Description

Sanmitra Commercial Ltd. (Scrip Code: 512062) to list 4,86,72,500 new equity shares on BSE effective December 10, 2025, issued through share swap and preferential allotment.

Summary

BSE has approved the listing of 4,86,72,500 new equity shares of Sanmitra Commercial Ltd. (Scrip Code: 512062) effective December 10, 2025. The securities comprise shares issued through share swap to promoters and preferential allotments to both promoters and non-promoters at different issue prices. All new shares rank pari-passu with existing equity shares and are subject to lock-in periods ranging from June 2026 to June 2027.

Key Points

  • Total of 4,86,72,500 new equity shares of Rs. 10/- each to be listed
  • 2,97,41,799 shares issued to promoters via share swap at Rs. 15/- (Rs. 10/- face value + Rs. 5/- premium)
  • 21,25,000 shares issued to promoters on preferential basis at Rs. 15/-
  • 1,68,05,701 shares issued to non-promoters on preferential basis at Rs. 40/- (Rs. 10/- face value + Rs. 30/- premium)
  • Date of allotment: October 17, 2025
  • ISIN: INE896J01014
  • Distinctive numbers assigned: 1100001 to 49772500
  • All shares rank pari-passu with existing equity shares

Regulatory Changes

No regulatory changes introduced. This circular announces compliance with existing listing requirements for new securities.

Compliance Requirements

  • Market participants must note the listing of new securities for trading purposes
  • Lock-in restrictions must be enforced as per specified timelines
  • Trading systems to be updated to reflect increased share capital

Important Dates

  • Allotment Date: October 17, 2025
  • Listing Date: December 10, 2025 (Wednesday)
  • Lock-in Expiry (Promoters): June 30, 2027 for 3,18,66,799 shares (Distinctive Nos. 1100001 to 32966799)
  • Lock-in Expiry (Non-Promoters): June 30, 2026 for 1,68,05,701 shares (Distinctive Nos. 32966800 to 49772500)

Impact Assessment

Market Impact: The listing represents a substantial increase in share capital, with promoters receiving shares at Rs. 15/- while non-promoters paid Rs. 40/-, indicating significant premium for outside investors. The differential pricing suggests strong promoter involvement in capital restructuring.

Liquidity Impact: While 4.87 crore new shares are being added, the lock-in periods will restrict immediate tradability. 3.19 crore promoter shares locked until mid-2027 and 1.68 crore non-promoter shares locked until mid-2026 will limit free float in the near term.

Capital Structure Impact: The share swap component (2.97 crore shares) suggests possible consolidation or acquisition activity. The preferential allotment raises significant capital at premium valuations, potentially for business expansion or debt reduction.

Investor Considerations: Existing shareholders should note potential dilution effects. The 2.67x price differential between promoter and non-promoter issue prices warrants scrutiny of the company’s valuation rationale and use of proceeds.

Impact Justification

Significant equity issuance of 4.87 crore shares with substantial promoter participation and lock-in periods, likely to impact stock liquidity and capital structure