Dear Sir, We are enclosing herewith a copy of the approval received from the exchange w.r.t. the equity shares allotted upon conversion of warrants.
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Aveer Foods has received BSE listing approval for 2,26,087 equity shares of Rs. 10 face value issued at a premium of Rs. 565 (i.e., at Rs. 575 per share) to Mr. Vishal Rajkumar Chordia, a member of the promoter group. These shares were allotted on a preferential basis following the conversion of warrants held by the promoter. The company must now complete a few more steps — including NSE approval (if applicable) and depository credit confirmation from NSDL/CDSL — before trading approval is granted for these shares.
This increases the promoter's stake in Aveer Foods, signalling promoter confidence in the company. However, the shares are not yet tradable, and completion of depository and exchange formalities is required before they can be bought or sold in the market.