Description
K&R Rail Engineering Limited lists 96 lakh equity shares issued pursuant to scheme of arrangement with KVR Rail Infra Projects, effective November 28, 2025.
Summary
K&R Rail Engineering Limited (Scrip Code: 514360, formerly Axis Rail India Limited) is listing 96,00,000 new equity shares of Rs. 10/- each on BSE, effective November 28, 2025. These shares were issued pursuant to a scheme of arrangement with KVR Rail Infra Projects Private Limited, allotted on October 15, 2024. The shares rank pari-passu with existing equity shares and carry lock-in restrictions until November 30, 2026.
Key Points
- 96,00,000 equity shares of Rs. 10/- each to be listed and traded from November 28, 2025
- Shares issued under scheme of arrangement between K&R Rail Engineering Limited and KVR Rail Infra Projects Private Limited
- ISIN Number: INE078T01026
- Distinctive Numbers: 28509645 - 38109644
- Date of Allotment: October 15, 2024
- New shares rank pari-passu with existing equity shares
- Total locked-in shares: 1,67,61,677 shares across three tranches
Regulatory Changes
No regulatory changes introduced. This circular implements existing BSE listing requirements for securities issued under scheme of arrangement.
Compliance Requirements
- Trading members must note the new securities for trading from November 28, 2025
- Lock-in compliance: 75% of total promoter shareholding post-arrangement locked for 1 year from listing date as per BSE observation letter dated December 19, 2013
- All locked-in shares to remain restricted until November 30, 2026
Important Dates
- Allotment Date: October 15, 2024
- Listing Date: November 28, 2025 (Friday)
- Lock-in Expiry: November 30, 2026
Lock-in Details
| Number of Shares | Distinctive Numbers | Lock-in Until |
|---|---|---|
| 96,00,000 | 28509645-38109644 | 30.11.2026 |
| 12,00,000 | 21171330-22371329 | 30.11.2026 |
| 59,61,677 | 9818429-15780105 | 30.11.2026 |
| Total: 1,67,61,677 |
Impact Assessment
Market Impact: Medium - The listing of 96 lakh new shares increases the equity base of K&R Rail Engineering Limited. However, with 1.67 crore shares (including these new shares) locked until November 2026, the immediate free float impact is minimal.
Liquidity Impact: The lock-in on significant promoter holdings (75% of post-arrangement promoter shareholding) ensures stability and prevents immediate dilution pressure on the stock.
Operational Impact: This listing completes the scheme of arrangement between K&R Rail Engineering Limited and KVR Rail Infra Projects Private Limited, reflecting corporate restructuring activities.
Impact Justification
New equity listing from scheme of arrangement with significant lock-in period affecting 1.67 crore shares until November 2026