Panatone Finvest increases stake in Tejas Networks Limited to 52.45%

The Share Allotment Committee of the Board of Directors of Tejas Networks Limited ("Company") at their meeting held through Video-Conference today i.e. April 8, 2022 has issued and allotted 3,68,21,706 equity shares of a face value of Rs.10/- each fully paid up to Panatone Finvest Limited consequent to the exercise of 3,68,21,706 Series A Warrants held by Panatone Finvest Limited.

The allotment has been made for cash, upon the receipt of the remaining exercise price of Rs. 193.50 per Series A warrant (being an amount equivalent to the 75% of the warrant exercise price of Rs. 258/- per warrant), aggregating to Rs. 712,50,00,111/-. These equity shares allotted on exercise of the warrants, shall rank pari passu in all respects with the existing equity shares, including dividend, if any.

The shareholding of Panatone Finvest Limited after allotment of equity shares upon exercise of Series A Warrants will be 52.45% of the Equity Share Capital.

Shares of Tejas Networks Limited was last trading in BSE at Rs. 541.40 as compared to the previous close of Rs. 516.35. The total number of shares traded during the day was 410491 in over 13519 trades.

The stock hit an intraday high of Rs. 542.15 and intraday low of 514.80. The net turnover during the day was Rs. 220223014.00.

Source : Equity Bulls

Keywords

TejasNetworks INE010J01012 PantaoneFinvest StakeIncrease