Greenlam Industries Ltd to raise Rs. 195 crore at Rs. 309 per share

The Board of Directors of Greenlam Industries Ltd, at its meeting held today i.e. 20th June, 2022, approved the issue of up to 63,10,680 (Sixty Three Lakhs Ten Thousand Six Hundred Eighty) equity shares having face value of Re. 1/- (Rupee One) each of the Company to Smiti Holding and Trading Company Private Limited ("Investor") (which is 100% ultimately beneficially owned by Mr. Jalaj Ashwin Dani and Mrs. Vita Jalaj Dani), a qualified institutional buyer on a preferential basis ("Preferential Issue") at a price of Rs. 309/- (Indian Rupees Three Hundred Nine) per equity share aggregating to Rs. 1,95,00,00,120/- (Indian Rupees One Hundred Ninety-Five Crore One Hundred Twenty Only), subject to the approval of regulatory / statutory authorities and the shareholders of the Company at the Extra-Ordinary General Meeting. The Preferential Issue will be subject to customary closing conditions between the Investor and the Company.

The board also approved convening of an Extra-Ordinary General Meeting of the Company on Saturday, l6th July, 2022 through video conferencing or other audio-visual means, to seek necessary approval of the members, for the aforementioned issuance.

Source : Equity Bulls

Keywords

GreenlamIndustries PreferentialIssue QIB FundRaising SmitiHolding JalajAshwinDani