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Awaiting price reaction for this filing.
Rajnish Retail Ltd (formerly Sheetal Diamonds Limited, Scrip Code: 530525) has received BSE approval for listing of 34,50,000 equity shares with a face value of ₹1 each, issued at a premium of ₹18.20 (i.e., issue price of ₹19.20 per share). These shares were allotted to promoters and non-promoters on a preferential basis following the conversion of warrants. The shares became eligible for trading on BSE effective May 22, 2025. The approval letter from BSE was dated May 21, 2025. This increases the total listed share count of the company and brings previously locked-in warrant-converted shares into the tradable pool.
This is a dilution event for existing shareholders as 34.5 lakh new shares enter the market. The shares were issued at ₹19.20 (a premium over face value), and their listing could create near-term supply pressure depending on whether allottees choose to hold or sell. Existing shareholders should note the expanded equity base.