Confidence Petroleum India Ltd approves allotment of 2 crore warrants

The Board of Directors of Confidence Petroleum India Limited at its meeting held on 29th December, 2022, has, approved allotment of 20000000 warrants at a price of Rs. 63.50/- per warrant, convertible into 20000000 equity shares of Rs. 1/- each, on preferential basis, to the promoter / promoter group and others in compliance with applicable provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 as amended.

Each warrant is convertible into one (1) equity share and the conversion can be exercised at any time during the period of 18 months from the date of allotment of warrants on such other terms and conditions as applicable.

Shares of Confidence Petroleum India Limited was last trading in BSE at Rs. 78.20 as compared to the previous close of Rs. 77.70. The total number of shares traded during the day was 97028 in over 1395 trades.

The stock hit an intraday high of Rs. 79.20 and intraday low of 76.80. The net turnover during the day was Rs. 7551386.00.

Source : Equity Bulls

Keywords

ConfidencePetroleumIndia INE552D01024 CONFIPET FundRaising ConvertibleWarrants