In-principle approval received from BSE and NSE for 16,21,000 convertible warrants

Krsnaa Diagnostics has received in-principle approval from BSE and NSE for issuing 16,21,000 warrants convertible into 16,21,000 equity shares on a preferential basis to the Promoter and Promoter Group.

Thu 8 Oct 2026

Warrants approved for issue

16,21,000 warrants convertible into 16,21,000 equity shares

Issue price

Rs. 566/- each

Face value

Rs. 5/- per share

What the company has informed the exchanges

• Krsnaa Diagnostics has received in-principle approval from BSE Limited and the National Stock Exchange of India Limited for the issue of convertible warrants on a preferential basis.
• The approval covers 16,21,000 warrants, convertible into 16,21,000 equity shares.
• Each equity share has a face value of Rs. 5/-, and the issue price is Rs. 566/- each.
• The allottees are the Promoter and Promoter Group of the company, and the issue is made under Regulation 28(1), which deals with preferential allotment.

What an in-principle approval means

• This is an approval from the two exchanges for the proposed securities to be listed. It relates to a proposed issue of warrants, which are convertible into equity shares.
• The number of warrants and the number of shares they convert into are the same (16,21,000 each), so the structure is one warrant for one equity share.

A point the company has flagged

• The in-principle approval letter received from BSE contains certain factual errors that require rectification.
• The company has said the corrected letter will be intimated to the exchanges separately, once it is received.

What this could mean for investors

• The issue is directed at the promoter group, so if the warrants are converted, the promoter group's holding in the company would increase, which can be seen as a promoter confidence signal.
• At the same time, conversion of warrants into fresh equity shares increases the total number of shares, which other shareholders would see as dilution of their existing holding.
• Because the recipients are promoters, this is a related-party transaction and investors may look for the accompanying disclosures on the issue terms, pricing basis and any shareholder approval already taken.

Numbers to keep in mind

• Warrants to be issued: 16,21,000
• Equity shares on conversion: 16,21,000
• Face value per share: Rs. 5/-
• Issue price per share/warrant: Rs. 566/-
• Allottees: Promoter and Promoter Group, on a preferential basis

In short, this is an update that the exchange approval stage for a promoter preferential issue of convertible warrants has been crossed, with a note that the BSE letter needs a factual correction.

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