Bombay Rayon Fashions Ltd allots 46677611 shares

Pursuant to approval obtained from the shareholders in the Extra-Ordinary General Meeting of Bombay Rayon Fashions Ltd held on May 09, 2016 for issue of 5,63,21,428 equity shares to the lenders of the Company pursuant to conversion of WCTL & FITL in terms of CDR Package, Share Issue Committee of the Board of Directors at their Meeting held on June 15, 2016 allotted, in first tranche, 4,66,77,611 equity shares of Rs. 10/- each, at a price of Rs. 165.88 per share to the Lenders of the Company on the conversion of Funded Interest Term Loan (FITL) and Working capital term Loan (WCTL) in accordance with SEBI Guidelines for Preferential Issues.

On allotment of aforesaid shares to the Lenders of the Company, the holding of promoters has come down to 68.34% with the increase in public shareholding of the Company to 31.66% of the paid up capital. Accordingly the Company has now become compliant with the requirement of Minimum Public Shareholding.

Shares of BOMBAY RAYON FASHIONS LTD. was last trading in BSE at Rs.148 as compared to the previous close of Rs. 143.05. The total number of shares traded during the day was 4717 in over 207 trades.

The stock hit an intraday high of Rs. 152.2 and intraday low of 142.1. The net turnover during the day was Rs. 705334.

Source : Equity Bulls

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