BSE grants final listing approval for 6,00,000 preferential equity shares
BSE Limited has granted its final listing approval for 6,00,000 equity shares of Jumbo Bag Ltd allotted on a preferential basis.
- Shares Approved for Listing
- 6,00,000 equity shares of face value ₹10/- each
- Issue Price
- ₹61/- per share, including a premium of ₹51/- per share
- Face Value
- ₹10/- each
Key points from the update
- BSE Limited has granted its final listing approval for 6,00,000 equity shares of face value ₹10/- each.
- These shares were issued and allotted to promoters and non-promoters on a preferential basis, pursuant to the conversion of warrants.
- Issue price: ₹61/- per share, which includes a premium of ₹51/- per share.
- The shares bear distinctive numbers from 8373701 to 8973700.
- The company states that its listed equity share capital stands increased, and the newly allotted shares rank pari-passu in all respects with the existing equity shares.
- The corporate actions for credit/unlocking of these shares in dematerialised form are being processed concurrently.
What listing approval means
This is the exchange's clearance for these shares to be listed. Trading approval is a separate, later step: BSE's letter states that trading approval for these shares will be granted only after the company files the listing approval from the National Stock Exchange of India Ltd. (if applicable), confirmation letters from NSDL/CDSL about crediting the shares to the respective beneficiary accounts, and confirmation letters from NSDL/CDSL about lock-in of pre-preferential holding (if applicable).
Why shareholders may track this
- A preferential allotment adds to the number of listed equity shares, so an existing holding represents a smaller proportion of the expanded share capital.
- The shares are issued at ₹61/- per share against a face value of ₹10/- each, so a large part of the issue price is premium.
- The update states the allotment went to both promoters and non-promoters.
- Because the new shares rank pari-passu, they carry the same rights as the shares already listed.
What happens next
The company has said the corporate actions for credit and unlocking of these shares in demat form are being processed, which is the step before the shares can be dealt in on the exchange once trading approval is in place.
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More numbers
- Equity shares for which listing approval was received6,00,000 Equity Shares
- Face value per equity share₹10/- each
- Issue price per share on warrant conversion₹61/- per share
- Premium per share included in the issue price₹51/- per share
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