Intimation of receipt of In-Principle Approval for listing of 20,000,000 Equity Shares pursuant to conversion of warrants.
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Awaiting price reaction for this filing.
Julien Agro Infratech Ltd has received in-principle approval from BSE for listing of 2 crore (20 million) equity shares arising from the conversion of Fully Convertible Equity Warrants. These shares are being allotted to non-promoter entities on a preferential basis at an exercise price of Rs. 13.50 per share (Rs. 5 face value + Rs. 8.50 premium), aggregating to Rs. 27 crores. The shares will carry distinctive numbers from 39578001 to 59578000. Trading approval is still pending and will be granted only after the company submits NSE approval (if applicable), NSDL/CDSL credit confirmation, and lock-in confirmations. The company must apply for trading approval within seven working days to avoid penalties.
This is a dilution event — 2 crore new shares will eventually enter the market after warrant exercise, increasing the total share count. Existing shareholders should expect shareholding dilution once warrants are converted and trading approval is obtained. The stock may see pressure if warrants are exercised and shares are eventually sold by non-promoter allottees.