Sambhaav Media Limited approves allotment Of Equity Shares Upon Conversion Of Warrants

Several warrant holders of preferential issue made pursuant to the special resolution passed at the Annual General Meeting held on September 10, 2016, have today applied for conversion of some warrants into equity shares. Consequently the Board of Directors of Sambhaav Media Limited have by way of circular resolution made allotment of 8800000 (Eighty Eight Lac Only) equity shares of Rs. 1/- each at an issue price of Rs. 5/- per shares (including premium of Rs. 4/- per share) to these warrant holders.

Upon allotment of these equity shares; the paid up equity share capital of the Company is increased to Rs. 15,49,10,840/- (Rupees Fifteen Crore Forty Nine Lac Ten Thousand Eight Hundred and Forty Only) comprising of 154910840 equity shares of Rs. 1/- each. Subsequent to this allotment, the shareholding of the Promoter and Promoter Group has increased to 62.98% of the enhanced paid up equity share capital of the Company.

Shares of SAMBHAAV MEDIA LTD. was last trading in BSE at Rs.7 as compared to the previous close of Rs. 7.05. The total number of shares traded during the day was 9915 in over 43 trades.

The stock hit an intraday high of Rs. 7.11 and intraday low of 6.56. The net turnover during the day was Rs. 68985.

Source : Equity Bulls

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