Description
BSE announces listing of 1.63 crore equity shares of Jain Irrigation Systems Ltd issued to promoters on preferential basis with lock-in until January 2027.
Summary
BSE has approved the listing of 1,63,21,607 new equity shares of Jain Irrigation Systems Ltd (Scrip Code: 500219) issued to promoters on a preferential basis. These shares, issued at Rs. 46.64 per share, are the result of warrant conversion and will commence trading on July 31, 2025, with a lock-in period until January 30, 2027.
Key Points
- 1,63,21,607 equity shares of Rs. 2 face value each issued at premium of Rs. 44.64
- Issue price: Rs. 46.64 per share
- Allotment date: May 22, 2025
- Trading commencement: July 31, 2025
- Shares issued pursuant to conversion of warrants on preferential basis to promoters
- New shares rank pari-passu with existing equity shares
- ISIN: INE175A01038
- Dist. Nos.: 698288385 to 714609991
Regulatory Changes
No new regulatory changes introduced. This is a standard listing notification following warrant conversion as per existing SEBI regulations for preferential allotments.
Compliance Requirements
- Trading members are informed of the new securities available for trading
- Promoters must comply with lock-in restrictions until January 30, 2027
- Standard disclosure and reporting requirements apply for the enlarged share capital
Important Dates
- Allotment Date: May 22, 2025
- Trading Commencement: July 31, 2025
- Lock-in Period Ends: January 30, 2027
Impact Assessment
The listing represents a significant increase in share capital through promoter preferential allotment. With a 20-month lock-in period, immediate market impact is limited as these shares cannot be traded by promoters. The conversion from warrants to equity shares provides additional capital to the company while maintaining promoter control during the lock-in period.
Impact Justification
Significant dilution of 1.63 crore shares but limited to promoter group with long lock-in period