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Kisan Mouldings Limited announces issue of 50,00,000 Equity Shares of Rs. 10/- on preferential basis
Posted On : 2017-09-11 20:14:46( TIMEZONE : IST )
The Committee of Board of Directors recommended the Issue of 50,00,000 Equity Shares of Rs. 10/- on a preferential basis to a select group of investors. This represents 17.32 % of the present Issued and Paid-up capital of the Company and 14.77% of the Post Issued and Paid-up capital of the Company.
Mr. Amitabh Bachchan will subscribe 2,00,000 Equity Shares, Ladderup Ventures LLP will subscribe 7,00,000 Equity Shares, Investors of Seraphic Management will subscribe 6,60,000 Equity Shares, Choice International Limited will subscribe 4,50,000 Equity Shares, Keynote Commodities Limited will subscribe 1,27,000 Equity Shares and the balance shares will be subscribed by other investors. The shares to be issued on preferential basis would be at a price of Rs. 118.90 per Equity Shares of Rs. 10 each. The aggregate amount to be raised by the Company through the proposed preferential issue would be Rs. 59.45 crores. The proceeds from the preferential issue will be utilized to meet its working capital requirements and roll out of Advertising and Media Campaign's and for other corporate purposes.
The preferential allotment is in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended from time to time and is subject to the shareholders' approval at the ensuing Annual General Meeting to be held on Saturday, 30th September, 2017. These Equity Shares allotted on preferential basis will be listed at the Stock Exchanges where the equity shares of the Company are listed, subject to approvals of the Stock Exchanges and concerned authorities.
Shares of KISAN MOULDINGS LTD. was last trading in BSE at Rs.135.3 as compared to the previous close of Rs. 130.85. The total number of shares traded during the day was 219410 in over 737 trades.
The stock hit an intraday high of Rs. 137.35 and intraday low of 129. The net turnover during the day was Rs. 29678634.
