Description

4.5 crore equity shares of Dhani Services Limited issued on preferential basis pursuant to warrant conversion will be listed and permitted to trade from October 14, 2025.

Summary

BSE has approved the listing of 4,50,00,000 (4.5 crore) equity shares of Dhani Services Limited (Scrip Code: 532960) issued to promoters on a preferential basis pursuant to conversion of warrants. These shares will be listed and permitted to trade on the Exchange from Tuesday, October 14, 2025. The shares were allotted in two tranches in September 2025 at an issue price of Rs. 90.30 per share and are subject to lock-in until April 15, 2027.

Key Points

  • Total shares listed: 4,50,00,000 equity shares of Rs. 2/- each
  • Issue price: Rs. 90.30 per share (face value Rs. 2/- + premium of Rs. 88.30/-)
  • Allotment to: Promoters on preferential basis
  • Basis: Conversion of warrants
  • First allotment: 2,25,00,000 shares on September 17, 2025 (Dist. Nos. 703783413 to 748783412)
  • Second allotment: 2,25,00,000 shares on September 22, 2025
  • ISIN: INE274G01010
  • Ranking: Pari-passu with existing equity shares
  • Lock-in period: All shares locked-in until April 15, 2027

Regulatory Changes

No regulatory changes introduced. This is a standard listing notification for new securities issued pursuant to warrant conversion.

Compliance Requirements

  • Trading members must note the listing of new securities effective October 14, 2025
  • Lock-in restrictions apply to all 4.5 crore shares until April 15, 2027
  • Shares cannot be transferred or sold by promoters during the lock-in period

Important Dates

  • September 17, 2025: First tranche allotment (2.25 crore shares)
  • September 22, 2025: Second tranche allotment (2.25 crore shares)
  • October 14, 2025: Trading commencement date
  • April 15, 2027: Lock-in expiry date for all shares

Impact Assessment

Market Impact: Medium. The listing adds 4.5 crore shares to the total equity base of Dhani Services Limited, representing potential dilution for existing shareholders. However, the immediate market impact is mitigated as all shares are allotted to promoters with a lock-in period until April 2027.

Liquidity Impact: Low to medium. While the shares increase the company’s equity capital, they will not contribute to free float or tradable volumes until the lock-in expires in April 2027.

Promoter Impact: Positive for promoters who have converted warrants to equity at Rs. 90.30 per share, increasing their stake in the company.

Investor Consideration: Investors should factor in the expanded equity base when evaluating per-share metrics. The lock-in provides stability by preventing immediate selling pressure from the new issuance.

Impact Justification

Significant dilution of 4.5 crore shares but issued to promoters with lock-in until April 2027, limiting immediate market impact