27 March 2010
Our company had issued 1.18 crore preferential warrants to a body corporate-Promoter Group in Nov, 09 out of which 32% warrants to be converted into equity shares at present. Please inform me the complete procedure/formalities relating to the same. Please also note, the company is a listed company and allottee is a private ltd company. Plz its urgent........
1. As your company is listed Company first you have to take in principle approval of Stock Exchange for listing of shares for this hold board meeting and follow procedure
2. shares will be issued in D mat form so Corporate Action has to be take for issuing shares in D mat contact Nsdl or cdsl it has fees I thing Rs 10 per folio plus processing changes
3. once you get In principle approval hold board meeting for conversion of shares convertthe warrant into shares by passing resolution
4. please check whether stamp duty was paid on warrants if not then onconversion pay stamp duty @0.1 on shares and file form 2
5. now shares are to be credited to D mat account of respective share holders for this you have already made corporate action so here before board meeting get al the requirement check from your deposiory say NSDL or CDSL and be prepared with it , immediately after board meeting send this documents with fees to NSDL CDSL
6. corresponding with this get principle approval from stock exchange for listing of shares before board meeting get the list of document required for principle aproval from Stock Exchange generally when u get in principle approval the list of documents comes with it for principle approval
7. kindly note here procedure for Board meeting to be followed by listed company must be followed
8. submit all this documents in person to stock exchange and Depository
9. in principle approval must be taken before board meeting for allotment of shares
10 As regards share certificate u need to issue jumbo share certificate for the beneficieres on NSDL & CDSL and pay stamp duty on the same and send it to them NSDL & CDSL
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