BSE Listing Approval Received for 13,00,000 Equity Shares Issued to Promoter on Preferential Basis
BSE has granted listing approval for 13,00,000 equity shares of Rs. 2/- each, issued to the promoter on a preferential basis (distinctive nos. 3,04,53,001 to 3,17,53,000).
- Shares Issued
- 13,00,000 equity shares
- Share Par Value
- Rs. 2/- each
- Distinctive Numbers
- 3,04,53,001 to 3,17,53,000
- Allotment Type
- Preferential basis to promoter
What happened
BSE has granted listing approval for 13,00,000 equity shares of Rs. 2/- each, bearing distinctive numbers from 3,04,53,001 to 3,17,53,000. The BSE letter notes these shares were issued at par to the promoter on a preferential basis.
Conditions attached
- Approval is subject to confirmation from NSDL and CDSL that the shares are credited to beneficiary accounts.
- Trading approval will be granted only after the company files depository confirmations and, where applicable, confirmation of lock-in of pre-preferential holding.
- The company must apply for trading approval within seven working days from the date of listing approval.
- Compliance with Regulation 167 of SEBI (ICDR) Regulations is required, and the shareholding pattern must be shared in XBRL mode if the change exceeds two per cent of total paid-up share capital.
What it means for investors
This is a procedural step completing a preferential allotment to the promoter. Once the shares are credited and trading approval is given, the company's paid-up equity base widens by these 13,00,000 shares, which changes the proportionate holding of existing shareholders.
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More numbers
- Equity shares granted listing approval13,00,000 Equity Shares
- Face value per shareRs. 2/- each
- Deadline to apply for trading approvalseven working days
- Shareholding pattern XBRL update triggertwo per cent
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