Gujarat Natural Resources Limited allots 1.35 crore warrants

The Board of Directors of Gujarat Natural Resources Limited in its meeting held today i.e. on January 4, 2021 from 3:00 p.m. to 3:30 p.m. at the Registered Office of the Company, allotted on preferential basis 1,35,00,000 convertible Warrants at an issue price of Rs. 12/- per warrant in terms of the special resolution passed by the shareholders of the Company at the EOGM held on December 19, 2020. The Warrants shall be converted into equal number of equity shares of face value of Rs. 10/- each at a premium of Rs. 2/- per equity share at any time before eighteen months from the date of allotment.

The allotment is made to non-promoters Sumit Lakhotia (30 lakh warrants), Keyur Balkrishna Thakkar (30 lakh warrants), Third eye Tradelink Private Limited (37.50 lakh warrants) and Wealthstreet Finserve Private Limited (37.50 lakh warrants) from whom upfront payment of 25% of issue price of convertible warrants is received.

Since the Company has allotted warrants, there is no change in paid-up equity share capital of the Company at present.

Shares of Gujarat Natural Resources Limited was last trading in BSE at Rs.11.25 as compared to the previous close of Rs. 11.27. The total number of shares traded during the day was 14057 in over 116 trades.

The stock hit an intraday high of Rs. 11.9 and intraday low of 10.5. The net turnover during the day was Rs. 156855.

Source : Equity Bulls

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