Date: 13.10.2026
Board Meeting Outcomes
- BSE Limited and National Stock Exchange of India Limited have granted "In-Principle" approval for the proposed issuance of 16,45,000 (Sixteen Lakhs Forty Thousand) equity shares of face value Rs. 10/- each at a price not less than Rs. 60/- per share, on a preferential basis to the Promoters of the Company
Approval Details
- BSE Approval: Letter No. LOD/PREF/KS/FIP/921/2026-27 dated 12th October, 2026
- NSE Approval: Letter No. NSE/LIST/55660 dated 12th October, 2026
Conditions for Approval
The approval is subject to the Company fulfilling the following conditions:
- Filing the listing application at the earliest from the date of allotment
- Receipt of statutory and other approvals and compliance of guidelines/regulations issued by statutory authorities including SEBI, RBI, MCA, etc.
- Compliance with all applicable guidelines, regulations, directions of the Exchange or any statutory authorities as on the date of listing application
- Compliance of all conditions as per the SEBI (LODR) Regulations, 2015 as on date of listing, Companies Act, 1956 / Companies Act, 2013 and other applicable laws
- Submissions of documents as may be required by NSE and payment of applicable fees
Internal Control Requirements
The company is advised to strengthen internal controls to monitor trades being executed by the proposed allottees in the scrip of the company before allotment of securities to avoid any non-compliances. Specifically:
- The Company must obtain an undertaking from the allottee(s) confirming that they shall not do intra-day trading in the scrip of the company or any sale in the scrip of the company till the allotment date of the security as required under SEBI (ICDR) Regulations
- The responsibility/onus is solely on the Issuer company to verify this and ensure compliance with applicable provisions including Regulation 167(6) of SEBI ICDR regulations, 2018
- Any non-compliances observed by the exchanges post the undertaking and verification by the Issuer company may impact the listing of such shares
Additional Requirements
- The company must make an application for listing 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 its in-principle approval if information submitted is found to be incomplete/incorrect/misleading/false or in contravention of any Rules, Bye-laws and Regulations