In-principle approval received for preferential issue of 16,45,000 shares to promoters
BSE and NSE have granted "In-Principle" approval for a preferential issue of shares to the Promoters.
By ScoutQuest · · 2 min read
- Number of Shares
- 16,45,000 equity shares
- Face Value
- Rs. 10/- each
- Issue Price
- not less than Rs. 60/- per share (including premium)
What was announced
The company has informed BSE Limited and National Stock Exchange of India Limited that both exchanges have granted "In-Principle" approval for a proposed preferential issue of equity shares to the Promoters of the Company.
The issue in numbers
- 16,45,000 equity shares (Sixteen Lakhs Forty Thousand)
- Face value: Rs. 10/- each
- Issue price: not less than Rs. 60/- per share, including premium
- Allottees: the Promoters of the Company
The approval letters are dated 12th October, 2026.
What in-principle approval means
It is the exchanges' clearance for the proposed issue. It is not the issue itself. The shares have not been allotted yet. The company still has to complete the process, allot the shares, and then apply for listing them.
Conditions the exchanges have set
- File the listing application at the earliest from the date of allotment
- Obtain statutory and other approvals, including from authorities such as SEBI, RBI and MCA
- Comply with applicable guidelines, regulations and directions as on the date of the listing application
- Submit documents the exchange may require and pay applicable fees
The company is also advised to strengthen internal controls to monitor trades by the proposed allottees, and to obtain an undertaking from the allottees that they will not do intra-day trading in the scrip or sell shares in the scrip till the allotment date.
The exchanges have said they 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 if it contravenes applicable rules and regulations.
Why the allotment price is watched
The shares are to be issued at not less than Rs. 60/- each, against a face value of Rs. 10/- each, so the price includes a premium over face value. Since the shares are going to the Promoters, this is a promoter-group subscription to new shares rather than a sale by existing shareholders.
Timeline
- The listing application is required to be made within twenty days from the date of allotment
- Any non-compliance with that requirement can attract the fine mentioned in the referenced SEBI circular
- Listing of the shares is also linked to the allottees not trading in the scrip as mentioned above
What retail investors may take away
This intimation marks one more step in the preferential issue process. The key events still ahead are the actual allotment of the 16,45,000 shares and the listing of those shares. The number of equity shares of the company increases when the shares are allotted, so the share capital base will change at that stage.
Also from Vaswani Industries
Board approves preferential allotment of 16.45 lakh equity shares to promoters
23 Oct 2026
Board approves allotment of 16.45 lakh equity shares on preferential basis to promoters
23 Oct 2026
More numbers
- Equity shares proposed to be issued on preferential basis16,45,000
- Face value per equity shareRs. 10/-
- Issue price per share, not less thanRs. 60/-
- Time to file listing application from date of allotmenttwenty days
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