Selan Exploration Technology Limited has informed the Exchange regarding 'Allotment of Shares pursuant to the Composite Scheme of Arrangement'.
ANTELOPUS · price
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Selan Exploration Technology has allotted 1,99,62,358 equity shares (face value Rs 10 each) to shareholders of Antelopus Energy Private Limited under a Composite Scheme of Arrangement approved by NCLT on June 10, 2025, effective July 5, 2025. This follows the amalgamation of Antelopus Energy into Selan, with the appointed date of April 1, 2023. The newly allotted shares will remain frozen until listing and trading permission is granted by the stock exchanges. For Q1 FY26, the company reported revenue from operations of Rs 5,063 lakhs (down from Rs 6,346 lakhs in Q1 FY25) and net profit of Rs 1,122 lakhs (down from Rs 1,783 lakhs), with EPS at Rs 3.19. The company is also in the process of acquiring the remaining 50% participating interest in the Cambay Field.
The amalgamation expands Selan's asset base by absorbing Antelopus Energy, and the ~1.99 crore new shares will increase the equity share count meaningfully. The freezing of new shares until listing approval means existing shareholders face temporary supply overhang and dilution. Q1 results show a year-on-year decline in both revenue and profits, partly due to the restated comparable numbers under the pooling-of-interest method.