VBC Ferro Alloys allots shares on conversion of warrants

At the meeting of the Board of Directors of VBC Ferro Alloys Ltd held on 18th March, 2019 at the Registered Office and the board considered and approved the allotment of securities.

Sourya Vidyut Nigam Private Limited have subscribed for 1,92,530 convertible warrants against their balance entitlement of 282,000 by bringing the balance amount of Rs.33.75 for each warrant. The company has issued 192,530 No. of Equity Shares of Rs.10/- each with a premium of Rs.35/- for each equity share to Sourya Vidyut Nigam Private Limited by converting convertible warrants into Equity Shares.

Amaravati Infrastructure Private Limited have subscribed for 5,92,590 convertible warrants against their entitlement of 6,00,000 by bringing the balance amount of Rs.33.75 for each warrant.

The company issued 5,92,590 No. of Equity Shares of Rs.10/- each with a premium of Rs.35/- for each equity share to Amarvati Infrastructure Private Limited by converting convertible warrants into Equity Shares.

Frontline Minerals Private Limited have subscribed for 6,50,000 convertible warrants against their entitlement of 650,000 by bringing the balance amount of Rs.33.75 for each warrant.

The company issued 650,000 No. of Equity Shares of Rs.10/- each with a premium of Rs.35/- for each equity share to Frontline Minerals Private Limited by converting convertible warrants into Equity Shares.

The meeting of the board of directors commenced at 3.00PM and concluded at 5.00PM.

Shares of VBC FERRO ALLOYS LTD. was last trading in BSE at Rs.39.9 as compared to the previous close of Rs. 38. The total number of shares traded during the day was 404 in over 14 trades.

The stock hit an intraday high of Rs. 39.9 and intraday low of 38. The net turnover during the day was Rs. 15731.

Source : Equity Bulls

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