Description

NSE notifies listing of further issued equity shares of three SME companies — Grill Splendour Services Limited, E Factor Experiences Limited, and Womancart Limited — on the SME Emerge platform effective March 20, 2026.

Summary

NSE has notified the listing of additional equity shares for three SME Emerge-listed companies — Grill Splendour Services Limited (BIRDYS), E Factor Experiences Limited (EFACTOR), and Womancart Limited (WOMANCART) — effective March 20, 2026. The new shares arise from preferential allotments, an ESOP grant, and warrant conversions respectively.

Key Points

  • All three securities are listed on the NSE Capital Market segment under the SME Emerge platform in the SM series.
  • Grill Splendour Services Limited (BIRDYS) is listing 2,39,745 equity shares allotted under a preferential issue at Rs. 85.61 per share, with a lock-in until October 14, 2026.
  • E Factor Experiences Limited (EFACTOR) is listing 43,300 equity shares allotted under an ESOP scheme at face value (Rs. 10), with no lock-in applicable.
  • Womancart Limited (WOMANCART) is listing 36,000 equity shares allotted pursuant to conversion of warrants issued on a preferential basis at Rs. 312 per share, with a lock-in until September 30, 2026.
  • Equity shares allotted in dematerialised mode are temporarily credited under a temporary ISIN (IN8*********) per SEBI circulars dated August 02, 2012 and September 11, 2012 pending ISIN activation.

Regulatory Changes

No new regulatory changes. The listing is in pursuance of Regulation 3.1.1 and Regulation 2.5.5 of the National Stock Exchange (Capital Market) Trading Regulations Part A.

Compliance Requirements

  • Trading in these securities must use the designated security codes and specified lot sizes.
  • Lock-in restrictions apply to Grill Splendour Services shares (until October 14, 2026) and Womancart shares (until September 30, 2026).
  • ISIN activation must follow the SEBI circular process before permanent ISIN is assigned.

Important Dates

  • March 20, 2026: Effective date for listing and commencement of trading in the further issued shares.
  • February 20, 2026: Date of allotment for Grill Splendour Services (BIRDYS) shares.
  • February 12, 2026: Date of allotment for E Factor Experiences (EFACTOR) ESOP shares.
  • December 23, 2025: Date of allotment for Womancart (WOMANCART) warrant-conversion shares.
  • October 14, 2026: Lock-in expiry for BIRDYS further issue shares.
  • September 30, 2026: Lock-in expiry for WOMANCART further issue shares.

Impact Assessment

The impact is limited to shareholders and investors of the three individual SME companies. The addition of new shares increases the floating stock modestly for each company. Lock-in provisions on BIRDYS and WOMANCART shares restrict near-term selling pressure from allottees. EFACTOR’s ESOP shares have no lock-in, which may see marginal near-term supply. Overall, there is no broader market impact given the small scale of these SME issuances.

Impact Justification

Routine further-issue listing notification for three SME Emerge companies with no broad market impact; affects only existing shareholders and potential investors in these specific small-cap securities.