Balgopal Commercial Ltd has secured listing approval from BSE Limited for 23,38,000 equity shares issued to its promoter group on a preferential basis. The shares, issued at a premium of ₹50 each, were allotted pursuant to the conversion of warrants. This approval is crucial for the company as it allows these shares to be traded on the exchange, subject to final procedural clearances.

The approval was granted via letter number LOD/PREF/AP/FIP/451/2026-27 dated June 29, 2026. The shares bear distinctive numbers ranging from 20910001 to 23248000. The issuance was conducted in accordance with Regulation 28(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Conditions for Trading

While the listing has been approved, trading in these shares will commence only after the company fulfills specific regulatory requirements. Balgopal Commercial must submit confirmation letters from NSDL and CDSL regarding the crediting of shares to beneficiary accounts and the lock-in of pre-preferential holdings, if applicable. Additionally, the company must provide listing approval from the National Stock Exchange of India Ltd., if applicable.

Regulatory Compliance

The company is required to ensure compliance with Regulation 167 of the SEBI (ICDR) Regulations. Furthermore, if the shareholding pattern changes by more than 2% of the total paid-up share capital, the company must file the updated pattern in XBRL mode under Regulation 31(1)(c) of SEBI LODR Regulations, 2015.

BSE has mandated that the company apply for trading approval within seven working days from the date of the listing approval, as per Schedule XIX of ICDR Regulations and a SEBI circular dated June 21, 2023. Failure to comply with this timeline may result in penalties.

Details of the Allotment

Balgopal Commercial Limited's subsidiary, Dreamax Realtors, has secured a redevelopment project worth ₹200 crores from Oshiwara Gokul Co-operative Housing Society Limited. The agreement involves the comprehensive redevelopment of land admeasuring 2,531.62 sq meters situated in Jogeshwari (West), Mumbai. The project carries a gross merchandise value (GMV) of approximately ₹200 crores.

Dreamax Realtors, formerly known as Lotus Realtors, executed a Supplemental Development Agreement (SDA) to revise and update a prior Development Agreement dated June 15, 2011. The disclosure was made to BSE Limited under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.

Project Details

The Developer will undertake the redevelopment of the Society's land located at Adarsh Nagar, New Link Road, Oshiwara. The Company's entitlement of free sale component from the project is presently estimated to be around 51,086 square feet. This estimation is subject to the provisions of the Development Control & Promotion Regulations for Greater Mumbai, 2034, and applicable laws.

The project timeline stipulates completion within 42 months, plus a 6-month grace period from the receipt of the Commencement Certificate (C.C.) or Handover Date, whichever is later. The order has been awarded by a domestic entity and does not involve any related party transactions. The key project parameters are outlined below:

The Company confirmed that neither the promoter group nor group companies have any interest in the entity awarding the order. The filing was signed by Ankit Ladha, Company Secretary & Compliance Officer.