Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Stake Sale

| More

BG Advisory Services LLP forfeits payment given for Centrum Capital Ltd's warrants

Posted On: 2019-08-31 09:55:38

The Board of Directors of Centrum Capital Limited at its meeting held on January 03, 2018, resolved to issue 4,22,53,521 fully convertible Warrants on preferential basis to BG Advisory Services LLP, being a corporate entity forming part of the Promoter Group of the Company subject to shareholder approval being first obtained. Members of the Company accorded their approval on February 04, 2018 vide postal ballot for issue and allotment of 4,22,53,521 fully convertible warrants to BG Advisory Services LLP at a price of Rs. 74.60/- per Warrant (including a premium of Rs. 64.60/ per Warrant) aggregating upto Rs. 315.21 Crore. BG Advisory Services LLP has subscribed to 2,01,07,260 warrants at a price of Rs. 74.60 (including a premium of Rs. 64.60 per equity share) against which the Company has received 25% upfront warrant subscription amount i.e. Rs. 37.50 Crores, which are outstanding for conversion.

BG Advisory Services LLP was given a right to apply for and get allotted equity shares of the Company within a period of 18 months from the date of allotment of warrants. Therefore, the balance amount of Rs. 112.50 Crores, being 75% of warrant price for 2,01,07,260 warrants, has to be paid at any time before August 31,2019 i.e. before the allotment of equity shares pursuant to conversion of warrants.

Considering that the current share price of the Company is quoting substantially below the conversion price, the Company has received an intimation from BG Advisory Services LLP that they have decided not to exercise their right of conversion of the aforesaid warrants into equivalent number of equity shares.

As a consequence thereof, the Company took note of forfeiture of upfront warrant subscription amount of Rs.37.50 Crore paid by BG Advisory Services LLP in terms of SEBI (ICDR) Regulations.

Shares of CENTRUM CAPITAL LTD. was last trading in BSE at Rs.26.55 as compared to the previous close of Rs. 26.65. The total number of shares traded during the day was 45217 in over 272 trades.

The stock hit an intraday high of Rs. 28.35 and intraday low of 26.5. The net turnover during the day was Rs. 1219283.

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

Mahindra Lifespace Developers Ltd allots 4450 shares

ICICI Bank allots 136,116 equity shares

L&T approves allotment of 11,900 equity shares to FCCB Holders

Aspira Pathlab & Diagnostics Ltd board approves preferential issue at Rs. 26

Electrosteel Castings Ltd approves preferential issue of 2,74,72,526 Equity Shares

Indian Overseas Bank - Increase of Authorised Capital

Bandhan Bank Limited allots 9138 shares

YES Bank allots 1,53,250 shares

Edelweiss Financial Services Ltd allots 2,06,075 Equity Shares

ITC Ltd allots 57,81,600 shares

ICICI Bank allots 75,556 shares

Prithvi Exchange India Ltd allots 27,49,883 shares

Hinduja Global Solutions Ltd allots 798 shares

Kotak Mahindra Bank Ltd allots 26,423 shares

Bodal Chemicals Ltd allots 1.5 crore warrants at Rs. 115

Rubfila International Ltd allots 45 lakh share warrants

ICICI Bank allots 40,972 shares

CreditAccess Grameen Ltd allots 14,505 shares

Kotak Mahindra Bank Ltd allots 1,16,680 equity shares

ICICI Lombard General Insurance Company allots 6000 shares

AXIS Bank allots 15,050 shares

TCI Express Ltd allots 44,775 shares

Vardhman Special Steels Ltd allots 2500 shares

JSPL allots 20,53,995 shares

Grasim Industries Limited allots 8779 shares

Sankhya Infotech Ltd allots 14,51,852 Equity shares

L&T Technology Services Ltd allots 600 shares

Tejas Networks Ltd allots 23,969 shares

ICICI Bank allots 142,155 shares

Future Consumer Ltd allots 2 lakh shares on July 4, 2019

ITC allots 89,51,380 shares

Ujjivan Financial Services Ltd allots 19404 shares

Reliance Industries Ltd allots 38540 shares

Kirloskar Ferrous Industries Ltd allots 8000 shares

UltraTech Cement Ltd allots 329 shares

Vardhman Textiles Ltd allots 5600 shares

Gruh Finance Ltd allots 2,06,266 equity shares

AXIS Bank allots 75877 shares

AU Small Finance Bank Ltd allots 13010 shares

Indiabulls Real Estate Ltd allots 23,06,212 shares

ICICI Bank allots 434847 shares

Kotak Mahindra Bank Ltd allots 216238 shares

Federal Bank Ltd allots 139962 shares

Confidence Petroleum India Ltd allots 15,00,001 warrants

Dr Reddys Laboratories Ltd allots 7086 shares

Vikram Thermo India Ltd allots 689000 shares at Rs. 80 to promoters

Bandhan Bank Ltd allots 4366 shares

Future Lifestyle Fashions Ltd allots 135974 shares

YES Bank allots 1,258,275 shares

Mphasis Ltd allots 19000 shares

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019