Description
BSE admits 18,50,000 new equity shares of Upsurge Investment And Finance Ltd. for trading effective April 17, 2026, issued on a preferential basis via conversion of warrants at Rs. 73/- per share.
Summary
BSE has listed 18,50,000 new equity shares of Upsurge Investment And Finance Ltd. (Scrip Code: 531390, ISIN: INE890B01014) for trading on the Exchange effective Friday, April 17, 2026. The shares were issued on a preferential basis to Promoter and Non-Promoter shareholders pursuant to the conversion of warrants, at an issue price of Rs. 73/- per share (face value Rs. 10/- + premium of Rs. 63/-).
Key Points
- Scrip Code: 531390 | ISIN: INE890B01014
- New Shares Listed: 18,50,000 equity shares of Rs. 10/- each
- Issue Price: Rs. 73/- per share (Rs. 10/- face value + Rs. 63/- premium)
- Allotment Basis: Preferential allotment pursuant to conversion of warrants to Promoter and Non-Promoter
- Date of Allotment: 23 February 2026
- Distribution Numbers: 20071401 to 21921400
- Pari-passu Status: New shares rank pari-passu with existing equity shares
- Trading Effective From: Friday, April 17, 2026
Regulatory Changes
No new regulatory changes introduced. This is a standard listing notice under BSE’s Listing Operations framework permitting newly allotted preferential shares to trade on the Exchange.
Compliance Requirements
- Trading members are informed that the new securities are admitted to trading from April 17, 2026
- Lock-in restrictions must be observed as specified below; these shares cannot be traded until the respective lock-in expiry dates
- The issuer company has complied with allotment and listing formalities as required under SEBI (Issue of Capital and Disclosure Requirements) Regulations
Important Dates
| Event | Date |
|---|---|
| Date of Allotment | 23 February 2026 |
| Trading Commencement | 17 April 2026 |
| Lock-in Expiry (50,000 shares – Dist. Nos. 21871401–21921400) | 15 November 2026 |
| Lock-in Expiry (18,00,000 shares – Dist. Nos. 20071401–21871400) | 15 November 2027 |
Impact Assessment
Share Capital Dilution: The addition of 18,50,000 shares increases the total listed equity of Upsurge Investment And Finance Ltd., which may have a dilutive effect on existing shareholders’ percentage holding.
Lock-in Overhang: The majority of newly issued shares (18,00,000 out of 18,50,000) are locked in until November 15, 2027, limiting near-term selling pressure. Only 50,000 shares become freely tradable after November 15, 2026.
Price Reference: The preferential issue price of Rs. 73/- serves as a cost reference for promoter/non-promoter allottees and may act as a support level in the near term.
Market Impact: Limited broader market impact; this is a company-specific event for a small-cap finance company. Trading members should update their records to reflect the new share distribution numbers.
Impact Justification
Routine preferential allotment listing notice affecting a single mid/small-cap company; introduces 18.5 lakh new shares with lock-in, moderately dilutive to existing shareholders but limited broader market impact.