Description

BSE announces listing of 222,39,39,879 equity shares of Indiabulls Limited from December 26, 2025, issued pursuant to a Scheme of Arrangement involving multiple entities.

Summary

BSE has approved the listing of 222,39,39,879 equity shares of Rs. 2/- each of Indiabulls Limited (Scrip Code: 533520) for trading with effect from December 26, 2025. These shares were issued pursuant to a Scheme of Arrangement under sections 230-232 of the Companies Act, 2013, involving Dhani Services Limited and 18 other entities including Indiabulls Limited and their respective shareholders and creditors. The newly listed shares rank pari-passu with existing equity shares.

Key Points

  • 222,39,39,879 new equity shares of Rs. 2/- each being listed
  • Shares issued under Scheme of Arrangement involving 19 entities
  • Trading permitted from Friday, December 26, 2025
  • ISIN Number: INE126M01010
  • Distinctive Numbers: 100442260 to 2324382138
  • Date of Allotment: November 4, 2025
  • Shares rank pari-passu with existing equity shares
  • Partial lock-in applicable on 13,23,00,000 shares

Regulatory Changes

No regulatory changes introduced. This is a standard listing notification following approval of a Scheme of Arrangement under the Companies Act, 2013.

Compliance Requirements

  • Market participants must note the addition of new securities for trading purposes
  • Lock-in restrictions must be observed for the specified shares until April 15, 2027
  • Standard trading and settlement procedures apply to the newly listed shares

Important Dates

  • Allotment Date: November 4, 2025
  • Trading Commencement: December 26, 2025 (Friday)
  • Lock-in Expiry: April 15, 2027 (for 13,23,00,000 shares with distinctive numbers 816569214 to 948869213)

Impact Assessment

Market Impact: The listing adds significant equity volume to Indiabulls Limited’s tradeable shares, which may impact liquidity and trading patterns. The issuance of over 222 crore shares represents a substantial increase in the company’s equity base.

Lock-in Consideration: Approximately 13.23 crore shares (5.94% of new issuance) are subject to lock-in until April 15, 2027, restricting their immediate tradability and potentially affecting supply-demand dynamics.

Corporate Restructuring: This listing is the outcome of a complex scheme of arrangement involving 19 entities, indicating significant corporate restructuring within the Indiabulls group and related entities. The scheme involved consolidation of multiple entities including Dhani Services Limited, various Indiabulls subsidiaries, and other group companies.

Impact Justification

Large equity listing involving scheme of arrangement with multiple entities, affects trading from December 26, 2025, with partial lock-in provisions.