Please find enclosed Intimation regarding receipt of Trading Approval from BSE Limited on 12.05.2025 for trading of 2300000 Equity Shares issued pursuant to conversion of warrants .
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Awaiting price reaction for this filing.
Modern Dairies Limited has received trading approval from BSE for 23 lakh equity shares that were issued to Promoters and the Promoter Group through conversion of warrants on a preferential basis. These shares were originally allotted on 20 March 2025 at Rs. 50 per share (Rs. 10 face value + Rs. 40 premium), implying a total preferential consideration of about Rs. 11.5 crore. The trading approval was granted by BSE on 12 May 2025, allowing these shares to be traded on the exchange going forward. The filing is a routine disclosure under SEBI's Listing Obligations and Disclosure Requirements, 2015.
Listing of these warrant-converted shares adds to the existing floating supply, which may modestly increase liquidity in the stock but could also create some near-term supply pressure if promoters choose to monetise. The fact that promoters paid Rs. 40 over face value to convert warrants signals confidence in the company's prospects.