Categories: Business

This auto stock approves conversion of warrants into equity shares – details

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Pritika Auto Industries Ltd’s board has thought-about and accredited the conversion of 28,50,000 warrants into 28,50,000 fairness shares with a face worth of Rs 2 every to the “non-promoters/public class”, on a preferential foundation.

The corporate knowledgeable the BSE that the board has “accredited the allotment of fairness shares on conversion of 28,50,000 warrants into 28,50,000 fairness shares of the face worth of Rs. 2/- every, to “Non-Promoters/Public Class”, on preferential foundation, upon receipt of stability quantity aggregating to Rs. 4,06,12,500/- (Rupees 4 Crore Six Lac Twelve Thousand and 5 Hundred solely) on the price of Rs. 14.25 (Rupees Fourteen and Paise twenty 5 solely) per warrant (being 75% of the difficulty worth per warrant) from the allottees pursuant to the train of their rights of conversion into fairness shares in accordance with the provisions of SEBI (ICDR) Laws, 2018 and record of allottees is enclosed as Annexure-l.”

The corporate additionally mentioned that the warrant holders can convert them into an equal variety of fairness shares by paying Rs 14.25 inside 18 months from the date of allotment of those warrants. Warrants had been allotted on March 16, 2023 with a proper to subscribe to at least one fairness share per warrant.

“Pursuant to members approval, these warrants had been allotted, when it comes to SEBI (ICDR) Laws, 2018 to Non-Promoters/Public Class, on preferential foundation, at an Concern Worth of Rs. 19/- per warrant on cost of Rs.4.75 per warrant, being 25% of the Concern Worth, entitling the warrants holders to get their warrants transformed into equal variety of Fairness Shares of the Firm by paying remaining 75% i.e., Rs. 14.25 inside 18 months from the date of warrant allotment.

“Consequent to in the present day’s dialog of warrants/allotment of Fairness Shares, the issued and paid-up capital of the Firm stands elevated to Rs 18,30,45,000/-consisting of 9,15,22,500 fairness shares of Rs. 2/- every,” knowledgeable Pritika Auto Industries to the inventory exchanges.

Pritika Auto Industries Restricted, established on April 11, 1980, specializes within the manufacturing of tractors and automotive elements.

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Amirul

CEO OF THTBITS.com, sharing my insights with people who have the same thoughts gave me the opportunity to express what I believe in and make changes in the world.