Sampann Utpadan India Limited, formerly known as S.E. Power Limited, recently submitted a formal clarification to the National Stock Exchange of India Limited (NSE) and BSE Limited regarding a minor delay in filing the application for trading approval of equity shares issued under a preferential issue. The communication, dated 27th February 2026, was prompted by an earlier notice issued by NSE concerning compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the relevant SEBI Master Circular SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated 21 June 2023.

The delay involved 82,00,000 equity shares issued under a preferential issue. As per the SEBI circular, listed entities are required to file an application for trading approval within seven working days from the grant of listing approval by the exchange. Non-compliance attracts a penalty of ₹20,000 per day, along with applicable GST. In this instance, the delay spanned 21 days, resulting in a calculated fine of ₹4,20,000 plus 18% GST.

Sampann Utpadan India Limited clarified that the delay was purely procedural and administrative in nature, arising due to circumstances beyond the company’s control. Specifically, the Credit of Shares letter issued by NSDL, which is essential for filing the trading approval application, was dated 7 January 2026 but received by the company only on 9 January 2026, despite multiple follow-ups with the depository. According to SEBI regulations, the application for trading approval must be accompanied by confirmation of credit from the depository. Therefore, the delay was unavoidable and occurred through no fault of the company.

The company emphasized that the interests of investors were not adversely affected by this procedural delay. This is primarily because the equity shares issued under the preferential issue are subject to lock-in requirements: 18 months for promoters and 6 months for non-promoters, commencing from the date of trading approval, in accordance with Regulation 167 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. As a result, the delay of three days in filing the application for trading approval did not impact the actual trading or liquidity of the shares in the market.

Immediately upon receipt of the depository confirmation on 9 January 2026, the company filed the application for trading approval without any further delay. This prompt action demonstrates the company’s commitment to regulatory compliance and adherence to SEBI norms.

Sampann Utpadan India Limited has formally requested the NSE and BSE to take the explanation on record and grant approval to the filed trading application. The company stressed that no prejudice has been caused to investor interests due to the delay, and the circumstances leading to the delay were well-documented and beyond their control.

This disclosure underscores Sampann Utpadan India Limited’s transparent approach to corporate governance, as the company proactively addressed the compliance notice, provided detailed reasoning for the delay, and sought the approval of exchanges in accordance with SEBI guidelines.

The procedural delay highlights the importance of coordination between listed entities and depositories like NSDL for timely trading approval. It also demonstrates the adherence of Sampann Utpadan India Limited to SEBI’s compliance framework, despite administrative challenges.

In conclusion, the company has reassured stakeholders that all regulatory requirements have been fulfilled, the shares remain under lock-in, and investor interests are fully protected. The company’s proactive communication with NSE and BSE reinforces its commitment to full compliance with SEBI (LODR) Regulations, 2015 and highlights a responsible approach toward maintaining transparency and investor confidence in the equity markets.

This update also reflects the company's continuous efforts to maintain smooth operations in line with SEBI regulations and ensure that its preferential issue shares are traded in a compliant and orderly manner, further strengthening trust among investors and stakeholders.

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