Description
Listing and trading of 11,41,552 equity shares of Max Estates Limited issued on preferential basis pursuant to conversion of warrants, effective December 23, 2025.
Summary
BSE has approved the listing of 11,41,552 equity shares of Max Estates Limited (Scrip Code: 544008) issued to Non Promoters on a preferential basis pursuant to conversion of warrants. The shares will be available for trading from December 23, 2025, and are subject to a lock-in period until June 24, 2026.
Key Points
- 11,41,552 equity shares of Rs. 10/- each issued at a premium of Rs. 647/-
- Total issue price: Rs. 657.00 per share
- Issued to Non Promoters on preferential basis
- Shares issued pursuant to conversion of warrants
- New shares rank pari-passu with existing equity shares
- Distribution Numbers: 161046445 to 162187996
- ISIN: INE03EI01018
Regulatory Changes
No regulatory changes introduced by this circular.
Compliance Requirements
- Trading members are informed of the new securities listing
- Lock-in restrictions must be observed until June 24, 2026
- All 11,41,552 shares (Dist. Nos. 161046445 to 162187996) are subject to lock-in
Important Dates
- Date of Allotment: October 10, 2025
- Trading Commencement: December 23, 2025
- Lock-in Expiry: June 24, 2026
Impact Assessment
Market Impact: Low - This is a routine preferential allotment resulting from warrant conversion. The relatively small number of shares and the lock-in period until June 2026 limits immediate market impact.
Investor Impact: Low - Existing shareholders experience minimal dilution. The shares are locked-in for approximately 18 months from allotment, preventing immediate trading by allottees.
Operational Impact: Minimal - Standard listing procedure with no changes to trading operations or member obligations.
Impact Justification
Routine preferential allotment from warrant conversion representing minimal dilution (1.14M shares). Limited market impact due to lock-in period until June 2026.