SK Minerals & Additives Limited has received in-principle approval from BSE Limited for the issuance of 55,00,000 (Fifty-Five Lakh) warrants convertible into an equal number of equity shares. The approval was granted vide BSE's letter reference no. LOD/PREF/DA/FIP/644/2026-27 dated August 10, 2026.

Key Details of the Proposed Issuance

  • Number of Warrants: 55,00,000
  • Conversion: Each warrant convertible into one equity share
  • Face Value: ₹10 per share
  • Issue Price: Not less than ₹397 per warrant
  • Allottee Categories: Promoter/promoter group and non-promoter categories
  • Basis: Preferential allotment

Regulatory Compliance Requirements

BSE's approval is subject to strict compliance with multiple regulations including:

  • Companies Act, 2013
  • Securities Contracts (Regulation) Act, 1956
  • SEBI Act, 1992
  • Depositories Act, 1996
  • SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (ICDR Regulations)
  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR Regulations)

Specific Compliance Instructions from BSE

The company must strengthen internal controls to monitor trades by proposed allottees and:

  • Obtain undertakings from allottees confirming they will not engage in intra-day trading or any sale in the company's scrip until the allotment date
  • Bear sole responsibility for verifying compliance with Regulation 167(6) of SEBI ICDR regulations
  • Note that any post-undertaking non-compliances may impact listing approval

Post-Allotment Requirements

  • Must make listing application without delay after allotment with applicable fees under Regulation 14 of LODR Regulations
  • Must apply for listing within 20 days from date of allotment as per Schedule XIX of ICDR Regulations and SEBI circular dated June 21, 2023
  • Non-compliance with the 20-day requirement will attract fines as specified in the SEBI circular

Important Conditions

  • This in-principle approval does not constitute final listing approval
  • BSE reserves the right to withdraw approval if submitted information is found incomplete, incorrect, misleading, false, or in contravention of any regulations
  • For convertible securities, depositories will automatically release excess lock-in period of pre-preferential holding without requiring NOC from the Exchange

Document References

  • BSE Approval Reference: LOD/PREF/DA/FIP/644/2026-27
  • SEBI Circular: SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023
  • Regulatory Framework: Regulation 28(1) of SEBI LODR Regulations, 2015