Stock Report

Commercial Syn Bags Ltd approves allotment of 6,07,500 shares



Posted On : 2022-09-17 17:19:13( TIMEZONE : IST )

Commercial Syn Bags Ltd approves allotment of 6,07,500 shares

The Board of Directors of Commercial Syn Bags Limited at its meeting held today i.e., Saturday, 17th September, 2022 have decided and approved the allotment of 6,07,500 (Six Lakhs Seven Thousand Five Hundred only) Equity shares of Rs. 10/- each at a premium of Rs.120/- per share to certain warrant holders belonging to other specified persons categorised as non-promoter group after receipt of balance amount due on 6,07,500 warrants aggregating Rs. 5,92,31,250/- (Rs Five Crores Ninety-Two Lakhs Thirty One Thousand Two Hundred Fifty Only) against the option exercise by them for convertible warrants issued on 15th October, 2021 on preferential basis.

The proposed allottees are Praavanya Ventures LLP - 4,57,500 and Hetal Ashish Mehta 1,50,000.

Source : Equity Bulls

Keywords

CommercialSynBags SharesAllotment WarrantsConversion NonPromoters