The board of directors of Krebs Biochemicals & Industries Limited (the "Board") at its meeting held on 22nd October, 2021 and adjourned meeting held on 23rd October, 2021, subject to the approval of the shareholders of the Company, has approved the proposal to increase Authorized Share Capital of the Company from the present Rs. 53,00,00,000/- (Rupees Fifty three Crore only) comprising of 2,30,00,000 (Two Crore thirty Lakhs) Equity Shares of Rs. 10/- each and 30,00,000 (Thirty Lakhs) Preference Shares of Rs. 100/- to Rs. 153,00,00,000 (One hundred and Fifty three Crores only) comprising of 2,30,00,000 (Two Crore thirty Lakhs) Equity Shares of Rs. 10/- each and 1,30,00,000 (One Crore Thirty Lakhs) Preference Shares of Rs. 100/-.
The board also approved proposal to offer, issue and allot Redeemable Non-Convertible Non-Cumulative Preference Shares (RNNCPS) to the extent of Rs. 100,00,00,000/- (Rupees Hundred Crore Only) divided into 1,00,00,000/- (One Crore only) Preference shares of Rs.100/- (Rupees One Hundred) each, forming part of the authorised capital of the company and be offered and issued in one or more tranches, on a Preferential basis to M/s. Ipca Laboratories Limited, forming part of the Promoter/Promoter Group of the Company.
An Extraordinary General Meeting of the Company will be held on 29th November, 2021 to obtain shareholders 'approval for the above.
The proposed Issue will be undertaken in accordance with the provisions of Companies Act, 2013 and of the SEBI Regulations and any other applicable rules / regulations / guidelines, if any, prescribed by any other statutory authorities.
Shares of Krebs Biochemicals and Industries Limited was last trading in BSE at Rs. 163.65 as compared to the previous close of Rs. 160.40. The total number of shares traded during the day was 5569 in over 168 trades.
The stock hit an intraday high of Rs. 165.50 and intraday low of 151.00. The net turnover during the day was Rs. 903576.00.