Tilaknagar Industries Ltd updates on allotment of securities

The Board of Directors of Tilaknagar Industries Ltd vide circular resolution passed on January 03, 2023 has considered and approved the allotment of 34,02,777 equity shares of Rs. 72/- each upon conversion of warrants to Investors (Non-Promoter Group) as follows:

- 16,66,666 Equity Shares of face value Rs. 10/- each for cash at a price of Rs. 72/- per equity share (including a premium of Rs. 62/-per equity share) for an amount aggregating to Rs. 8,99,99,964/- to Mr. Amireddy Jaipal Reddy, Investor (Non-Promoter Group) consequent upon exercise of option to convert 16,66,666 warrants of Rs. 72/- per warrant (including a premium of Rs. 62/- per warrant) into equity shares and upon receipt of full subscription amount.

- 17,36,111 Equity Shares of face value Rs. 10/- each for cash at a price of Rs. 72/- per equity share (including a premium of Rs. 62/-per equity share) for an amount aggregating to Rs. 9,37,49,994/- to S.S Spirits LLP, Investor (NonPromoter Group) consequent upon exercise of option to convert 17,36,111 warrants of Rs. 72/- per warrant (including a premium of Rs. 62/- per warrant) into equity shares and upon receipt of full subscription amount.

The equity shares allotted as mentioned above shall rank pari-passu in all respect with existing equity shares of the Company.

The application for listing and trading approval of the Stock Exchanges for the equity shares allotted as above shall be made in due course.

Consequent upon the above allotment of equity shares, the paid-up equity share capital of the Company stands increased from 18,18,34,143 equity shares (Rs. 181,83,41,430) to 18,52,36,920 equity shares (Rs. 185,23,69,200).

Shares of Tilaknagar Industries Limited was last trading in BSE at Rs. 116.40 as compared to the previous close of Rs. 115.10. The total number of shares traded during the day was 102463 in over 1582 trades.

The stock hit an intraday high of Rs. 120.85 and intraday low of 115.10. The net turnover during the day was Rs. 12280418.00.

Source : Equity Bulls

Keywords

TilaknagarIndustries INE133E01013 WarrantsConversion