Approval Details

  • Approval Reference: LOD/PREF/MV/FIP/768/2026-27 dated September 10, 2026
  • Approving Authority: BSE Limited
  • Approval Type: In-principle approval under Regulation 28(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Securities Issue Details

Equity Shares

  • Quantity: 1,51,49,079 equity shares
  • Face Value: ₹5 per share
  • Issue Price: Not less than ₹14.33 per share
  • Allottees: Non-promoters only
  • Total Equity Value: Approximately ₹21.71 crore (based on minimum price)

Convertible Warrants

  • Quantity: 38,38,102 warrants
  • Conversion: Each warrant convertible into 1 equity share of ₹5 each
  • Issue Price: Not less than ₹14.33 per warrant
  • Allottees: Promoters and non-promoters
  • Total Warrant Value: Approximately ₹5.50 crore (based on minimum price)
  • Potential Equity Dilution: 38,38,102 additional equity shares upon conversion

Regulatory 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
  • Other statutory approvals as required

Specific Compliance Instructions from BSE

Internal Controls Requirements

  • Company must strengthen internal controls to monitor trades executed by proposed allottees
  • Must obtain undertaking from allottees confirming they will not engage in intra-day trading or any sale in the company scrip until allotment date
  • Responsibility for verification and compliance rests solely with the issuer company (Regulation 167(6) of SEBI ICDR regulations, 2018)
  • Non-compliances may impact listing of shares

Post-Allotment Requirements

  • Must make listing application without delay with applicable fees under Regulation 14 of LODR Regulations
  • For convertible securities, depositories will automatically release excess lock-in period of Pre-Preferential Holding without requiring NOC from Exchange
  • Application for listing must be made within twenty days from 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 timeline will attract fines as specified in the SEBI circular

Approval Conditions and Limitations

  • This in-principle approval should not be construed as approval for listing of securities
  • Exchange reserves right to withdraw approval if information submitted is found incomplete/incorrect/misleading/false
  • Approval can be withdrawn if company contravenes any Rules, Bye-laws, Regulations of Exchange, LODR Regulations, ICDR Regulations or Guidelines/Regulations issued by statutory authorities

Company Representatives

  • Managing Director: Rajinder Kaul (DIN: 01609805)
  • Company Address: C-504, ATS Bouquet, Sector-132, Noida, Uttar Pradesh – 201305

BSE Representatives

  • Assistant Vice President: kumar Puiari
  • Deputy Manager: Mayuri Visaria

#Tags: #SharikaEnterprises #PreferentialIssue #SEBIDisclosure #RegulatoryCompliance #Fundraising #BSEApproval