Description
Listing 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 lock-in restrictions until June 24, 2026.
Key Points
- 11,41,552 equity shares of Rs. 10/- each issued at a premium of Rs. 647/-
- Issued to non-promoters on preferential basis through warrant conversion
- Shares ranking pari-passu with existing equity shares
- Distinguished numbers: 161046445 to 162187996
- Allotment date: October 10, 2025
- Issue price: Rs. 657.00 per share
- ISIN: INE03EI01018
- Scrip Code: 544008
Regulatory Changes
No regulatory changes introduced by this circular.
Compliance Requirements
- Trading members are informed of the new securities listing
- All 11,41,552 shares are subject to mandatory lock-in provisions
- Shares cannot be transferred or sold until the lock-in period expires
Important Dates
- Allotment Date: October 10, 2025
- Trading Commencement: December 23, 2025
- Lock-in Expiry: June 24, 2026
Impact Assessment
This is a routine listing notification with minimal market impact. The preferential allotment represents warrant conversion by non-promoters, adding approximately 1.74% to the total share capital (assuming base of ~65 million shares). The lock-in period until June 2026 prevents immediate selling pressure. Trading members can facilitate transactions in these securities from December 23, 2025, subject to lock-in restrictions.
Impact Justification
Routine listing of preferential allotment shares from warrant conversion. Limited market impact with shares under lock-in until June 2026.