Intimation of Trading approval received for the allotment of 18,00,000 Equity Shares issued pursuant to the conversion of warrants into Equity Shares.
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Darjeeling Ropeway Company Limited (BSE: 539770) has received trading approval from BSE for 18,00,000 fully paid-up equity shares. These shares were issued at Rs. 10 face value with a premium of Rs. 6.80 per share (total Rs. 16.80 per share) to non-promoters on a preferential basis following the conversion of warrants. The shares, bearing distinctive numbers 3050001 to 4850000, will be listed and tradable on BSE from Wednesday, December 10, 2025. The original application for this preferential issue was made on October 25, 2024. This is a routine post-allotment intimation confirming that the converted shares are now available for trading.
The listing of these 18 lakh new shares increases the total share count, leading to minor dilution for existing shareholders. However, since this is the completion of a previously disclosed warrant conversion, the impact is largely already priced in and there is no fresh capital being raised now.