Listing approval for 31 lakh shares to promoters via warrant conversion
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
BSE granted listing approval to Kinetic Engineering for 31 lakh equity shares of Rs 10 face value issued at a Rs 161 premium to promoters, following conversion of warrants. Effective price is Rs 171 per share, taking total allotment value to about Rs 53 crore. Trading approval is still pending and needs NSE listing approval and confirmation that the shares have been credited to demat accounts. Preferential basis to promoters means public shareholding gets diluted while promoter holding goes up.
Non-promoter stake dilutes by about 31 lakh shares; promoter holding rises. Procedural step, trading approval expected shortly, limited near-term price impact.