NSE''s approval for Listing and trading of 1,85,00,000 Equity Shares and 72,50,000 Equity Shares of Face value Rs.10/- each w.e.f. June 01,2026, pursuant to conversion of warants issued ....
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NSE has approved the listing of 18,500,000 and 7,250,000 equity shares (total 25,750,000) of face value Rs. 10/- each, issued at Rs. 16/- per share (including Rs. 6/- premium) to promoters and non-promoters. These shares arise from the conversion of warrants issued on a preferential basis. The shares are admitted to trading on NSE from June 1, 2026. Annexure I attached by NSE specifies lock-in periods — 18,270,000 shares are locked until November 30, 2026 and 7,480,000 shares until November 30, 2027, split between the two tranches. BSE (scrip code 590041) is also notified.
The issuance dilutes existing shareholders by adding ~25.75 million new shares. The lock-in on promoters and non-promoters till November 2026/2027 limits immediate selling pressure. Preferential warrant conversions typically signal promoter confidence if funded by the issuer itself.