RRRaymond Realty544420Preferential allotment

In-principle approval from BSE and NSE for preferential issue of convertible warrants

BSE and NSE have given their in-principle approval, both dated October 23, 2026, for the preferential issue of ~66.57 lakh convertible warrants on a private placement basis.

By ScoutQuest · Fri 23 Oct 2026, 10:52 PM IST · 2 min read

Warrants Approved

~66.57 lakh convertible warrants on a private placement basis

Conversion Price

not less than Rs. 614/-

Face Value / Approval Date

Rs. 10/- each; in-principle approval dated October 23, 2026

What happened

BSE and NSE have each granted their in-principle approval, both dated October 23, 2026, for the company's preferential issue of ~66.57 lakh convertible warrants on a private placement basis. The company had earlier informed the exchanges about the board approval, the notice of the Extra-Ordinary General Meeting, the EGM proceedings held on October 08, 2026, and the approval of an increase in the authorised share capital along with the preferential issue.

Key terms of the issue

• ~66.57 lakh convertible warrants are being issued on a private placement basis.
• On conversion, these become ~66.57 lakh equity shares of face value Rs. 10/- each.
• The price on conversion is not less than Rs. 614/-.
• The BSE letter describes the allotment as being to promoters on a preferential basis.
• Shareholders approved the issue and the increase in authorised share capital at the EGM held on October 08, 2026.

Conditions the exchanges have attached

• The company must file the listing application at the earliest from the date of allotment, and within twenty days of allotment as per the applicable SEBI circular.
• Statutory and other approvals, including from SEBI, RBI and MCA, and compliance with applicable regulations must be in place.
• The company must strengthen internal controls to monitor trades by the proposed allottees before allotment.
• It must obtain an undertaking from the allottees that they will not do intra-day trading in the scrip, or any sale in the scrip, till the allotment date.
• The onus of verifying this rests solely on the company. Any non-compliance observed by the exchanges may impact the listing of such shares.

What this approval means

An in-principle approval is the exchanges' go-ahead for the issue itself. The BSE letter states it should not be construed as approval for listing of the securities, and that listing requires separate compliance. Both exchanges reserve the right to withdraw the in-principle approval if the information submitted is found to be incomplete, incorrect or misleading.

What to watch next

• The actual allotment of the warrants.
• The conversion of warrants into equity shares, which is when the share count rises.
• Update of the listing application and the subsequent listing of the shares.

In simple terms, this is a procedural milestone: the two exchanges have cleared the proposed preferential issue of warrants to promoters, and the company can now proceed, subject to the conditions listed above. Since the shares are issued to promoters on conversion, existing shareholders should note the increase in the total number of equity shares once conversion happens.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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