Receipt of Listing approval for listing of 11,16,667 equity shares issued to non-promoters on preferential basis pursuant to conversion of warrants
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iStreet Network Ltd has received BSE listing approval for 11,16,667 equity shares issued to non-promoters on preferential basis. The shares have a face value of Rs. 4/- each with a premium of Rs. 2/-, carrying distinctive numbers from 68300003 to 69416669. The issuance follows conversion of warrants into equity shares. The company must comply with SEBI ICDR Regulations, particularly Regulation 167, and file shareholding patterns in XBRL mode. Trading approval will only be granted after NSDL/CDSL confirmation about crediting shares to beneficiary accounts and lock-in of pre-preferential holdings.
This represents dilution for existing shareholders as new shares are issued to non-promoters through warrant conversion. The listing approval is a standard regulatory step for preferential allotments, but the substantial number of shares may impact existing shareholders' stake percentages.