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Asian Granito Ltd approves allotment of 2,88,888 Equity Shares pursuant to conversion of Warrant

Posted On: 2021-03-08 09:07:12 (Time Zone: Arizona, USA)


Asian Granito Ltd had passed special resolution in respect of Issue of Warrants, Convertible into Equity Shares on Preferential Basis at the Extraordinary General Meeting of the Members held on Friday, 05th April, 2019. Subsequently Company has received In-principle approval from the stock exchanges and the Board of Directors have allotted 47,00,000 fully convertible warrants on Preferential Basis at Rs. 10/- (Rupees Ten only) each at a premium of Rs. 170/- each by way of passing circular resolution dated 09th September, 2019.

The company has now received Letter from Mr. Kamleshkumar B. Patel (Promoter) for exercising his right of conversion of 2,88,888 warrants out of 12,50,000 warrants allotted into equity shares as the balance amount of Rs. 3,90,00,000/- (Rupees Three Crore Ninety Lakhs Only) at Rs. 135/- per warrant being 75% of balance amount is paid by Mr. Kamleshkumar B. Patel on 2,88,888 warrants. Board of Directors have allotted 2,88,888 equity shares of Rs. 10/- each at a premium of Rs. 170/- each upon conversion of warrants to Mr. Kamleshkumar B. Patel by way of passing circular resolution as on 8th March, 2021.

Shares of ASIAN GRANITO INDIA LTD. was last trading in BSE at Rs.173.4 as compared to the previous close of Rs. 179.85. The total number of shares traded during the day was 144902 in over 1649 trades.

The stock hit an intraday high of Rs. 182.6 and intraday low of 171.2. The net turnover during the day was Rs. 25404506.


Source: Equity Bulls

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