Hotel Leelaventure Ltd allots 16,39,43,459 shares to JM Financial ARC

Subsequent to the approval accorded by the Shareholders of Hotel Leelaventure Ltd under Section 62(3) and other applicable provisions of the Companies Act, 2013, Memorandum & Articles of Association of the Company and in terms of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and pursuant to prior in-principle approvals received from the Stock Exchanges to issue and allot equity shares on conversion of debt, the Finance Committee of the Board of Directors of the Company at their meeting held today have issued and allotted to JM Financial Asset Reconstruction Company Limited, 16,39,43,459 fully paid up Equity Shares of Rs.2 each, at a price of Rs.16.78 per Equity Share (including premium of Rs.14.78 per Equity Share) aggregating to Rs. 275.09 crores.

Shares of HOTEL LEELAVENTURE LTD. was last trading in BSE at Rs.20.2 as compared to the previous close of Rs. 19.25. The total number of shares traded during the day was 140165 in over 346 trades.

The stock hit an intraday high of Rs. 20.7 and intraday low of 19.15. The net turnover during the day was Rs. 2765035.

Source : Equity Bulls

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