Shree Marutinandan Tubes Limited (SMTL) has received in-principle approval from BSE for a preferential issue of 47,57,280 warrants convertible into equity shares. The issue price is set at not less than Rs 103.00 per share, potentially raising up to Rs 49 crore. The warrants will be allotted to both promoters and non-promoters. SMTL must comply with regulatory requirements and submit a listing application within 20 days of allotment. The BSE approval is subject to compliance with various regulations and post-issue formalities.