String Metaverse534535Preferential allotment
BSE grants in-principle approval for preferential issue of 8,32,03,383 shares to non-promoters
BSE has granted its in-principle approval for a proposed preferential issue of equity shares.
By ScoutQuest · · 2 min read
- Number of equity shares
- 8,32,03,383
- Face value per share
- Re. 1/- each
- Issue price
- not less than Rs.8.85/- each
What the company has informed the exchange
- BSE has granted its in-principle approval for a proposed preferential issue of equity shares to non-promoter investors. The approval is under Regulation 28(1) of the SEBI (LODR) Regulations, 2015.
- The company has said the approval came through BSE's letter dated 14th October 2026 and has enclosed a copy of that letter.
The proposed issue in numbers
- Number of equity shares: 8,32,03,383
- Face value per share: Re. 1/- each
- Price: not less than Rs.8.85/- each
- Allottees: non-promoters, on a preferential basis
What an in-principle approval means
- It is an early go-ahead from the stock exchange for the proposed issue.
- BSE has said this approval should not be construed as its approval for listing of the securities, and that separate compliance is required for listing.
- The issue and allotment still have to be carried out, and the company has to apply for listing of the shares after allotment.
Conditions BSE has set out
- The company is advised to obtain an undertaking from the allottee(s) confirming that they shall not do intra-day trading in the scrip, or any sale of the scrip, till the allotment date.
- The responsibility and onus for verifying this lies solely on the issuer company.
- Any non-compliance observed by the exchanges after the undertaking and verification may impact the listing of such shares.
- The company must make the listing application within twenty days from the date of allotment, with the specified documents; non-compliance attracts a fine as mentioned in the referred SEBI circular.
- BSE may withdraw this in-principle approval at any stage if the information submitted is found incomplete, incorrect, misleading or false, or if it contravenes rules, bye-laws and regulations.
How a retail reader can view it
- A preferential issue means new equity shares are proposed to be issued to a specific set of investors. The update identifies those investors as non-promoters.
- The update gives the size of the issue in shares (8,32,03,383) and the minimum price (Rs.8.85/- each), which are the two figures to note.
- The approval recorded here is a step in the process. The issue, the allotment and the listing of the shares are subsequent steps.
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More numbers
- Equity shares proposed to be issued on preferential basis8,32,03,383
- Face value per equity shareRe. 1/-
- Minimum issue price per shareRs.8.85/-
- Time limit to apply for listing from date of allotmenttwenty days
Source: BSE · 14 Oct 2026
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