Tilaknagar Industries allots 26,41,509 equity shares

The Board of Directors of Tilaknagar Industries Limited, through circular resolution passed today i.e. Friday, March 11, 2022, has considered and approved the allotment of 26,41,509 (Twenty Six Lacs Forty One Thousand Five Hundred and Nine) Equity shares having face value of Rs. 10/- each (Rupees Ten Only) for cash at an issue price of Rs. 53/- per share (including a premium of Rs. 43/- per share) to Arunoday Investments Private Limited, promoter group of the Company upon conversion of 26,41,509 Warrants issued on preferential basis.

The Members of the Company in their Extra Ordinary General Meeting held on Saturday, November 27, 2021 had, approved the issue of 59,43,396 Warrants to Arunoday Investments Private Limited, promoter group of the Company, convertible into equal numbe0r of Equity shares within a period of 18 months from the date of allotment.

These shares shall rank pari-passu in all respects with existing Equity shares of the Company.

The Company has received the in-principle approvals from the National Stock Exchange of India Limited on December 08, 2021 and from BSE Limited on December 09, 2021. The application for listing and trading approval of the Stock Exchanges for the Equity shares allotted as above shall be made in due course.

The Existing paid-up Equity Share Capital of 15,59,80,295 equity shares has increased to 15,86,21,804 equity shares post the above allotment.

Shares of Tilaknagar Industries Limited was last trading in BSE at Rs. 71.40 as compared to the previous close of Rs. 69.75. The total number of shares traded during the day was 17153 in over 413 trades.

The stock hit an intraday high of Rs. 73.00 and intraday low of 70.35. The net turnover during the day was Rs. 1232407.00.

Source : Equity Bulls

Keywords

TilaknagarIndustries INE133E01013 SharesAllotment PromoterGroup