Description
Listing of 1,28,68,000 equity shares of Ind-Swift Laboratories Ltd issued at Rs. 121/- per share on preferential basis pursuant to conversion of warrants, effective October 7, 2025.
Summary
BSE announces the listing of 1,28,68,000 new equity shares of Ind-Swift Laboratories Ltd (Scrip Code: 532305) effective October 7, 2025. These shares were issued at Rs. 121/- per share (face value Rs. 10/- + premium Rs. 111/-) to promoters and non-promoters on a preferential basis pursuant to conversion of warrants. The allotment was completed in three tranches between July and August 2025, with varying lock-in periods of 1-2 years.
Key Points
- Total shares listed: 1,28,68,000 equity shares of Rs. 10/- each
- Issue price: Rs. 121/- per share (Rs. 10/- face value + Rs. 111/- premium)
- Allotment method: Preferential basis to promoters and non-promoters
- Basis: Conversion of warrants
- ISIN: INE915B01019
- Distinctive Numbers: 60618861 to 73486860
- Trading commencement: October 7, 2025
- Ranking: Pari-passu with existing equity shares
Regulatory Changes
No regulatory changes introduced. This is a standard listing notification following SEBI preferential allotment regulations.
Compliance Requirements
- Trading members must note the new securities for trading from October 7, 2025
- Lock-in provisions must be observed as per the specified schedule
- All shares rank pari-passu with existing equity shares for dividend, voting, and other rights
Important Dates
- July 2, 2025: First allotment of 65,82,876 shares
- July 21, 2025: Second allotment of 51,85,124 shares
- August 1, 2025: Third allotment of 11,00,000 shares
- October 7, 2025: Trading commencement date
- April 10, 2026: Lock-in expiry for 99,68,000 shares (shares allotted to non-promoters)
- April 10, 2027: Lock-in expiry for 29,00,000 shares (shares allotted to promoters)
Lock-in Schedule
| Number of Shares | Distinctive Numbers | Lock-in Expiry |
|---|---|---|
| 11,00,000 | 60618861-61718860 | April 10, 2027 |
| 54,82,876 | 61718861-67201736 | April 10, 2026 |
| 7,00,000 | 67201737-67901736 | April 10, 2027 |
| 44,85,124 | 67901737-72386860 | April 10, 2026 |
| 11,00,000 | 72386861-73486860 | April 10, 2027 |
Impact Assessment
Market Impact: The listing of 1.29 crore shares represents significant equity dilution for existing shareholders. The preferential allotment at Rs. 121/- per share will increase the company’s equity base and provide capital for growth initiatives. The staggered lock-in periods (with approximately 77% of shares locked until April 2026 and 23% until April 2027) will limit immediate selling pressure.
Liquidity Impact: Medium-term impact on stock liquidity as locked-in shares cannot be traded until respective lock-in expiry dates. Post lock-in, increased float may enhance liquidity.
Investor Consideration: Existing shareholders should assess the dilution impact on their holdings and the intended use of proceeds from warrant conversion. The preferential allotment to both promoters and non-promoters indicates mixed shareholding pattern changes.
Impact Justification
Significant preferential allotment representing new equity issuance with lock-in provisions; material for existing shareholders due to dilution but routine corporate action