Intimation regarding receipt of Listing approval received from BSE Limited
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Awaiting price reaction for this filing.
Sanrhea Technical Textiles has received approval from BSE for listing of 6,90,000 equity shares of Rs. 10 each issued at a premium of Rs. 42 (total issue price of Rs. 52 per share) to its Promoters on a preferential basis. The new shares carry distinctive numbers from 50,00,001 to 56,90,000. Trading approval is still pending and will be granted after the company files NSE listing approval (if applicable) and NSDL/CDSL confirmation letters regarding share crediting and lock-in of pre-preferential holdings. The company must apply for trading approval within seven working days as per SEBI guidelines.
This is a procedural step following a preferential allotment to promoters, meaning the promoter group is increasing its stake in the company. While listing approval is a positive administrative milestone, existing minority shareholders may view increased promoter holding through preferential route as a dilution of their proportional ownership. No immediate impact on stock price is expected as trading is yet to commence for these shares.