Date: August 31, 2026

Fundraising / Financing

The company has received in-principle approval from both National Stock Exchange of India Limited (NSE) and BSE Limited for a preferential issue of:

  • Up to 13,73,625 (Thirteen Lakhs Seventy Three Thousand Six Hundred Twenty Five) fully paid-up Equity Shares with face value of ₹10 each at a price of ₹2,002 per share (including a premium of ₹1,992 per share), aggregating up to ₹274,99,97,250 (Two Hundred Seventy Four Crore Ninety Nine Lakh Ninety Seven Thousand Two Hundred Fifty only)
  • Up to 2,49,750 (Two Lakh Forty-Nine Thousand Seven Hundred Fifty) convertible warrants at an issue price of ₹2,002 per warrant, aggregating up to ₹49,99,99,500 (Forty Nine Crore Ninety Nine Lakh Ninety Nine Thousand Five Hundred only)

The equity shares are intended for non-promoters while the convertible warrants are intended for promoters.

Regulatory Approvals and Conditions

NSE Approval Details:

  • Reference Number: NSE/LIST/56551 dated August 31, 2026
  • Approval granted under Regulation 28(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Conditions include:
  • Filing listing application immediately after allotment
  • Obtaining statutory approvals from SEBI, RBI, MCA, etc.
  • Compliance with all applicable guidelines and regulations
  • Submission of required documents and payment of applicable fees

BSE Approval Details:

  • Reference Number: LOD/PREF/AA/FIP/732/2026-27 dated August 31, 2026
  • Similar conditions as NSE regarding statutory compliance and post-allotment procedures

Special Compliance Requirements

Both exchanges specifically advised the company to:

  • Strengthen internal controls to monitor trades executed by proposed allottees in the company's scrip
  • 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, 2018
  • Note that any non-compliance observed post-undertaking may impact the listing of such shares

Timeline and Additional Requirements

  • The company must make listing application within twenty days from the date of allotment as per SEBI circular no. SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023
  • The exchange reserves the right to withdraw in-principle approval if submitted information is found incomplete/incorrect/misleading/false or in contravention of regulations

Signatories and Contacts

Company Representative:

  • Rahul Lavane, Company Secretary & Compliance Officer (Membership No.: A57240)

Exchange Officials:

  • NSE: Ankita Gupta, Manager
  • BSE: Janardhan Wagle, Deputy Vice President and Akshata Mhatre, Deputy Manager