Stake Sale

NACL Industries Ltd allots 2.5 crore shares

Posted On : 2020-03-25 13:45:39( TIMEZONE : IST )

NACL Industries Ltd allots 2.5 crore shares

The Warrant holders of NACL Industries Ltd have exercised their right of converting the 2,50,00,000 (Two Crores Fifty Lakhs) Warrants, issued and allotted by the Company on 27th March, 2019 on preferential basis, by submitting Warrant Conversion Form along with Warrant Exercise Amount of Rs.24/- per warrant (i.e. 75% of the issue price) aggregating Rs. 60,00,00,000 (Rupees Sixty Crores Only).

Upon the aforesaid exercise of options for converting the Warrants into Equity shares, the Stakeholders Relationship Committee ('SRC'), duly authorised by the Board of Directors in this regard, in its meeting held on Tuesday, the 24th day of March, 2020 has inter-alia allotted 2,50,00,000 Equity Shares of face value of Rs.1/- each at an issue price of Rs.32/- per share (i.e. premium of Rs.31/- each) in the ratio of 1:1.

Shares of NACL Industries Ltd was last trading in BSE at Rs.18.7 as compared to the previous close of Rs. 18.25. The total number of shares traded during the day was 10152 in over 26 trades.

The stock hit an intraday high of Rs. 19.5 and intraday low of 17.9. The net turnover during the day was Rs. 189602.

Source : Equity Bulls