Description
BSE lists 11,41,552 new equity shares of Max Estates Limited (Scrip Code 544008) issued to promoters on a preferential basis via conversion of warrants, effective February 25, 2026, with lock-in until August 31, 2027.
Summary
BSE has notified trading members that 11,41,552 new equity shares of Max Estates Limited (Scrip Code: 544008, ISIN: INE03EI01018) are listed and permitted to trade on the Exchange with effect from Wednesday, February 25, 2026. These shares were issued to promoters on a preferential basis at Rs. 657/- per share (face value Rs. 10/- + premium Rs. 647/-) pursuant to conversion of warrants, with allotment dated January 6, 2026.
Key Points
- Company: Max Estates Limited (Scrip Code: 544008)
- New Shares Listed: 11,41,552 equity shares of Rs. 10/- each
- Issue Price: Rs. 657/- per share (Rs. 10/- face value + Rs. 647/- premium)
- Allottee: Promoters, on a preferential basis via conversion of warrants
- Distribution Numbers: 162289490 to 163431041
- Date of Allotment: January 6, 2026
- Trading Effective From: February 25, 2026
- Pari-passu: New shares rank equally with existing equity shares
- Lock-in Period: All 11,41,552 shares locked in until August 31, 2027
Regulatory Changes
No new regulatory changes. This is a standard listing notification following a completed preferential allotment approved under applicable SEBI and Companies Act regulations.
Compliance Requirements
- Trading members must note the addition of 11,41,552 new shares to the tradable pool from February 25, 2026.
- The locked-in shares (all 11,41,552) cannot be traded until August 31, 2027; brokers and depositories must ensure compliance with the lock-in restriction.
- ISIN INE03EI01018 applies to these new shares.
Important Dates
| Event | Date |
|---|---|
| Date of Allotment | January 6, 2026 |
| Listing / Trading Commencement | February 25, 2026 |
| Lock-in Expiry | August 31, 2027 |
Impact Assessment
The listing represents a modest dilution of the existing equity base of Max Estates Limited. Since all newly listed shares are held by promoters and subject to a lock-in until August 31, 2027, there is no immediate increase in free-float or selling pressure. Market impact is expected to be minimal in the short term. The preferential allotment at Rs. 657/- per share via warrant conversion indicates promoter confidence in the company at that price level.
Impact Justification
Routine preferential allotment listing notice for a moderate number of shares issued via warrant conversion to promoters; shares are locked in until August 2027, limiting immediate market impact.