RDB Infrastructure and Power Limited to Consider Direct Listing on NSE Following Warrant Conversion

RDB Infrastructure and Power Limited has informed stock exchanges that its Board of Directors will meet on Tuesday, February 3, 2026, to examine a proposal for a direct listing of its equity shares on the National Stock Exchange of India Limited. The company’s shares are currently listed on BSE Limited and The Calcutta Stock Exchange Limited.

RDB Infrastructure and Power Limited, earlier known as RDB Realty & Infrastructure Limited, is headquartered in Kolkata and operates across several project verticals. The company is involved in solar power generation, runway and airport construction, and real estate development, giving it exposure to both infrastructure and energy segments.

The proposed NSE listing, if cleared by the board, is expected to be a key step in the company’s market strategy. Management has indicated that trading on the NSE, India’s largest stock exchange by volume, would likely improve share liquidity, broaden investor access, and strengthen the company’s presence in the domestic capital market.

"Further, in continuation to our disclosure made on Closure of Trading Window dated 24th December, 2025 pursuant to the provisions of the SEBI (Prohibition of Insider Trading) Regulation, 2015 and the Company's Internal Code of Conduct for Prohibition of Insider Trading, we would like to inform that the trading window for dealing in the shares of the Company has already been closed for all the designated persons of the Company and their immediate relatives, from Thursday, 1st January, 2026 till 48 hours after the disclosure of the un-audited Financial Results of the Company to the Stock Exchange," said RDB Infrastructure in a stock exchange filing.

The company’s clarification means insiders and other designated persons, along with their immediate relatives, are currently restricted from trading in RDB Infrastructure and Power Limited shares. This trading window closure aligns with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the internal code of conduct, and will remain until two days after the unaudited financial results are released.

Separately, RDB Infrastructure and Power Limited disclosed that its Board of Directors passed a circular resolution on January 20, 2026. Under this resolution, the board approved the allotment of equity shares following the conversion of warrants that had been earlier issued on a preferential basis to a non-promoter category investor.

According to the BSE filing, 5,00,000 warrants have been converted into 5,00,000 equity shares with a face value of Re. 1 each. The balance consideration of Rs 1.51 crore was received at Rs 40.5 per warrant, representing 75 per cent of the issue price. These warrants were first allotted in November 2024 with 25 per cent collected upfront.

The entire tranche of 5,00,000 warrants was held by a single non-promoter investor, Punam Sarogi, who chose to convert all warrants into equity shares. After this exercise, no warrants from that tranche remain outstanding. Post allotment, the company’s issued and paid-up equity share capital stands at Rs 20.43 crore, representing 20.43 crore equity shares of Re. 1 each.

Parameter	Details
Company	RDB Infrastructure and Power Limited
Board meeting date	February 3, 2026
Proposed action	Direct listing of equity shares on NSE
Current listings	BSE Limited, The Calcutta Stock Exchange Limited
Warrants converted	5,00,000
Face value per share	Re. 1
Issue price per warrant	Rs 40.5
Balance consideration received	Rs 1.51 crore
Allottee	Punam Sarogi (non-promoter)
Paid-up equity capital after allotment	Rs 20.43 crore
Total equity shares	20.43 crore

For investors tracking RDB Infrastructure and Power Limited, the planned board discussion on NSE listing, the recent warrant conversion, and the tighter trading window controls together highlight ongoing capital structure adjustments and compliance steps. The outcome of the February 3, 2026 meeting and subsequent filings will determine how these developments reflect in market liquidity and shareholding patterns.