Description
NSE notifies listing of additional equity shares for Magson Retail and Distribution Limited (warrant conversion) and Z-Tech (India) Limited (preferential issue) on SME EMERGE platform effective January 29, 2026.
Summary
NSE has notified the listing of further equity shares for two SME EMERGE segment companies effective January 29, 2026. Magson Retail and Distribution Limited is listing 1,139,500 equity shares allotted pursuant to warrant conversion at Rs. 93.25 per share. Z-Tech (India) Limited is listing 128,000 equity shares issued under preferential allotment at Rs. 500 per share. Both issuances include lock-in provisions per SEBI regulations.
Key Points
- Effective date: January 29, 2026
- Magson Retail: 1,139,500 equity shares (Rs. 10 face value) from warrant conversion
- Magson issue price: Rs. 93.25 per share
- Magson allotment date: December 13, 2025
- Magson distinctive number range: 10235209 to 11374708
- Magson market lot: 1000 shares
- Z-Tech: 128,000 equity shares (Rs. 10 face value) from preferential issue
- Z-Tech issue price: Rs. 500 per share
- Z-Tech allotment date: December 10, 2025
- Z-Tech distinctive number range: 14330249 to 14458248
- Z-Tech market lot: 300 shares
- Both issues are pari passu with existing equity shares
Regulatory Changes
No regulatory changes introduced. The circular implements existing regulations under NSE Capital Market Trading Regulations Part A (Regulation 3.1.1 and 2.5.5) for admission of further securities to trading.
Compliance Requirements
Lock-in Requirements - Magson Retail:
- 138,000 shares (distinctive nos. 10235209 to 10373208): Lock-in expires September 10, 2026
- 1,001,500 shares (distinctive nos. 10373209 to 11374708): Lock-in expires September 10, 2027
Lock-in Requirements - Z-Tech:
- 120,000 shares (distinctive nos. 14330249 to 14450248): Lock-in expires August 9, 2027
- 6,000 shares (distinctive nos. 14450249 to 14456248): Lock-in expires August 10, 2026
- 2,000 shares (distinctive nos. 14456249 to 14458248): Lock-in expires August 9, 2026
ISIN Details:
- Shares credited under temporary ISIN (IN8*********) per SEBI circulars CIR/MRD/DP/21/2012 (August 2, 2012) and CIR/MRD/DP/24/2012 (September 11, 2012)
- Magson ISIN: INE0O1S01012
- Z-Tech ISIN: INE0ISZ01012
Important Dates
- Circular Date: January 28, 2026
- Effective Date: January 29, 2026
- Magson Allotment Date: December 13, 2025
- Z-Tech Allotment Date: December 10, 2025
- Lock-in Expiry Dates: Various dates between August 2026 and September 2027 (see Compliance Requirements)
Impact Assessment
Market Impact: Low. These are routine further issue listings for two SME segment companies with relatively small issuance sizes.
Trading Impact:
- Increased tradable float for both companies post lock-in expiry
- Magson: Market lot of 1,000 shares requires minimum investment of ~Rs. 93,250 at issue price
- Z-Tech: Market lot of 300 shares requires minimum investment of ~Rs. 150,000 at issue price
Investor Impact:
- Existing shareholders of both companies see dilution from additional shares
- Magson warrant holders converted to equity shareholders
- Z-Tech preferential allottees subject to staggered lock-in periods
- Trading commences on SME EMERGE platform using designated security codes
Liquidity Impact: Minimal immediate impact due to lock-in provisions; gradual liquidity improvement as lock-ins expire through 2026-2027.
Impact Justification
Routine listing of additional shares for two SME companies with limited market impact; affects only existing shareholders and lock-in compliance