Preferential issue conditions: issuers must secure shareholder special resolution and in principle approval while ensuring dematerialisation and PAN compliance. A listed issuer proposing a preferential issue must ensure allotted equity shares are fully paid up, shareholders pass a special resolution, proposed allottees' existing equity shares are dematerialised before seeking in-principle approval, continuous listing obligations are met, and Permanent Account Numbers of proposed allottees are obtained except where exempt. The issuer must apply for in-principle approval to the stock exchange(s) on the same day the notice for the general meeting seeking the special resolution is sent.