VA Tech Wabag Ltd allots 75 lakh shares at Rs. 160

The Board of Directors ("Board") of VA TECH WABAG LIMITED (NSE Symbol: WABAG / BSE Scrip Code: 533269) met today, the 29th September 2020 to consider and approve the issue and allotment of 75,00,000 equity shares of face value of Rs. 2/- each, for cash, at a price of Rs. 160/- per equity share (including a premium of Rs. 158/- per equity share) aggregating to Rs. 120,00,00,000 (Rupees One Hundred Twenty Crore Only) by way of preferential issue to the following investors:

Mrs. Rekha Rakesh Jhunjhunwala - 50,00,000
M/s. Basera Home Finance Private Limited - 15,00,000
Mrs. Sushma Anand Jain / Mr. Anand Jaikumar Jain (Joint Holding) - 10,00,000

Consequently, the issued, subscribed and paid-up equity share capital of the Company stands increased to Rs. 12,43,80,856 (divided into 6,21,90,428 equity shares of Rs. 2/- each) from Rs. 10,93,80,856 (divided into 5,46,90,428 equity shares of Rs. 2/- each). Equity Shares allotted on preferential basis shall rank pari passu with the existing equity shares of the Company in all respects.

Shares of VA TECH WABAG LTD. was last trading in BSE at Rs.190.5 as compared to the previous close of Rs. 190. The total number of shares traded during the day was 32238 in over 1060 trades.

The stock hit an intraday high of Rs. 194.9 and intraday low of 188. The net turnover during the day was Rs. 6150522.

Source : Equity Bulls

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