Granules India Ltd allots 4095230 Warrants

In connection with issue of warrants on preferential basis to promoters, as informed earlier, a Special Resolution has been passed by Shareholders of Granules India Ltd at the 24th Annual General Meeting held on August 13, 2015 regarding issue of not exceeding 40,95,230 warrants on a preferential basis to promoter of the Company entitling the allottee of warrants, from time to time to apply for and obtain allotment of one equity share of the face value of Re. 1/- each fully paid up against each of such warrant at such price and on such terms and conditions as may be in accordance with applicable provisions of law including SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended thereof. The price has been worked out at Rs. 84.91/- per warrant. In this connection we would like to inform you that after receipt of subscription money being 25% of warrant price in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, at a meeting of the Share Transfer and Stakeholders Relationship Committee of Board of Directors of the Company held today 40,95,230 warrants have been allotted on preferential basis to Mr. C. Krishna Prasad, Chairman and Managing Director and Promoter of the Company at a price of Rs. 84.91/- per warrant.

Fully paid-up equity shares of the face value of Re. 1/- each of the Company will be allotted on receipt of balance 75% warrant price on each warrant within eighteen months from 28th August, 2015.

As the Company has allotted warrants, there is no change in the Paid up share capital of the Company.

Shares of GRANULES INDIA LTD. was last trading in BSE at Rs.121.95 as compared to the previous close of Rs. 124.4. The total number of shares traded during the day was 431604 in over 5179 trades.

The stock hit an intraday high of Rs. 128.85 and intraday low of 120. The net turnover during the day was Rs. 54153673.

Source : Equity Bulls

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