Ganesh Benzoplast Limited allots 1,05,75,128 Equity Shares

The Board of Directors ("Board") of Ganesh Benzoplast Limited (GBL) at their meeting held today i.e. Tuesday, November 17,2020, have allotted equity shares as consideration for acquisition.

Pursuant to the approval granted by the Shareholders by Postal Ballot dated November 06,2020, and pursuant to the "In-principle Approval" granted by the BSE dated November 05,2020, considered and approved the issue and allotment of 1,05,75,128 Equity Shares of face value of Re. 1/- each, for consideration other than cash, at a price of Rs. 62/- per equity share (including a premium of Rs. 61/- per equity share) aggregating to Rs. 65,56,57,936/-, (Rupees Sixty-Five Crores Fifty-Six Lacs Fifty-Seven Thousand Nine Hundred Thirty-Six Only) by way of preferential issue to the following investors:

- Stolt-Nielsen Singapore Pte Ltd. - 61,11,048
- Tarang Advisory Private Limited - 8,33,516
- Sushila Pilani - 16,39,950
- Poonam Pilani - 9,21,007
- Rishi Pilani - 7,17,399
- Anish Modi - 3,50,806
- Rhea Rishi Pilani - 701
- Vedansh Rishi Pilani - 701.

Consequently, the issued, subscribed and paid-up equity share capital of the Company stands increased to Rs. 6,23,59,421 (divided into 6,23,59,421 equity shares of Re. 1/- each) from Rs. 5,17,84,293 (divided into 5,17,84,293 equity shares of Re. 1/- each). The Equity Shares allotted on preferential basis shall rank pari passu with the existing equity shares of the Company in all respects.

Shares of GANESH BENZOPLAST LTD. was last trading in BSE at Rs.67.5 as compared to the previous close of Rs. 69.15. The total number of shares traded during the day was 30480 in over 199 trades.

The stock hit an intraday high of Rs. 70 and intraday low of 67.1. The net turnover during the day was Rs. 2066075.

Source : Equity Bulls

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