NSEGeneral Updates3d ago · 18 Sept 2026, 11:25 pm
General Updates
Mangalam Worldwide Limited · MWL
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Mangalam Worldwide Limited has received return letters from the NSE regarding its applications for in-principle approval for the conversion of warrants and draft Scheme of Amalgamation with Mangalam Saarloh Private Limited. The applications are being returned as they do not meet the requirements for migration to the main board due to the company's paid-up capital exceeding Rs. 25 crores.
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Mangalam Worldwide Limited has informed the Exchange about the return letter received from the NSE on September 17, 2026.
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Ref: MWL/CS/2026-27/149 Date: September 18, 2026
National Stock Exchange of India Limited BSE Limited
Exchange Plaza, C-1, Block-G, Department of Corporate Services
Bandra Kurla Complex, Bandra, Phiroze Jeejeebhoy Towers,
Mumbai-400 051. Dalal Street,
Mumbai- 400001
NSE Symbol: MWL Scrip Code: 544764
Ref: Equity ISIN: INE0JYY01029
NSE (Debt): ISIN: INE0JYY07018, Symbol: 975MWL29
NSE (Debt): ISIN: INE0JYY07026, Symbol: 10MWL29
Sub: Intimation towards receipt of return letters from NSE on September 17, 2026.
Ref:
(1) Intimation under Regulation 30 and 51 of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015.
(2) Letter of NSE vide Ref No. NSE/LIST/40167 dated September 17, 2026.
(3) Letter of NSE vide Ref No. NSE/LIST/40408 dated September 17, 2026.
Dear Sir/ Madam,
Pursuant to the Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as amended, read together with the circulars and
notifications issued thereunder (SEBI Listing Regulations), we hereby inform that the
Company has received letters from NSE on September 17, 2026 as follows:
(1) Return letter received from NSE w.r.t. application no. 40167 filed for obtaining in-
principle approval for 44,00,000 Equity Shares pursuant to the conversion of warrants
issued on a preferential basis.
(2) Return letter from NSE w.r.t. the application no. 40408 filed for draft Scheme of
Amalgamation of Mangalam Saarloh Private Limited with Mangalam Worldwide Limited
and their respective shareholders and creditors.
Copies of the same are enclosed herewith for your reference and records.
This is for your information and records.
Thanking You,
Yours Faithfully,
Mangalam Worldwide Limited
(CIN: L27100GJ1995PLC028381)
Regd. Office: 102, Mangalam Corporate House, 42, Shrimali Society, Netaji Marg, Mithakhali, Navrangpura, Ahmedabad-380009, Gujarat (INDIA)
Tel: +91 79 61615000 (10 Lines) Email: cs@mangalamworldwide.com Website: www.mangalamworldwide.com
Ref: NSE/LIST/40167 September 17, 2026
The Company Secretary,
Mangalam Worldwide Limited
Dear Sir/Madam,
Sub.: Return letter w.r.t. the application no. 40167 filed for the In-principle approval of 4400000
equity shares pursuant to conversion of warrants at an issue price of Rs. 125.4/- each allotted on
preferential basis.
This is with reference to your application number 40167, for the further issue of 4400000 equity shares
pursuant to conversion of warrants to be allotted pursuant to preferential issue.
While processing the application it was observed that the post-issue paid-up capital was projected to
exceed Rs. 25 cr., thereby triggering the requirement for migration to the main board as per Regulation
280(2) of ICDR Regulations, 2018. Accordingly, The Exchange had raised certain observations w.r.t. the
application and sought clarification/additional documents vide various requirements letters and emails
issued during the period February 26, 2024, to October 31, 2024, seeking clarification on the compliance
of the company with the requirement of migration to the main board. However, Company has not replied
satisfactorily.
Through an amendment to the ICDR regulations on March 8, 2025, SEBI provided relief to SME
companies. If an SME company's paid-up capital is likely to exceed 25 crores due to further issuance of
capital, it may not be required to migrate to the main board. This is subject to the condition that the issuer
undertakes to comply with the provisions of the SEBI (LODR) Regulation 2015, as applicable to
companies listed on the main board of the stock exchange(s). Since the application in the above case was
submitted prior to the effective date of the amendment (March 8, 2025) the same relief was not made
retrospectively applicable, hence could not be extended to the aforesaid application.
Considering the above facts, the company is required to file a fresh application in the said matter.
Accordingly, the Company’s application is being returned herewith.
Yours faithfully,
For National Stock Exchange of India Limited
Dipti Chinchkhede
Senior Manager
P.S. Checklist of all the further issues is available on website of the exchange at the following URL:
http://www.nseindia.com/corporates/content/further_issues.htm
Ref: NSE/LIST/40408 September 17, 2026
The Company Secretary,
Mangalam Worldwide Limited
Dear Sir/Madam,
Sub.: Return letter w.r.t. the application no. 40408 filed for draft Scheme of Amalgamation of
Mangalam Saarloh Private Limited with Mangalam Worldwide Limited and their respective
shareholders and creditors.
This is with reference to your application number 40408, for draft Scheme of Amalgamation of
Mangalam Saarloh Private Limited with Mangalam Worldwide Limited and their respective shareholders
and creditors.
While processing the application it was observed that the post-scheme paid-up capital was projected to
exceed Rs. 25 cr., thereby triggering the requirement for migration to the main board as per Regulation
280(2) of ICDR Regulations, 2018. Accordingly, the Exchange had raised certain observations w.r.t. the
application and sought clarification/additional documents vide requirement letter dated April 10, 2024.
However, the response provided by the Company was not satisfactory.
Through an amendment to the ICDR regulations on March 8, 2025, SEBI provided relief to SME
companies. If an SME company's paid-up capital is likely to exceed 25 crores due to further issuance of
capital, it may not be required to migrate to the main board. This is subject to the condition that the issuer
undertakes to comply with the provisions of the SEBI (LODR) Regulation 2015, as applicable to
companies listed on the main board of the stock exchange(s).
Since the application in the above case was submitted prior to the effective date of the amendment (March
8, 2025) the same relief was not made retrospectively applicable, hence could not be extended to the
aforesaid application.
Considering the above facts, the company is required to file a fresh application in the said matter.
Accordingly, the Company’s present application is being returned herewith.
Yours faithfully,
For National Stock Exchange of India Limited
Khyati Vidwans
Chief Manager