Intimation of Receipt of In principal approval for listing of 18,00,000 Equity Shares of Rs. 10/- each issued pursuant to conversion of warrants on preferential basis
TEMBO · price
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Awaiting price reaction for this filing.
Tembo Global Industries has received in-principle (preliminary) approval from the stock exchange for listing 18,00,000 (18 lakh) new equity shares of Rs. 10 face value each. These shares are being issued because warrants that were earlier allotted to certain investors on a preferential (private placement) basis are now being converted into equity shares. The in-principle approval is typically the first step before the shares are actually listed and become tradeable. The warrant holders are exercising their right to take delivery of shares after paying the balance conversion amount. Once listed, the total share count of the company will increase by 18 lakh shares.
This is a mild dilution event for existing shareholders since new shares are being added to the total share base. The actual price impact will depend on whether the warrant holders hold or sell these shares after listing, which can create short-term supply pressure.