Pursuant to Regulation 30 of SEBI (Listing and Obligations Disclosure Requirements) Regulations,2015, BSE has issued Listing Approval letter for issue of 3200000 Equity shares
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S. M. Gold Ltd has received BSE listing approval for 32,00,000 equity shares of Rs. 10 face value, issued at a premium of Rs. 11 per share (total issue price of Rs. 21 per share) on a preferential basis to non-promoters. The aggregate value of the issue works out to approximately Rs. 6.72 crore. Trading approval is still pending and will be granted only after the company files NSE approval (if applicable) and NSDL/CDSL confirmation letters for crediting shares to beneficiary accounts, along with lock-in confirmations. The company is required to disclose the change in paid-up capital exceeding two percent under SEBI Listing Regulations.
This is a routine post-allotment disclosure confirming the preferential shares to non-promoters will soon be tradable on BSE, modestly increasing the company's floating share base. There is no immediate material effect on existing shareholders beyond minor dilution from the new shares.