Darjeeling Industries Limited Receives BSE Trading Approval for 30,12,010 Equity Shares from Warrant Conversion

Darjeeling Industries Limited has successfully obtained trading approval from BSE Limited for its preferential allotment of equity shares through warrant conversion. The approval marks a significant milestone in the company's capital restructuring process, enabling immediate trading of the newly issued securities.

Share Allotment Details

The BSE trading approval covers the allotment of 30,12,010 fully paid-up equity shares issued pursuant to warrant conversion through preferential issue. These shares were allocated to non-promoters as part of the company's capital expansion strategy.

Parameter: Details Total Shares: 30,12,010 Face Value: Rs. 10/- each Premium: Rs. 6.80/- Distinctive Numbers: 4850001 to 7862010 Issue Type: Preferential basis to non-promoters Trading Effective Date: March 17, 2026

Regulatory Timeline and Approvals

The company initiated the process by submitting an in-principle application to BSE on October 25, 2024, regarding the preferential issue of fully paid-up equity shares pursuant to warrant conversion. The exchange processed the application over several months before granting final trading approval.

BSE issued Notice No. 20260316-13 dated March 16, 2026, officially informing trading members about the listing of these securities. The notice was made available on the exchange's website for reference by all market participants.

Corporate Communication

Darjeeling Industries Limited, formerly known as Darjeeling Ropeway Company Limited, communicated the trading approval to BSE through an official letter dated March 17, 2026. The communication was signed by Managing Director Ashok Dilipkumar Jain and submitted under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Market Impact

The trading approval enables immediate market participation for the newly issued shares, providing liquidity to the warrant holders who converted their instruments into equity. The preferential allotment to non-promoters indicates the company's strategy to broaden its shareholder base while raising capital for business operations.

Darjeeling Industries Limited has issued a clarification to BSE Limited regarding significant movement in its stock price, stating that the volatility is purely market-driven with no underlying material information causing the fluctuation.

Company Response to BSE Inquiry

The company responded to BSE's letter dated 16th March, 2026, which sought clarification on the significant price movement in the company's scrip. In its response dated 17th March, 2026, Darjeeling Industries emphasized that it has no price-sensitive or material information that could have resulted in the observed stock price movement.

Parameter: Details BSE Letter Reference: L/SURV/ONL/PV/SJ/2025-2026/3436 Response Date: 17th March, 2026 Security Code: 539770 Security ID: DARJEELING

Regulatory Compliance Statement

The company confirmed its adherence to regulatory requirements, stating that all disclosures under SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 have been made within the stipulated timeframes. These disclosures cover any information that may have a possible impact or cause fluctuation in the company's stock price.

Managing Director Ashok Dilipkumar Jain, with DIN 03013476, digitally signed the clarification letter on behalf of the company. The response emphasized that there are currently no events, information, or announcements that need to be reported to the stock exchange.

Market-Driven Volatility

Darjeeling Industries attributed the stock price volatility to natural market forces rather than any company-specific developments. The company's clarification aims to address investor concerns and provide transparency regarding the recent price movements in its shares on the stock exchange.

The company, formerly known as Darjeeling Ropeway Company Limited, maintains its registered office at 104, Floor-1, Shreeji Darshan, Tata Road No. 2, Roxy Cinema Opera House, Girgaon, Mumbai. This clarification demonstrates the company's commitment to maintaining transparent communication with regulatory authorities and stakeholders regarding stock price movements.

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