Received in-principle approval from NSE for preferential issue of up to 28,98,717 warrants

The company has received in-principle approval from NSE Limited for a preferential issue of up to 28,98,717 warrants, convertible into 28,98,717 equity shares of Rs. 10/- each, at a price of Rs. 147/- each, to non-promoters.

Sat 3 Oct 2026

Warrants Approved

up to 28,98,717 warrants

Convertible Into

28,98,717 equity shares

Face Value

Rs. 10/- each

Issue Price

Rs. 147/- each

Allottees / Approval

preferential issue to non-promoters; in-principle approval from NSE Limited

What the company has informed

• The company has received in-principle approval from NSE Limited for a preferential issue.
• The approval letter is dated October 01, 2026.
• The approval covers a preferential issue of up to 28,98,717 warrants to non-promoters.

Terms of the proposed issue

• Warrants: up to 28,98,717 warrants.
• Convertible into 28,98,717 equity shares.
• Face value of each equity share: Rs. 10/-.
• Price: Rs. 147/- each.
• Allottees: non-promoters, on a preferential basis.

The issue is described as "up to" 28,98,717 warrants, so the number finally issued is the number stated as the ceiling here.

What a warrant means

A warrant is a right to receive an equity share later, usually after payment of the balance amount. Until a warrant is converted, it is not an equity share. So 28,98,717 equity shares is the number the company would issue if the warrants are converted.

What in-principle approval means

In-principle approval from the exchange means the exchange has cleared the proposal at this stage, allowing the company to proceed with the proposed preferential issue. A preferential issue means shares (or warrants convertible into shares) are offered to selected persons rather than to all shareholders.

What investors may note

• If the warrants are converted, new equity shares enter the company's share base.
• Adding shares can change the percentage holding of existing shareholders.
• The proposed allottees are non-promoters, and the price stated is Rs. 147/- each, against a face value of Rs. 10/- each.

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