Description

NSE notifies listing of further issued securities for nine companies including Federal Bank, IndiGo, Indo Thai Securities, L&T Finance, and Maan Aluminium, effective March 09, 2026.

Summary

NSE has notified the listing and admission to dealings of further issued securities for nine companies on the Capital Market segment, effective March 09, 2026. The issuances include ESOP allotments and preferential allotments, with some securities subject to lock-in periods.

Key Points

  • Nine companies are listing further issues of equity shares effective March 09, 2026
  • Allotments include ESOP-based issues (Federal Bank, IndiGo, L&T Finance) and preferential/convertible security conversions (Indo Thai Securities, Maan Aluminium)
  • Indo Thai Securities allotment (31-Dec-2025) involves conversion of compulsorily convertible securities on preferential basis at Rs. 376 per share
  • Maan Aluminium allotment (16-Jan-2026) is under Preferential route at Rs. 141 per share
  • Lock-in restrictions apply to Indo Thai Securities and Maan Aluminium shares per their respective Annexure A details
  • All new securities are pari passu with existing shares and have market lot of 1

Regulatory Changes

No new regulatory changes. This circular is issued in pursuance of:

  • Regulation 3.1.1 of NSE (Capital Market) Trading Regulations Part A — admission of securities to dealings
  • Regulation 2.5.5 of NSE (Capital Market) Trading Regulations Part A — lot sizes for securities

Compliance Requirements

  • Trading members must use designated security codes for all trading in these securities
  • Trading must be conducted in specified lot sizes as per the Annexure
  • Lock-in restrictions must be observed for Indo Thai Securities and Maan Aluminium shares as detailed in their respective Annexure A

Important Dates

  • Effective Date: March 09, 2026 — all listed securities admitted to dealings
  • Federal Bank allotment date: February 28, 2026 (177,242 shares under ESOP)
  • IndiGo allotment date: March 05, 2026 (200 shares under ESOP)
  • Indo Thai Securities allotment date: December 31, 2025 (30,95,000 shares via CCS conversion)
  • L&T Finance allotment date: March 04, 2026 (7,98,240 shares under ESOP)
  • Maan Aluminium allotment date: January 16, 2026 (59,00,000 shares under Preferential)
  • Indo Thai lock-in expiry dates: September 15, 2026 (59,50,000 + 20,00,000 shares) and September 15, 2027 (5,00,000 shares)

Impact Assessment

  • Federal Bank (FEDERALBNK): 177,242 new shares (ESOP) — minimal dilution impact
  • IndiGo (INDIGO): Only 200 new shares (ESOP) — negligible dilution
  • Indo Thai Securities (INDOTHAI): 30,95,000 new shares at Rs. 376 (preferential conversion) — notable addition to float, partially restricted by lock-in until Sep 2026/2027
  • L&T Finance (LTF): 7,98,240 new shares (ESOP) — minor dilution
  • Maan Aluminium (MAANALU): 59,00,000 new shares at Rs. 141 (preferential) — significant increase in share capital; lock-in applies per Annexure A
  • Overall market impact is moderate; large preferential allotments for Indo Thai and Maan Aluminium may affect price discovery once lock-ins expire

Impact Justification

Routine further issue listing circular covering ESOP and preferential allotments across multiple companies; significant share volumes (e.g., 59 lakh for Maan Aluminium, 30.95 lakh for Indo Thai) but standard regulatory process with no policy changes.