Darjeeling Ropeway Company Limited has received a significant boost to its capital raising plans. The company announced that it has secured in-principle approval from the BSE Limited for issuing 70,00,000 warrants convertible into equity shares on a preferential basis.

Key Details of the Warrant Issue

• Number of Warrants: 70,00,000 (Seventy Lakhs)
• Conversion Ratio: Each warrant is convertible into one equity share
• Face Value: Rs. 10 per equity share
• Issue Price: Not less than Rs. 16.80 per warrant
• Allottees: Non-promoters

Approval and Compliance Requirements

The BSE granted the in-principle approval through its letter Ref: LOD/PREF/MV/FIP/872/2025-26. However, the exchange has clarified that this approval does not constitute final approval for listing of the securities. Darjeeling Ropeway Company must adhere to several regulatory requirements, including:

1. Compliance with the Companies Act, 2013
2. Adherence to Securities and Exchange Board of India (SEBI) regulations
3. Obtaining necessary statutory approvals

Additional Measures

The BSE has advised Darjeeling Ropeway Company to implement the following measures:

1. Strengthen internal controls to monitor trades executed by proposed allottees
2. Obtain undertakings from allottees confirming they will not engage in intra-day trading or sell the company's shares until the allotment date

Post-Issue Formalities

Following the allotment of securities, Darjeeling Ropeway Company is required to:

1. Make a listing application without delay, along with applicable fees
2. Comply with post-issue formalities as per SEBI regulations
3. Apply for listing within 20 days from the date of allotment

Management Statement

Ashok Dilipkumar Jain, Managing Director of Darjeeling Ropeway Company Limited, signed the intimation to BSE regarding the in-principle approval, demonstrating the company's commitment to transparent communication with its stakeholders.

This warrant issue represents a significant step for Darjeeling Ropeway Company Limited, potentially strengthening its capital base and providing funds for future growth initiatives. Investors and market participants will be keenly watching the company's next steps as it moves forward with this preferential issue.

Darjeeling Ropeway Company Limited has announced a significant business development, securing a purchase order worth Rs 1 crore from HDL Foods India Private Limited. The order marks a notable transaction in the food commodities sector, highlighting the company's expanding presence in the market.

Order Details

The purchase order, as disclosed by Darjeeling Ropeway Company Limited, encompasses the supply of three essential food commodities:

Transaction Highlights

• Order Value: Rs 1.00 crore
• Client: HDL Foods India Private Limited
• Nature: Domestic order
• Execution Timeline: To be mutually agreed upon by both parties

Company Disclosure

In compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Darjeeling Ropeway Company Limited has formally intimated the BSE about this development. The company has emphasized that this transaction does not involve any promoter group interest and is not classified as a related party transaction, ensuring transparency in its business operations.

Market Implications

This order is significant for Darjeeling Ropeway Company Limited as it demonstrates the company's capability to secure substantial contracts in the food commodities sector. The transaction could potentially boost the company's revenue and strengthen its position in the market.

The successful execution of this order may open doors for future collaborations and similar contracts, potentially leading to increased business opportunities for Darjeeling Ropeway Company Limited in the food supply chain.

As the food commodities market continues to evolve, such transactions underscore the importance of established supply networks and the ability to meet large-scale demands efficiently. Darjeeling Ropeway Company Limited's engagement in this sector suggests a diversified approach to its business operations, extending beyond its traditional ropeway services.