Baid Finserv Limited has informed the Exchange regarding 'Submission of Certificate received from Statutory Auditor in terms of Regulation 169(5) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ( ICDR Regulations )'.
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Baid Finserv Limited has submitted to BSE and NSE a certificate from its statutory auditor (M/s ABSM & Associates) confirming compliance with SEBI's ICDR Regulations regarding a preferential issue of 1,20,06,831 fully convertible warrants to the Promoter and Promoter Group. Each warrant is convertible into one equity share of face value Rs. 2 at an issue price of Rs. 15.10 (including a premium of Rs. 13.10). The company received 25% upfront money of Rs. 4.53 crore by April 9, 2025, and the remaining 75% of Rs. 5.44 crore by March 12, 2026. Upon receiving the balance 75% consideration, the Board allotted 48,02,732 equity shares on March 12, 2026 to two allottees (Dream Realmart Pvt Ltd and Niranjana Properties Pvt Ltd), with the other four allottees (Aditya Baid, Alpana Baid, Asmita Baid, Dalima Baid) not having yet converted their warrants. The auditor verified bank statements and confirmed there was no circulation of funds or mere book-entry passing.
This is a regulatory compliance filing related to an already-disclosed preferential issue to the promoter group, signalling continued promoter commitment and capital infusion into the company. It is procedural in nature and unlikely to cause an immediate price reaction, though it confirms dilution of existing public shareholders from the warrant conversion.