Description
BSE notifies listing of 2,67,86,550 new equity shares of INOX Green Energy Services Limited effective March 12, 2026, issued on a preferential basis pursuant to conversion of warrants at Rs. 145 per share.
Summary
BSE has notified trading members that 2,67,86,550 new equity shares of INOX Green Energy Services Limited (Scrip Code: 543667, ISIN: INE510W01014) are listed and permitted to trade on the Exchange effective Thursday, March 12, 2026. These shares were issued on a preferential basis to Promoters and Non-Promoters pursuant to conversion of warrants at an issue price of Rs. 145 per share (face value Rs. 10 + premium of Rs. 135).
Key Points
- Total new shares listed: 2,67,86,550 equity shares
- Issue price: Rs. 145.00 per share (Rs. 10 face value + Rs. 135 premium)
- Allottees: Promoters and Non-Promoters (preferential basis)
- Basis: Conversion of warrants
- Pari-passu ranking: New shares rank pari-passu with existing equity shares
- Distribution Numbers: 374705496 to 401492045
- Trading effective from: March 12, 2026
Regulatory Changes
No new regulatory changes. This is a corporate action pursuant to a previously approved preferential allotment and warrant conversion under applicable SEBI regulations.
Compliance Requirements
- Trading members may trade these securities from March 12, 2026 onwards
- Lock-in restrictions apply to allottees as per SEBI (ICDR) Regulations and must be observed until the respective lock-in expiry dates
- Shares under lock-in are not freely tradeable until the lock-in period expires
Important Dates
| Allotment Date | No. of Shares | Distribution Numbers | Lock-in Expiry |
|---|---|---|---|
| 23 Jan 2026 | 68,96,550 | 374705496 – 381602045 | 14 Sep 2026 |
| 28 Jan 2026 | 1,98,90,000 | 381602046 – 401492045 | 14 Sep 2027 |
- Trading commencement date: March 12, 2026
Impact Assessment
The listing of approximately 2.68 crore new equity shares represents a dilution of the existing share capital of INOX Green Energy Services Limited. The bulk of the newly issued shares (1,98,90,000 shares) are under lock-in until September 2027, limiting their immediate market impact. Only 68,96,550 shares have a shorter lock-in until September 2026. Market liquidity impact is moderate in the near term given the significant portion under long-term lock-in. Existing shareholders face dilution, while the company has raised capital through warrant conversion at Rs. 145 per share.
Impact Justification
Routine listing of new equity shares via preferential allotment following warrant conversion; affects existing shareholders through dilution but is a pre-approved corporate action with defined lock-in periods.