Description

Indiabulls Limited lists 222.39 crore equity shares of Rs. 2/- each pursuant to a Scheme of Arrangement involving multiple entities, effective December 26, 2025.

Summary

BSE has approved the listing of 222,39,39,879 equity shares of Rs. 2/- each of Indiabulls Limited (Scrip Code: 533520) pursuant to a Scheme of Arrangement under sections 230-232 of the Companies Act, 2013. The scheme involves 20 entities including Dhani Services Limited, Indiabulls Enterprises Limited, and 18 other companies. The new shares will be listed and permitted for trading from December 26, 2025, and rank pari-passu with existing equity shares. The ISIN number is INE126M01010.

Key Points

  • 222,39,39,879 equity shares of Rs. 2/- each to be listed
  • Listing effective date: December 26, 2025 (Friday)
  • Shares issued pursuant to Scheme of Arrangement involving 20 entities
  • New shares rank pari-passu with existing equity shares
  • ISIN Number: INE126M01010
  • Distinctive Numbers: 100442260 to 2324382138
  • Date of Allotment: November 4, 2025
  • Scrip Code: 533520

Regulatory Changes

No regulatory framework changes. This is a corporate action implementing a court-approved Scheme of Arrangement under sections 230-232 of the Companies Act, 2013.

Compliance Requirements

  • Market participants must note the listing of new securities from December 26, 2025
  • Lock-in compliance: 13,23,00,000 shares (distinctive numbers 816569214 to 948869213) are locked-in until April 15, 2027
  • Trading members must update systems to reflect increased share capital

Important Dates

  • December 24, 2025: Notice date
  • November 4, 2025: Allotment date
  • December 26, 2025: Listing and trading commencement date
  • April 15, 2027: Lock-in expiry for 13.23 crore shares

Impact Assessment

Market Impact: High - The listing of 222.39 crore shares represents a substantial increase in the outstanding shares of Indiabulls Limited, which will significantly impact the company’s market capitalization and free float. This is a major corporate restructuring involving 20 entities.

Liquidity Impact: The addition of such a large number of shares will substantially increase the total equity base, though 13.23 crore shares are locked-in until April 2027, which moderates immediate supply pressure.

Operational Impact: Market participants need to account for the dilution effect and recalibrate position limits, risk management parameters, and valuation metrics based on the expanded share capital.

Entities Involved in Scheme: Dhani Services Limited, Indiabulls Enterprises Limited, Savren Medicare Limited, Auxesia Soft Solutions Limited, Gyansagar Buildtech Limited, Pushpanjli Finsolutions Limited, Devata Tradelink Limited, Evinos Developers Limited, Milky Way Buildcon Limited, Indiabulls Consumer Products Limited, Indiabulls Infra Resources Limited, Jwala Technology Systems Private Limited, Mabon Properties Limited, YDI Consumer India Limited, Indiabulls General Insurance Limited, Indiabulls Life Insurance Company Limited, Juventus Estate Limited, India Land Hotels Mumbai Private Limited, Indiabulls Pharmacare Limited, and Indiabulls Limited.

Impact Justification

Large-scale listing of 222.39 crore shares following a complex scheme of arrangement involving 20 entities, with significant lock-in provisions and material impact on shareholding structure