Standard Surfactants Receives In-Principle Approval for Issuing Convertible Warrants to Promoters

Key Highlights

• Standard Surfactants Ltd. has received an in-principle approval from BSE Limited for the issuance of convertible warrants.
• 8,00,000 warrants convertible into 8,00,000 equity shares of Rs. 10/- each at a price not less than Rs. 58/- will be issued to promoters on a preferential basis.
• The approval is granted under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Schedule III of the said Regulations.
• The company is required to comply with the provisions of the Companies Act, 2013, Securities Contracts (Regulation) Act, 1956, the Securities and Exchange Board of India Act, 1992, the Depositories Act, 1996, Chapter V of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, and the Listing Agreement signed with BSE Limited.
• The company is advised to strengthen internal controls to monitor trades being executed by the proposed allottees in the scrip of the company.