Himadri Chemicals & Industries Ltd approves conversion of 12300 deep discount debentures

The Board of Directors of Himadri Chemicals & Industries Ltd at its meeting held on February 23, 2016, has approved the conversion of 12,300 Deep Discount Debentures into Equity shares of the Company.

The Board approved the issue of 3,26,75,297 equity shares of Re. 1/- each at price of Rs. 19/- per shares (including premium of Rs. 18/- per share) against conversion of Deep Discount Debentures on preferential basis to Himadri Coke & Petro Limited (the DDD Holder).

The Board also approved the convening of an Extra Ordinary General Meeting of the Company on March 22, 2016 for taking consent of the shareholders by means of Special Resolution for issue of equity shares on preferential basis.

Shares of HIMADRI CHEMICALS & INDUSTRIES LTD. was last trading in BSE at Rs.16.08 as compared to the previous close of Rs. 16.39. The total number of shares traded during the day was 249665 in over 595 trades.

The stock hit an intraday high of Rs. 16.5 and intraday low of 15.71. The net turnover during the day was Rs. 4012954.

Source : Equity Bulls

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