Intimation of Listing Approval Recevied for listing of 2,51,39,620 Euity Shares
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BSE has granted in-principle listing approval for 2,51,39,620 equity shares (face value Rs. 1, premium Rs. 1.55, total Rs. 2.55 per share) of Radhe Developers India Ltd. These shares will be issued to the promoter on a preferential basis under Chapter V of SEBI ICDR Regulations, 2018, specifically against conversion of an unsecured loan into equity. The total value of the issuance works out to approximately Rs. 6.41 crore. The shares are numbered from 523741921 to 548881540. No new cash is being brought into the company — the promoter is simply converting an existing loan owed to them into equity ownership.
Existing shareholders will face dilution as the promoter's stake increases through this loan-to-equity conversion. On the positive side, the company's debt position improves since an unsecured loan is replaced with equity, strengthening the balance sheet. The promoter's increased holding signals continued commitment but the dilution effect may weigh on the stock in the short term.