Garnet International Ltd approves issue of warrants at Rs. 820

The Board of Directors of Garnet International Ltd at its meeting held on November 14, 2017, has approved the proposal to issue 3,20,000 Convertible Share Warrants at a price of Rs 820 /- per Convertible Share Warrant on preferential basis to Mrs. Anita Chainrai - a Non-Promoter Individual Investor, subject to the approval of Shareholders in their meeting. Each warrant shall carrying a right to subscribe to equal number of Equity Shares in the Company to be converted with in a period of 18 months in cash by way of Preferential Allotment in terms of Companies Act, 2013 and as per the Guidelines for Preferential Issue issued by SEBI under SEBI (ICDR) Regulation, 2009.

The Board also approved proposal to call Board Meeting on 18th November, 2017 in order to approve & finalize the date and notice of EGM for issue of Convertible Share Warrants to Mrs. Anita Chainrai - a Non-Promoter Individual Investor.

Shares of GARNET INTERNATIONAL LTD. was last trading in BSE at Rs.649 as compared to the previous close of Rs. 695.6. The total number of shares traded during the day was 1448 in over 47 trades.

The stock hit an intraday high of Rs. 699 and intraday low of 649. The net turnover during the day was Rs. 966438.

Source : Equity Bulls

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