Pennar Industries Gets In-Principle Approval for Warrant Issue

Pennar Industries Limited has received in-principle approval from the National Stock Exchange of India Limited and BSE Limited for the preferential issuance of convertible equity warrants to the promoter category. The approval is for the issue of 3,00,000 warrants convertible into 30,00,000 equity shares at a price not less than Rs. 168/- per share. The exchanges have emphasized compliance with SEBI regulations, including obtaining undertakings from allottees to prevent intra-day trading and ensuring robust internal controls before allotment. The company must complete listing formalities within twenty days of allotment.