Approval Details

  • Approval Date: October 21, 2026
  • Approval Reference: LOD/PREF/KS/FIP/986/2026-2027
  • Approving Authority: BSE Limited
  • Approval Type: In-principle approval for preferential issue

Securities Issue Details

Equity Shares to Non-Promoters

  • Quantity: 12,89,177 equity shares
  • Face Value: ₹10 each
  • Issue Price: Not less than ₹602 per share
  • Allottee Category: Non-promoters

Warrants to Promoters

  • Quantity: 3,48,837 warrants
  • Conversion: Convertible into 3,48,837 equity shares
  • Face Value: ₹10 each
  • Conversion Price: Not less than ₹602 per share
  • Allottee Category: Promoters

Regulatory Compliance Requirements

BSE has stipulated that the company must:

  • Ensure issue and allotment complies with Companies Act 2013, SCRA 1956, SEBI Act 1992, Depositories Act 1996, and all relevant Rules, Regulations, and Guidelines
  • Comply specifically with Chapter V of SEBI (ICDR) Regulations, 2018 and SEBI (LODR) Regulations, 2015
  • Obtain all necessary statutory and other approvals

Internal Control Requirements

BSE has advised the company to strengthen internal controls to monitor trades executed by proposed allottees in the company's scrip before allotment to prevent regulatory non-compliances. Specific requirements include:

  • Obtain undertaking from allottees confirming they will not do intra-day trading in the company scrip
  • Obtain undertaking from allottees confirming they will not sell the company scrip until the allotment date
  • Company bears sole responsibility for verification and compliance with Regulation 167(6) of SEBI ICDR Regulations, 2018
  • Any non-compliances post-undertaking may impact listing of shares

Post-Allotment Requirements

  • Company 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
  • Listing application must be made within 20 days from date of allotment as per Schedule XIX Para (2) of ICDR Regulations and SEBI circular SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023
  • Non-compliance with 20-day requirement will attract fines specified in the SEBI circular

Approval Conditions

BSE reserves the right to withdraw this in-principle approval if:

  • Information submitted is found incomplete, incorrect, misleading, or false
  • The issue contravenes any Rules, Bye-laws, Regulations of the Exchange, LODR Regulations, ICDR Regulations, or Guidelines/Regulations issued by statutory authorities

Additional Information

  • Company CIN: L64290MH1991PLC064425
  • Contact: Mobile No. 8898231554, Email: sellaidspublication@yahoo.in, Website: www.stellantsecurities.com