Description
NSE announces listing of further equity shares for Krishca Strapping Solutions Limited (207,654 shares from warrant conversion) and RNFI Services Limited (107,963 shares from preferential allotment) on SME EMERGE platform effective November 25, 2025.
Summary
NSE has approved the listing of further equity shares for two companies on the SME EMERGE platform effective November 25, 2025. Krishca Strapping Solutions Limited will list 207,654 equity shares (face value Rs. 10, issue price Rs. 233) allotted pursuant to conversion of warrants issued on preferential basis. RNFI Services Limited will list 107,963 equity shares (face value Rs. 10, issue price Rs. 270) issued on preferential basis. Both securities will trade in dematerialized mode under temporary ISINs as per SEBI circulars.
Key Points
- Krishca Strapping Solutions Limited: 207,654 shares from warrant conversion allotted on October 16, 2025
- RNFI Services Limited: 107,963 shares from preferential allotment dated October 22, 2025
- Both listings effective from November 25, 2025 on NSE SME EMERGE platform
- Securities identified by designated codes with specified market lot sizes (500 for KRISHCA, 600 for RNFI)
- Shares issued pari passu with existing equity shares
- Lock-in periods apply: KRISHCA until June 15, 2027; RNFI until June 29, 2026
- Temporary ISINs activated as per SEBI circulars CIR/MRD/DP/21/2012 and CIR/MRD/DP/24/2012
Regulatory Changes
No regulatory changes introduced. This circular implements existing regulations under National Stock Exchange (Capital Market) Trading Regulations Part A, specifically Regulation 3.1.1 for admission to dealings and Regulation 2.5.5 for lot size specifications.
Compliance Requirements
- Trading members must use designated security codes for identification and trading purposes
- Trading must be conducted in specified lot sizes: 500 shares for KRISHCA and 600 shares for RNFI
- Lock-in restrictions must be observed until expiry dates (June 15, 2027 for KRISHCA and June 29, 2026 for RNFI)
- Members must ensure compliance with dematerialized trading requirements under temporary ISIN framework
Important Dates
- October 16, 2025: Allotment date for Krishca Strapping Solutions Limited shares
- October 22, 2025: Allotment date for RNFI Services Limited shares
- November 24, 2025: Circular issuance date
- November 25, 2025: Effective listing date for both securities on SME EMERGE platform
- June 29, 2026: Lock-in expiry for RNFI Services Limited
- June 15, 2027: Lock-in expiry for Krishca Strapping Solutions Limited
Impact Assessment
Market Impact: Minimal market-wide impact as this affects only SME segment securities with relatively small issuance sizes. The further issues represent capital raising activities through preferential allotment/warrant conversion routes.
Company-Specific Impact:
- Krishca Strapping Solutions raised approximately Rs. 4.84 crore (207,654 shares × Rs. 233) through warrant conversion
- RNFI Services raised approximately Rs. 2.91 crore (107,963 shares × Rs. 270) through preferential allotment
- Increased float and liquidity for both companies on SME platform
Investor Impact: Existing shareholders should note potential dilution from these further issues. Lock-in periods provide stability by restricting immediate sale by allottees. The pari passu nature ensures equal rights for new shareholders.
Impact Justification
Routine listing notification for further issue of shares on SME platform with limited market-wide impact, affecting only two specific SME companies