Key Transaction Details

The company has received in-principle approval from BSE Limited for:

  • Issue and allotment of 1,42,858 warrants
  • Each warrant convertible into one fully paid-up equity share of face value ₹10
  • Issue price: ₹280 per warrant
  • Total issue size: ₹4,00,00,240 (Four Crores Two Hundred and Forty Only)
  • Issue basis: Preferential basis to promoters
  • Security type: Warrants convertible to equity shares

Regulatory Approval Details

  • Approving Authority: BSE Limited
  • Approval Reference: Letter no. LOD/PREF/MV/FIP/1071/2026-27
  • Approval Date: November 06, 2026
  • Approval Type: In-principle approval under Regulation 28(1) of SEBI LODR Regulations

Compliance Requirements Mandated by BSE

1. The approval does not constitute final listing approval - company must separately comply with listing requirements

2. Issue must comply with Companies Act 2013, SCRA 1956, SEBI Act 1992, Depositories Act 1996, and all relevant Rules and Regulations

3. Specific compliance required with Chapter V of SEBI ICDR Regulations 2018 and SEBI LODR Regulations 2015

4. Company must strengthen internal controls to monitor trades by proposed allottees

Specific Allottee Restrictions

  • Company must obtain undertaking from allottees confirming they will not do intra-day trading in company scrip
  • Allottees cannot sell any shares of the company until the allotment date of the security
  • Responsibility for verification and compliance rests solely with the issuer company
  • Non-compliance may impact listing of shares

Post-Allotment Requirements

  • Listing application must be made without delay after allotment with applicable fees
  • 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
  • Non-compliance with listing application timeline will attract fines as specified in the SEBI circular
  • For convertible securities, depositories will automatically release excess lock-in period of pre-preferential holding without requiring NOC from Exchange

Risk Factors

  • BSE 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  • Approval can be withdrawn if company contravenes any Rules, Bye-laws, Regulations of Exchange, LODR Regulations, ICDR Regulations or statutory authorities' guidelines