Sungold Media and Entertainment Ltd to allot 60 lakh convertible warrants

The Board of Directors of Sungold Media and Entertainment Ltd at its meeting held on Tuesday, 5th July, 2022 at Registered office situated at 13, Radhakrushna Mandir Compound, Village - Rajpipla Nandod Narmada-393145, considered and approved the preferential issue of Equity Shares through convertible warrants, subject to the approval of the shareholders of the Company in the Annual General Meeting and subject to the other regulatory approvals, the issuance and allotment of 60,00,000 (Sixty Lakhs)convertible warrants into equity shares of face value of Rs.10/- each at issue price of Rs.10/-(Rupees Ten Only) per share, amounting to Rs. 600.00 Lakhs.

The Board issued such Convertible warrants for consideration as follows:

- 25% of Issue Price i.e Rs. 2.5 (Rupees Two and Half Only) at the time of Application Received.

- And remaining 75% of Issue Price i.e Rs. 7.5 (Rupees Seven And Half Only) within 18 Months from the date of allotment.

Shares of Sungold Media and Entertainment Ltd was last trading in BSE at Rs. 12.50 as compared to the previous close of Rs. 11.50. The total number of shares traded during the day was 10000 in over 1 trades.

The stock hit an intraday high of Rs. 12.50 and intraday low of 12.50. The net turnover during the day was Rs. 125000.00.

Source : Equity Bulls

Keywords

SungoldMediaandEntertainment INE266S01011 ConvertibleWarrants PreferentialIssue FundRaising