Almondz Global Securities gets in-principle approval for warrant issue

Almondz Global Securities Limited has received in-principle approval from BSE Limited and National Stock Exchange of India Limited for the proposed issue of 80,00,000 warrants convertible into 80,00,000 equity shares. The warrants will be issued to non-promoters on a preferential basis at a price not less than Rs. 16.58 per equity share. The stock exchanges have advised the company to strengthen internal controls and obtain undertakings from allottees to prevent non-compliance with SEBI regulations, particularly regarding intra-day trading and trading before the allotment date. The company must also comply with all relevant SEBI and Companies Act regulations and ensure timely listing application post-allotment.