Cella Space to issue warrants at Rs. 10, sell property for Rs. 80 crores

The Board of Directors of Cella Space Limited, at their meeting held today, considered and approved the issue of 10,00,000 (Ten Lakh) numbers of Convertible Equity Share Warrants (Warrants) of Rs.10/- (Rupees Ten only) each by way of conversion of Unsecured Loan amounting to Rs.1,00,00,000/- (Rupees One Crores only) availed from Mr. S Rajkumar, Promoter and Managing Director subject to approval of shareholders.

The board also approved sale of Immoveable Property property admeasuring an extent of 384.83 ares of land along with warehouse / industrial buildings bearing Nos. C-100, C-200A, C-200B, C-300 & C-400 together with other buildings and infrastructure located at Edayar Industrial Development Area, Kadungalloor Village, Paravur Taluk, Ernakulam Dist, Kerala - 683110 for a gross consideration not less than Rs.80 Crores subject to approval of shareholders.

Shares of Cella Space Ltd was last trading in BSE at Rs. 5.62 as compared to the previous close of Rs. 5.88. The total number of shares traded during the day was 635 in over 10 trades.

The stock hit an intraday high of Rs. 6.15 and intraday low of 5.62. The net turnover during the day was Rs. 3677.00.

Source : Equity Bulls

Keywords

CellaSpace INE266H01014 ConvertibleWarrants ImmoveableProperty Sale