Ambassador Intra Holdings542524Preferential allotment

BSE gives in-principle approval for issue of 18,00,000 warrants convertible into equity shares

BSE Limited has granted in-principle approval for the issue of 18,00,000 warrants, convertible into 18,00,000 equity shares, to Non-Promoters on a preferential basis.

By ScoutQuest · Wed 14 Oct 2026, 11:59 AM IST · 2 min read

Warrants to be issued: 18,00,000 warrants, convertible into 18,00,000 equity shares
Allottees: Non-Promoters on a preferential basis
Face value per equity share: Rs. 10/- per equity share; price not less than Rs. 21.50/- each

What the company informed the exchange

BSE Limited has granted its in-principle approval, through its letter dated 13th October, 2026, for the issue of 18,00,000 warrants that are convertible into 18,00,000 equity shares of the company, on a preferential basis to Non-Promoters.

The figures

Warrants to be issued: 18,00,000
Equity shares on conversion: 18,00,000
Face value of each equity share: Rs. 10/-
Price: not less than Rs. 21.50/- each
Allottees: Non-Promoters

What a warrant means for a retail investor

A warrant is not a share by itself. It is a right to receive a share at a later date, usually after payment as per the terms of the issue. When these warrants are converted, 18,00,000 new equity shares will come into existence. The number of shares in the company will increase, and each existing shareholder's holding will represent a smaller slice of the company than before. Since the allottees are Non-Promoters, this is not a change in promoter holding.

What BSE has asked the company to do

Obtain an undertaking from the allottee(s) that they will not do intra-day trading in the scrip, or any sale of the scrip, till the allotment date.
Strengthen internal controls to monitor trades executed by the proposed allottees, so that trades do not contravene the ICDR Regulations.
Make a listing application, with applicable fees, without delay once the securities are allotted, and complete the post-issue formalities.
Note that responsibility for the above lies on the issuer company, and that non-compliance observed after the undertaking and verification may impact the listing of such shares.

Timelines mentioned

The listing application must be made within twenty days from the date of allotment, as per the ICDR Regulations and the specified SEBI circular. Non-compliance with this requirement will attract the fine mentioned in that circular.

Points worth noting

This is an in-principle approval for the issue. BSE has stated it should not be construed as approval for the listing of the securities, which requires separate compliance.
The exchange reserves the right to withdraw this in-principle approval at any stage if the information submitted is found to be incomplete, incorrect, misleading or false, or if it contravenes any rules, bye-laws and regulations of the exchange or of statutory authorities.
In the case of allotment of convertible securities, there would be automatic release of the excess lock-in period of pre-preferential holding of the allottees by the depositories, in compliance with the ICDR Regulations, without any NOC from the exchange.

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