Stellant Securities (India)526071Preferential allotment

BSE gives in-principle approval for preferential issue of shares and warrants

~12.89 lakh equity shares of Rs.10/- each at not less than Rs.602/- to non-promoters.

By ScoutQuest · Thu 22 Oct 2026, 6:23 PM IST · 2 min read

Non-promoter equity shares: ~12.89 lakh equity shares of Rs.10/- each at not less than Rs.602/- to non-promoters
Promoter warrants: ~3.49 lakh warrants convertible into equal equity shares at not less than Rs.602/- to promoters
Approval scope: BSE in-principle approval for the preferential issue, not for listing

What was announced

Stellant Securities (India) Ltd has informed the exchange that BSE Ltd has granted its in-principle approval for a preferential issue of equity shares and warrants. The approval was given by BSE's letter dated October 21, 2026, reference LOD/PREF/KS/FIP/986/2026-2027, and covers both promoter and non-promoter allottees.

The two parts of the issue

~12.89 lakh equity shares of face value Rs.10/- each, at a price not less than Rs.602/-, to non-promoters on a preferential basis.
~3.49 lakh warrants, convertible into ~3.49 lakh equity shares of face value Rs.10/- each, at a price not less than Rs.602/, to the promoters category on a preferential basis.

The non-promoter leg is a direct allotment of equity shares. The promoter leg is a warrant subscription, where the equity shares come into existence only when the warrants are converted.

What in-principle approval means

The company had applied to BSE for its go-ahead to the proposed issue. BSE states that this in-principle approval should not be construed as its approval for the listing of these securities, and that the company must separately comply with the listing requirements. The company has also been advised to ensure the issue and allotment are strictly in line with the Companies Act, 2013, the SEBI ICDR Regulations, 2018 and the SEBI LODR Regulations, 2015, and to obtain the other statutory and other approvals required.

Conditions attached by the exchange

The company must obtain an undertaking from the allottees that they will not do intra-day trading in the scrip, and will not sell the scrip, till the allotment date.
The onus of verifying this and ensuring compliance, including under Regulation 167(6) of the SEBI ICDR Regulations, 2018, rests on the issuer company.
Non-compliances observed after the undertaking and verification may impact the listing of such shares.
A listing application must be made without delay, with applicable fees, after allotment. As per Schedule XIX of the ICDR Regulations, the application is to be made within twenty days from the date of allotment, failing which a fine applies.
BSE can withdraw the in-principle approval at any stage if information is found incomplete, incorrect, misleading or false, or if it contravenes rules and regulations.

How a retail investor can read this

The issue brings in new equity shares, so the company's total share count rises once the shares are allotted and the warrants are converted.
The promoter leg is through warrants, so the promoter shares follow only on conversion; the non-promoter leg is a share allotment.
The price of the issue is stated as not less than Rs.602/- per share, which is described as a floor rather than a fixed final price.
An in-principle approval is an intermediate step in the exchange process; the sequence set out in the letter runs from the company's application, to allotment, to a listing application within twenty days of allotment.