Niraj Cement Structurals Limited has informed the Exchange regarding 'Receipt of In - Principle approval for listing of 25,60,000 Equity shares of Rs. 10/- each allotted pursuant to conversion of warrants allotted on preferential basis'.
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Niraj Cement Structurals has received In-Principle approval from both BSE (dated May 8, 2025) and NSE (dated May 15, 2025) for the listing of 25,60,000 equity shares of Rs. 10 each. These shares were issued at Rs. 53 per share (a premium of Rs. 43 over face value) after promoters converted warrants that were earlier allotted to them on a preferential basis. The shares will be admitted for trading once the depositories (NSDL/CDSL) confirm credit to beneficiary accounts. This increases the company's total equity share count from about 4.85 crore to about 5.10 crore shares.
This is dilutive for existing public shareholders — the promoter group is increasing its stake by converting previously issued warrants, expanding the total share base by roughly 5%. While the promoter commitment signals confidence in the company, retail shareholders should note the increase in share count, which may put mild pressure on earnings per share in the near term.