Sumit Woods Limited has informed the Exchange about General Updates
SUMIT · price
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Sumit Woods Limited has received in-principle listing approval from the National Stock Exchange (NSE) for 25,90,000 equity shares of Rs. 10 each. These shares were allotted to warrant holders who exercised their right to convert warrants that were originally issued on a preferential basis. The shares will be officially listed and available for trading once the depositories (NSDL/CDSL) confirm the credit to beneficiaries' accounts. The disclosure was made under Regulation 30 of the SEBI Listing Regulations.
An additional 25.9 lakh shares will enter the market, which increases the total share count and may cause short-term dilution. Existing shareholders should be aware of potential supply-side pressure on the stock price once these shares begin trading.