Shivam Autotech Limited has informed the Exchange about General Updates
SHIVAMAUTO · price
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Awaiting price reaction for this filing.
Shivam Autotech has received listing approval from BSE for 92,72,997 equity shares of Rs. 2 face value each, allotted at a premium of Rs. 24.96 per share, pursuant to conversion of Optionally Convertible Debentures (OCDs) issued on a preferential basis to non-promoters. The shares carry distinctive numbers from 122222223 to 131495219. Trading approval is still pending — the company must file NSE's listing approval, NSDL/CDSL credit confirmations, and pre-preferential lock-in confirmations before these shares can start trading on the exchange. The company must apply for trading approval within seven working days, failing which penalties under SEBI circulars will apply. This issuance is the result of an earlier preferential OCD placement being converted into equity.
Existing shareholders should expect dilution of their holdings once these ~92.7 lakh new shares begin trading. The shares are subject to SEBI lock-in rules, which may limit immediate selling pressure, but supply could increase once any applicable lock-in periods end.