We have received the Listing Approval letter from the Bombay Stock Exchange (BSE) for listing of 1,20,000 Equity Shares of Rs. 5/- each issued at the premium of Rs. 202/- each bearing ....
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Shine Fashions (India) Ltd has received a listing approval letter from the Bombay Stock Exchange (BSE) for 1,20,000 equity shares with a face value of Rs. 5 each. These shares were issued at a premium of Rs. 202 per share, making the total issue price Rs. 207 per share. The total fundraising from this issuance is approximately Rs. 2.48 crore. Given the small size of the issue, this appears to be an SME-scale listing, likely part of a small public issue or preferential allotment. The very high premium (about 40x face value) is notable.
For shareholders, this means new shares are being listed, which could lead to slight dilution. The small issue size and high premium suggest the company is valued richly on a per-share basis, though the limited float may make the stock illiquid and volatile after listing.