Description
NSE notifies listing of further issued securities for seven companies including ESOP allotments and warrant conversions, effective May 06, 2026.
Summary
NSE has notified the listing of further issued securities for seven companies — Aarvi Encon Limited, Intellect Design Arena Limited, Raghav Productivity Enhancers Limited, Sammaan Capital Limited, SPML Infra Limited, TD Power Systems Limited, and Ugro Capital Limited — effective May 06, 2026. The majority of allotments are under Employee Stock Option Plans (ESOPs), with SPML Infra being the exception where shares were allotted pursuant to conversion of warrants issued on a preferential basis.
Key Points
- Seven companies have new securities admitted to dealings on NSE Capital Market segment from May 06, 2026
- Most allotments are ESOP-related; SPML Infra allotment is via warrant conversion on preferential basis
- All securities are in the EQ series and are pari passu with existing equity shares
- Market lot for all securities is 1
- SPML Infra shares carry a lock-in expiry date of November 14, 2027
- All other securities have no lock-in restrictions
Regulatory Changes
No new regulatory changes introduced. This circular is issued in pursuance of:
- Regulation 3.1.1 of the NSE (Capital Market) Trading Regulations Part A — admission of securities to dealings
- Regulation 2.5.5 of the NSE (Capital Market) Trading Regulations Part A — lot size specification
Compliance Requirements
- Trading members must use designated security codes for all transactions in these securities
- Trading must be conducted in the specified lot sizes (all set to 1)
- SPML Infra shares (325,000 shares) are subject to lock-in until November 14, 2027 and must not be traded before that date
Important Dates
- May 06, 2026: Effective date for admission of all listed securities to dealings on NSE
- Allotment dates by company:
- Aarvi Encon Limited: April 18, 2026
- Intellect Design Arena Limited: April 21, 2026
- Raghav Productivity Enhancers Limited: April 24, 2026
- Sammaan Capital Limited: April 24, 2026
- SPML Infra Limited: March 02, 2026
- TD Power Systems Limited: April 24, 2026
- November 14, 2027: Lock-in expiry for SPML Infra preferential allotment shares
Impact Assessment
| Company | Symbol | ISIN | Shares Added | Issue Type | Face Value |
|---|---|---|---|---|---|
| Aarvi Encon Limited | AARVI | INE754X01016 | 31,900 | ESOP | ₹10 |
| Intellect Design Arena Limited | INTELLECT | INE306R01017 | 2,17,398 | ESOP | ₹5 |
| Raghav Productivity Enhancers Limited | RPEL | INE912T01018 | 9,990 | ESOP | ₹10 |
| Sammaan Capital Limited | SAMMAANCAP | INE148I01020 | 1,85,310 | ESOP | ₹2 |
| SPML Infra Limited | SPMLINFRA | INE937A01023 | 3,25,000 | Warrant Conversion (Preferential) | ₹2 |
| TD Power Systems Limited | TDPOWERSYS | INE419M01027 | 13,600 | ESOP | ₹2 |
The additions represent marginal dilution for most companies given the relatively small share counts versus typical outstanding capital. SPML Infra’s 3,25,000 shares at an issue price of ₹215 each (warrant conversion) represent the largest single tranche and carry a lock-in, limiting near-term float impact. ESOP-related listings are routine and generally signal positive employee retention and compensation practices.
Impact Justification
Routine listing of further issued securities across seven companies primarily via ESOP allotments; one case involves warrant conversion on preferential basis with lock-in, slightly elevating impact for SPMLINFRA specifically.