Niraj Cement Structurals Limited has informed the Exchange regarding 'Receipt of In - Principle approval for listing of 33,00,000 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 June 17, 2025) and NSE (dated May 15, 2025) to list 33,00,000 equity shares of Rs. 10 face value each. These shares were allotted to non-promoters on a preferential basis at an issue price of Rs. 53 per share (a premium of Rs. 43), pursuant to the conversion of warrants. The total value of the issuance is approximately Rs. 17.49 crore. The shares still need final trading approval, which will be granted once the company files confirmation from NSDL/CDSL regarding credit to demat accounts and any applicable lock-in requirements.
This is a procedural update confirming that newly issued shares from warrant conversion will soon become tradeable, potentially increasing the floating supply. Shareholders should note possible dilution from these 33 lakh new shares, though the shares were issued at a significant premium (Rs. 53 vs Rs. 10 face value), indicating the non-promoter allottees paid well above par for the stock.