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Asian Granito India Ltd allots 7,50,000 shares on conversion of warrants

Posted On: 2021-02-20 04:56:37 (Time Zone: Arizona, USA)

Asian Granito India Limited had passed special resolution in respect of Issue of Warrants, Convertible into Equity Shares on Preferential Basis at the Extraordinary General Meeting of the Members held on Friday, 05th April, 2019. Subsequently Company has received In-principle approval from the stock exchanges to allot 47,00,000 fully convertible warrants on Preferential Basis at Rs. 180/- (Rupees One Hundred Eighty only) each by way of passing circular resolution dated 09th September, 2019.

Now the company has received Letters from below mentioned allottees for exercising their right of conversion of 7,50,000 warrants into equity shares as the balance amount of Rs. 10,12,50,000/- (Rupees Ten Crore Twelve Lakhs Fifty Thousand Only) at Rs. 135/- per warrant being 75% of balance amount is paid by said allottees. The Board of Directors have allotted 7,50,000 equity shares of Rs . 10/- each at a premium of Rs. 170/- each on conversion of Warrants allottees as mentioned below by way of passing circular resolution as on 19th February, 2021.

Ms. Dimple Manoj Sanghvi - 1,00,000
Ms. Vimla Pawan Sanghvi - 1,50,000
Ms. Hemangi Bankim Shah - 3,50,000
Mr. Dhaval Bhavik Shah - 25,000
Mr. Rakshit Bhavik Shah - 25,000
Ms. Dimple Amar Parikh - 50,000
Mr. Amar Manhar Parikh - 50,000

Shares of ASIAN GRANITO INDIA LTD. was last trading in BSE at Rs.249.15 as compared to the previous close of Rs. 254.7. The total number of shares traded during the day was 23605 in over 632 trades.

The stock hit an intraday high of Rs. 253.8 and intraday low of 247. The net turnover during the day was Rs. 5879462.

Source: Equity Bulls

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