Abhinav Leasing gets BSE in-principle approval for warrants

Abhinav Leasing & Finance Ltd has received 'In-Principle' approval from BSE for the issuance of 6,00,00,000 convertible share warrants at a face value of Re. 1/- to non-promoter entities on a Preferential Allotment basis. The approval is for warrants convertible into equity shares at a price not less than Rs. 164/-. BSE has advised the company to strengthen internal controls and obtain undertakings from allottees to prevent intra-day trading or sales before the allotment date, in compliance with SEBI regulations. The company must also comply with all statutory and other approvals and ensure timely listing application post-allotment.