Foods and Inns Ltd allots 6 lakh shares

The Securities Allotment Committee of the Board of Directors of Foods and Inns Limited ("Company") at their meeting held today i.e. January 23, 2023 has issued and allotted 6,00,000 equity shares of a face value of Re.1/- each fully paid up to Aeon Trading LLP consequent to the exercise of 6,00,000 out of the 61,61,740 Warrants held by Aeon Trading LLP.

The allotment has been made for cash, upon the receipt of the remaining exercise price of Rs. 66.5 per Warrant (being an amount equivalent to the 70% of the warrant exercise price of Rs. 95/- per warrant), aggregating to Rs. 3,99,00,000 /-. These equity shares allotted on exercise of the warrants, shall rank pari passu in all respects with the existing equity shares, including dividend, if any.

The shareholding of Aeon Trading LLP after allotment of equity shares upon exercise of Warrants will be 1.18% of the Equity Share Capital.

Consequent to the said allotment, the Paid up Equity Share Capital of the Company stands increased to Rs. 5,09,38,260 divided into 5,09,38,260 Equity Shares of face value of Re. 1 each.

Shares of FOODS & INNS LTD. was last trading in BSE at Rs. 140.95 as compared to the previous close of Rs. 140.70. The total number of shares traded during the day was 14918 in over 92 trades.

The stock hit an intraday high of Rs. 142.90 and intraday low of 138.40. The net turnover during the day was Rs. 2115023.00.

Source : Equity Bulls

Keywords

FOODSandINNS INE976E01023 SharesAllotment WarrantsConversion