Description

BSE lists 11,41,552 new equity shares of Max Estates Limited issued to Promoters on a preferential basis via conversion of warrants, effective February 25, 2026.

Summary

BSE has notified trading members that 11,41,552 new equity shares of Max Estates Limited (Scrip Code: 544008) 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 an issue price of Rs. 657/- per share (face value Rs. 10/- + premium of Rs. 647/-) pursuant to conversion of warrants.

Key Points

  • Company: Max Estates Limited (Scrip Code: 544008, ISIN: INE03EI01018)
  • Number of Shares: 11,41,552 equity shares
  • Face Value: Rs. 10/- each
  • Issue Price: Rs. 657/- per share (at a premium of Rs. 647/-)
  • Allotment Basis: Preferential allotment to Promoters via conversion of warrants
  • Pari-passu: New shares rank pari-passu with existing equity shares
  • Distribution Numbers: 162289490 to 163431041
  • Effective Trading Date: February 25, 2026

Regulatory Changes

No new regulatory changes introduced. This is a standard listing notice under BSE’s listing procedures for newly allotted securities.

Compliance Requirements

  • Trading members are informed to update their systems to reflect the new securities available for trading from February 25, 2026.
  • The allotted shares are subject to a lock-in period and cannot be traded until the lock-in expires.

Important Dates

  • Date of Allotment: January 6, 2026
  • Effective Listing/Trading Date: February 25, 2026
  • Lock-in Expiry: August 31, 2027

Impact Assessment

The listing adds 11,41,552 equity shares to Max Estates Limited’s share capital, issued to Promoters at Rs. 657/- per share via warrant conversion. Since all newly listed shares are under lock-in until August 31, 2027, there is no immediate increase in free-float or market liquidity. The preferential allotment to Promoters may slightly increase promoter shareholding percentage. Market impact is limited in the short term due to the lock-in restriction.

Impact Justification

Routine listing of newly allotted preferential shares via warrant conversion for Max Estates Limited. Shares are under lock-in until August 2027, limiting immediate market impact, but adds over 11 lakh shares to the tradeable universe from February 25, 2026.