Key Details of Approval
- Approval Received: In-Principle Approval from BSE Limited
- Reference Number: LOD/PREF/SS/FIP/797/2026-27
- Date of Approval: September 18, 2026
- Approval Authority: BSE Limited
- Regulatory Basis: Regulation 28(1) of SEBI Listing Regulations
Security Issue Details
- Instrument: 90,50,000 (Ninety Lakh Fifty Thousand) Warrants
- Conversion Terms: Each warrant convertible into 1 (One) Equity Share
- Issue Type: Preferential basis
- Allottee Categories: Promoter & Promoter Group and Non-Promoter/Public Category
- Price per Warrant: ₹63.64 (Rupees Sixty-Three and Sixty-Four Paise only)
- Premium Component: ₹61.64 (Rupees Sixty-One and Sixty-Four Paise only) per Warrant
- Face Value: ₹2 (Rupees Two only) per Equity Share
Regulatory Compliance Requirements
The proposed issue is subject to applicable provisions of:
- Companies Act, 2013
- SEBI Listing Regulations
- SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
- Other applicable laws, rules, regulations and statutory approvals
Specific Conditions and Advisory from BSE
- The in-principle approval does not constitute approval for listing of the security
- Company must strengthen internal controls to monitor trades executed by proposed allottees
- Company must obtain undertaking from allottee(s) confirming they shall not:
- Do intra-day trading in the company's scrip
- Execute any sale in the company's scrip until the allotment date
- Responsibility for verification and compliance rests solely with the issuer company
- Non-compliances may impact listing of such shares
Post-Allotment Requirements
- Listing application must be made without delay after allotment
- Application must be made within twenty days from date of allotment as per SEBI circular no. SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023
- Applicable fees must be paid
- Company must comply with post-issue formalities
Additional Notes
- For convertible securities, depositories will automatically release excess lock-in period of pre-preferential holding without requiring NOC from Exchange
- Exchange reserves right to withdraw approval if information submitted is found incomplete/incorrect/misleading/false or contravenes any regulations