Foods and Inns Ltd allots 36000 shares on conversion of warrants

The Board of Directors of Foods and Inns Ltd at its meeting held on March 13, 2018 have considered and approved the allotment of 36000 equity shares of Rs. 10 each of the company to Mr. Milan Dalal belonging to promoter and promoter group, upon conversion of 36000 fully convertible warrants, each convertible into one equity share of face value of Rs. 10 each of the company at an exercise price of Rs. 720 per warrant including premium of Rs. 710.

With this allotment, the equity share capital of the company shall increase from present level of Rs. 1,60,59,420 comprising of 16,05,942 equity shares to Rs. 1,64,19,4209 comprising 16,41,942 equity shares.

The promoter stake has increased to 43.61% of the enhanced paid up capital of the company.

Shares of FOODS & INNS LTD. was last trading in BSE at Rs.1745 as compared to the previous close of Rs. 1628.95. The total number of shares traded during the day was 2269 in over 119 trades.

The stock hit an intraday high of Rs. 1765 and intraday low of 1670. The net turnover during the day was Rs. 3934230.

Source : Equity Bulls

Keywords