At the meeting of the board of directors of Tasty Bites Eatables Limited ('Company') held today i.e. July 12, 2019, the board of directors of the Company have approved the proposal to offer, issue and allot by way of preferential allotment, up to 15,500 equity shares of face value INR 10/- each ('Equity Shares') for cash at a price of INR 9,030/- (including a premium of INR 9,020/- per Equity Share) to Preferred Brands Foods (India) Private Limited ('PBFIPL'), for a total consideration of INR 13,99,65,000/-.
The price of the Equity Shares for the purpose of the Preferential Issue has been calculated in accordance with the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, and the 'Relevant Date' for the purpose of calculating the price of the Equity Shares is the date 30 (thirty) days prior to the date of the proposed annual general meeting, i.e., July 9, 2019.
Shares of TASTY BITE EATABLES LTD. was last trading in BSE at Rs.9059.5 as compared to the previous close of Rs. 9501.45. The total number of shares traded during the day was 240 in over 70 trades.
The stock hit an intraday high of Rs. 9356.3 and intraday low of 9030. The net turnover during the day was Rs. 2218645.