Indostar Capital Finance Ltd allots securities to BCP V Multiple Holdings Pte. Ltd

The Board of directors of Indostar Capital Finance Ltd, by way of a circular resolution passed on 27 May 2020, has considered and allotted 3,01,72,414 equity shares of the face value of INR 10 each, at a price of INR 290 per equity share and 1,20,68,966 compulsorily convertible preference shares having face value of INR 10 each, at a price of INR 290 per preference share to BCP V Multiple Holdings Pte. Ltd. on preferential basis, for an aggregate consideration of INR 12,25,00,00,200.

Each preference share will carry a dividend of 10% (ten percent) per annum (calculated on issue price), net of any taxes, and will be converted to 1 (One) equity share per preference share within 18 (eighteen) months from the date of issuance.

Pursuant to the aforesaid allotment, the paid-up capital of the Company stands increased from INR 92,45,49,150 to INR 1,34,69,62,950.

Shares of Indostar Capital Finance Ltd was last trading in BSE at Rs.280.4 as compared to the previous close of Rs. 278.3. The total number of shares traded during the day was 47665 in over 851 trades.

The stock hit an intraday high of Rs. 282.75 and intraday low of 277. The net turnover during the day was Rs. 13216599.

Source : Equity Bulls

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