Description

BSE announces listing of 6,17,35,96,631 equity shares of Billionbrains Garage Ventures Limited with various lock-in periods ranging from 1 to 18 months.

Summary

BSE has listed 6,17,35,96,631 equity shares of Billionbrains Garage Ventures Limited with effect from November 10, 2025. The shares are subject to various lock-in periods ranging from 1 month to 18 months, with significant portions under lock-in until May 11, 2026 and May 11, 2027. The company is registered at Vaishnavi Tech Park, Bengaluru, Karnataka.

Key Points

  • Total equity shares listed: 6,17,35,96,631
  • Listing date: November 10, 2025
  • Multiple lock-in tranches with varying periods (1, 3, 6, and 18 months)
  • Shares available in both physical (3,61,12,725 shares) and demat formats
  • 81,581,720 equity shares allotted under ESOP schemes are not under lock-in as per SEBI regulations
  • Significant portion (approximately 36.47 crores shares) are fully paid-up and not under lock-in
  • Company Secretary: Roshan Bhanuprakash Dave (Membership No.: A26472)

Regulatory Changes

No regulatory changes. This circular implements existing SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, specifically Regulation 17 regarding ESOP lock-in exemptions.

Compliance Requirements

  • Lock-in details comply with SEBI regulations as specified in the company’s prospectus (pages 134-136)
  • Lock-in not applicable for IPO public shares and ESOP shares as per regulatory provisions
  • Physical shares under lock-in: 3,61,12,725 shares (lock-in until May 11, 2026)
  • Majority of shares are in demat format as per regulatory requirements

Important Dates

  • Listing Date: November 10, 2025
  • Lock-in Expiry (1 month): December 9, 2025
  • Lock-in Expiry (3 months): February 7, 2026
  • Lock-in Expiry (6 months): May 11, 2026
  • Lock-in Expiry (18 months): May 11, 2027
  • Prospectus Date: November 7, 2025

Impact Assessment

Market Impact: The listing of over 617 crore equity shares significantly expands the company’s public float. However, substantial lock-in provisions will limit immediate trading liquidity, with large tranches locked until May 2026 and May 2027.

Liquidity Impact: Approximately 44.74 crore shares (7.2% of total) are not under lock-in and available for immediate trading. The staggered lock-in expiry dates (December 2025, February 2026, May 2026, and May 2027) will result in phased liquidity increases.

Investor Considerations:

  • The 18-month lock-in period for certain tranches (totaling approximately 5.26 crore shares) indicates long-term commitment from promoters/investors
  • ESOP shares exemption enhances employee liquidity while maintaining regulatory compliance
  • Physical shares represent a small portion (approximately 0.6%) of total equity, indicating strong dematerialization compliance

Impact Justification

New equity listing with significant lock-in provisions affecting investor liquidity and trading dynamics