Ashoka Metcast Limited allots 30,12,000 convertible Warrants

The Board of Directors of Ashoka Metcast Limited in its meeting held today i.e. on December 1, 2021 from 1:00 p.m. to 1:20 p.m. at the Registered Office of the Company, allotted on preferential basis 30,12,000 convertible Warrants at an issue price of Rs. 10/- per warrant in terms of the special resolution passed by the shareholders of the Company at the AGM held on September 30, 2021. The Warrants shall be converted into equal number of equity shares of face value of Rs. 10/- each at any time before eighteen months from the date of allotment.

The allotment is made to below mentioned Promoter Group/Non-Promoter from whom upfront payment of 25 % of issue price of convertible warrants is received.

Payal Shalin Shah (Promoter group) - 12,06,000 warrants
Tapan Sureshsinhji Desai (Non-Promoter) - 8,10,000 warrants
Tiw Systems Private Limited (Non-Promoter) - 9,96,000 warrants

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

Shares of Ashoka Metcast Ltd was last trading in BSE at Rs. 3.97 as compared to the previous close of Rs. 3.79. The total number of shares traded during the day was 30000 in over 5 trades.

The stock hit an intraday high of Rs. 3.97 and intraday low of 3.61. The net turnover during the day was Rs. 110460.00.

Source : Equity Bulls

Keywords

AshokaMetcastLtd INE760Y01011 PreferentialIssue ConvertibleWarrants FundRaising