Description

NSE lists further equity shares of Aptus Value Housing Finance, Balu Forge Industries, CreditAccess Grameen, IIFL Capital Services, Ind-Swift Laboratories, Restaurant Brands Asia, and Keystone Realtors effective October 07, 2025.

Summary

NSE has admitted further issues of equity shares of seven companies for trading on the Capital Market segment effective October 07, 2025. The listing includes shares allotted under ESOP schemes and conversion of preferential warrants.

Key Points

  • Aptus Value Housing Finance India Limited (APTUS): 22,000 equity shares allotted under ESOP on September 22, 2025
  • Balu Forge Industries Limited (BALUFORGE): 1,900,000 equity shares from warrant conversion at Rs. 360, allotted May 24, 2025, lock-in until May 30, 2026
  • CreditAccess Grameen Limited (CREDITACC): 29,642 equity shares allotted under ESOP on September 22, 2025
  • IIFL Capital Services Limited (IIFLCAPS): 107,610 equity shares allotted under ESOP on September 29, 2025
  • Ind-Swift Laboratories Limited (INDSWFTLAB): 6,582,876 equity shares from warrant conversion at Rs. 121, allotted July 02, 2025, with partial lock-in (see Annexure A)
  • Restaurant Brands Asia Limited: Details in annexure (not provided in excerpt)
  • Keystone Realtors Limited: Details in annexure (not provided in excerpt)
  • Market lot: 1 for all securities
  • All shares rank pari passu with existing equity shares

Regulatory Changes

None. This is a routine listing notification under Regulation 3.1.1 and 2.5.5 of NSE Capital Market Trading Regulations Part A.

Compliance Requirements

  • Trading members must use designated security codes for trading
  • Trading must be conducted in specified lot sizes (market lot of 1)
  • Lock-in restrictions apply:
    • Balu Forge: Lock-in expires May 30, 2026
    • Ind-Swift Laboratories: Partial lock-in per Annexure A (1,100,000 shares locked until October 10, specific year not clear; 5,482,876 shares different lock-in)
    • ESOP allotments: No lock-in applicable

Important Dates

  • Circular Date: October 06, 2025
  • Effective Date: October 07, 2025
  • Allotment Dates:
    • Aptus Value: September 22, 2025
    • Balu Forge: May 24, 2025
    • CreditAccess Grameen: September 22, 2025
    • IIFL Capital: September 29, 2025
    • Ind-Swift Labs: July 02, 2025
  • Lock-in Expiry:
    • Balu Forge: May 30, 2026
    • Ind-Swift Labs: Per Annexure A

Impact Assessment

Market Impact: Low. These are routine further issue listings with relatively small volumes except for Balu Forge (1.9 million shares) and Ind-Swift Laboratories (6.58 million shares). The lock-in periods on the larger warrant conversions will prevent immediate market supply impact.

Operational Impact: Minimal. Standard trading procedures apply with market lot of 1 for all securities. No special trading arrangements required.

Dilution Impact: Company-specific; warrant conversions at Balu Forge and Ind-Swift Labs represent capital raising and shareholder dilution, while ESOP allotments are part of regular employee compensation programs.

Impact Justification

Routine listing of further issues from ESOP allotments and warrant conversions; no material market impact expected