Description

Listing of 11,41,552 equity shares of Max Estates Limited issued at Rs. 657/- on preferential basis pursuant to conversion of warrants, effective December 23, 2025.

Summary

BSE has approved the listing of 11,41,552 new equity shares of Max Estates Limited (Scrip Code: 544008) issued at a premium on preferential basis to non-promoters 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/- face value issued at premium of Rs. 647/-
  • Total issue price: Rs. 657/- per share
  • Issued to non-promoters on preferential basis pursuant to warrant conversion
  • Distribution Numbers: 161046445 to 162187996
  • Date of Allotment: October 10, 2025
  • ISIN: INE03EI01018
  • Shares rank pari-passu with existing equity shares
  • Trading permitted from December 23, 2025

Regulatory Changes

No regulatory changes introduced. This is a standard listing notification following SEBI guidelines for preferential allotment and warrant conversion.

Compliance Requirements

  • Trading members are informed of the new securities available for trading
  • All 11,41,552 shares are subject to mandatory lock-in until June 24, 2026
  • Standard trading and settlement procedures apply for these securities

Important Dates

  • Allotment Date: October 10, 2025
  • Trading Commencement: December 23, 2025
  • Lock-in Expiry: June 24, 2026

Impact Assessment

The listing represents a moderate increase in Max Estates Limited’s equity capital through warrant conversion. The lock-in period until June 24, 2026 ensures these shares will not impact market liquidity in the near term. This is a standard corporate action with minimal immediate market impact, as the shares were issued to non-promoters on preferential basis and will remain locked for approximately 6 months from the trading commencement date.

Impact Justification

Routine listing of new securities from warrant conversion on preferential basis to non-promoters with standard lock-in period. Limited market impact due to relatively small issuance and lock-in restrictions until June 2026.