In-principle approval from BSE, NSE for proposed preferential issue of 24,39,750 shares

Standard Engineering Technology Ltd has received in-principle approval from BSE and NSE for a proposed preferential issue of 24,39,750 equity shares at Rs. 293/- each to two non-promoter allottees for cash consideration.

Sat 3 Oct 2026

Preferential Issue Size

24,39,750 fully paid-up equity shares

Issue Price

Rs. 293/- per equity share

Face Value

Rs. 10/- each

Premium

Rs. 283/- per equity share

Proposed Allottees

AGI Group Holdings Inc. (22,77,100 equity shares) and Monoflus Pte. Ltd. (1,62,650 equity shares)

In-principle approval received for a proposed preferential issue

Standard Engineering Technology Limited has informed the stock exchanges that it has received in-principle approval from BSE Limited and National Stock Exchange of India Limited for a proposed preferential issue of equity shares.

What the approval covers

• Issue of 24,39,750 fully paid-up equity shares
• Face value of Rs. 10/- each
• Issue price of Rs. 293/- per equity share, which includes a premium of Rs. 283/- per equity share
• For cash consideration, on a preferential basis
• To proposed allottees in the non-promoter category

Who the shares are proposed to be issued to

• AGI Group Holdings Inc. — 22,77,100 equity shares
• Monoflus Pte. Ltd. — 1,62,650 equity shares
• Total — 24,39,750 equity shares

What happens next

The company will proceed with the allotment of the said equity shares upon receipt of the requisite consideration from the proposed allottees, in compliance with the provisions of Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and other applicable laws.

Conditions alongside the approval

The exchange approvals come with conditions, including update the listing application at the earliest from the date of allotment, receipt of statutory and other approvals and compliance with guidelines and regulations of statutory authorities, compliance with applicable regulations as on the date of the listing application, submission of documents as may be required by the exchange and payment of applicable fees.

The exchanges have also advised the company to strengthen internal controls to monitor trades being executed by the proposed allottees in the scrip before allotment of securities, and to obtain an undertaking from the allottees confirming that they shall not do intra-day trading in the scrip or any sale in the scrip till the allotment date. The responsibility to verify this onus is on the issuer company. The exchanges note that any non-compliances observed may impact the listing of such shares.

Both exchanges reserve the right to withdraw the in-principle approval at a later stage if the information submitted is found to be incomplete, incorrect, misleading or false, or in contravention of rules, bye-laws and regulations.

How to read this

An in-principle approval is one step in the process of the proposed preferential issue. The shares are proposed to be allotted only upon receipt of the requisite consideration. The proposed allottees belong to the non-promoter category, and the issue is for cash consideration.

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