Balgopal Commercial Ltd

Balgopal Commercial Ltd has received listing approval from BSE Limited for 23,38,000 equity shares issued on a preferential basis to its Promoter/Promoter Group. These shares, with a face value of Rs. 10 each, were issued at a premium of Rs. 50 each. The approval is pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company will comply with further requirements, including obtaining trading approval and confirmation from depositories (NSDL/CDSL) for crediting shares and lock-in periods, within stipulated timelines to avoid penalties.

Balgopal Commercial Limited's wholly-owned subsidiary, M/s. Dreamax Realtors, has executed a Supplemental Development Agreement (SDA) with Oshiwara Gokul Co-Operative Housing Society Limited. The agreement pertains to the comprehensive redevelopment of a 2,531.62 sq. meter land parcel in Jogeshwari (W), Mumbai. The estimated free sale component for the company is around 51,086 square feet. The project has a broad consideration of approximately ₹200 crores and is expected to be completed within 42 months plus a 6-month grace period from the receipt of the Commencement Certificate. This SDA revises a prior Development Agreement dated June 15, 2011.

Balgopal Commercial Ltd's wholly owned subsidiary, Esquire Real Estate & Bio-Infocom Pvt. Ltd, has received a Letter of Award from Slum Rehabilitation Authority (SRA), Mumbai. The award is for the redevelopment of a 19,967.36 sq meter land parcel in Sion Kokari Agar. The subsidiary's estimated free sale component from this project is approximately 5.87 Lakh square feet, with a Gross Market Value (GMV) of around ₹1200 crores. This development is subject to prevailing regulations and further approvals, and it represents a significant step forward for the subsidiary's ongoing development projects.

Balgopal Commercial Ltd announced that promoter Sandeep Jindal acquired 23,38,000 equity shares, representing 10.06% of the company's total equity. This acquisition follows the conversion of warrants previously allotted to him on a preferential basis. The transaction value is ₹10,52,10,000. Post-acquisition, Mr. Jindal's total shareholding in the company increased to 37,76,801 equity shares, constituting 16.25% of the total equity. The disclosure was made in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.

Sandeep Jindal, promoter of Balgopal Commercial Limited, has acquired 23,38,000 equity shares, representing 10.06% of the total share capital. This acquisition occurred through the conversion of warrants allotted on a preferential basis. Following this transaction, Jindal's total shareholding, along with Persons Acting in Concert (PACs), has increased to 55.38% of the company's total equity share capital. The total diluted share capital also saw an increase.

Sandeep Jindal, promoter of Balgopal Commercial Limited, has acquired 23,38,000 equity shares, representing 10.06% of the total share capital. This acquisition occurred through the conversion of warrants allotted on a preferential basis. Following this transaction, Jindal's total holding, along with Persons Acting in Concert (PACs), increased to 55.38% of the company's total diluted share capital. The total equity share capital of the company has also increased post-acquisition.

Balgopal Commercial Ltd announced the allotment of 23,38,000 equity shares following the conversion of warrants by the promoter group. The conversion was executed by Sandeep Jindal, who exercised his option for 23,38,000 warrants, paying the balance 75% of the issue price. This allotment increases the company's paid-up equity share capital to 2,32,48,000 shares amounting to INR 23,24,80,000. The newly issued shares will rank pari-passu with existing shares. The company will apply for listing and trading approval for these new shares.

Balgopal Commercial Ltd has approved the allotment of 23,38,000 equity shares following the conversion of warrants. These warrants were initially allotted on a preferential basis. The conversion was exercised by the warrant holder, belonging to the promoter group, who paid the balance 75% of the issue price. This allotment increases the company's paid-up equity share capital to ₹23,24,80,000 from ₹20,91,00,000. The newly issued shares will rank pari-passu with existing equity shares.

Balgopal Commercial Ltd has entered into a Joint Development Agreement (JDA) with M/s. Viraj Enterprises for a real estate redevelopment project in Juhu, Mumbai, under the Slum Rehabilitation Authority (SRA) Scheme. Balgopal will pay a refundable security deposit of ₹15 Crore to Viraj Enterprises. The revenue sharing ratio is 85:15 between Balgopal and Viraj Enterprises, respectively. The promoter of Balgopal is also a partner in Viraj Enterprises, making it a related party transaction approved by shareholders.

Balgopal Commercial Ltd reports no deviation or variation in the use of funds raised through preferential issue of shares pursuant to conversion of warrants for the quarter ended March 31, 2026. The funds, amounting to ₹8,55,00,000, were raised on March 21, 2026, and were intended for investments in similar lines of business, long-term funding, working capital, and general corporate purposes. The audit committee reviewed the statement, confirming no changes from the original objectives outlined in the EGM notice dated December 10, 2024.