BSE In principal approval attached
Price
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On the reaction day the stock moved 3.3 pts less than Nifty Microcap 250 and 2.8 pts less than its Other Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Expo Engineering and Projects Ltd has received BSE's in-principle approval to issue 31,45,715 convertible warrants, which can be converted into an equal number of equity shares of Rs. 4 face value each. The warrants will be allotted on a preferential basis to both promoter and non-promoter categories at an issue price of Rs. 70 per warrant, which includes a premium of Rs. 66 per share. The total issue size works out to approximately Rs. 22.02 crore. The approval came from BSE on September 12, 2025, and the company informed the exchange about it on September 16, 2025. The company still needs to complete allotment and then apply separately for listing of the resulting equity shares.
Existing shareholders will see dilution once the warrants are converted into equity shares, as 31,45,715 new shares will be added to the share capital. The Rs. 22 crore preferential raise could strengthen the company's balance sheet, but retail shareholders should watch the allotment price closely as it sets a benchmark for valuation.