depositories will automatically release excess lock-in period of pre-preferential holding of allottees without requiring NOC from exchange.