Nila Infrastructures Ltd allots equity shares to the Promoter and Promoter Group upon conversion of warrants

The convertible warrant holder of preferential issue made during the year 2014-15; have on June 30, 2016 exercised their rights in full and applied for conversion of warrants into equity shares. Consequently the Board of Directors of Nila Infrastructures Ltd have by way of circular resolution, made allotment of 2,25,00,000 (Two Crore Twenty Five Lac Only] equity shares of Re. 1/- each at an issue price of Rs. 5/- per share (including premium of Rs. 4/- per share) to these warrant holders.

Further the Company submitted that upon allotment of these equity shares; the paid up equity share capital of the Company is increased to Rs. 39,27,26,200/- (Rupees Thirty Nine Crore Twenty Seven Lac Twenty Six Thousand and Two Hundred only) comprising of 39,27,26,200 equity shares of Re. 1/- each.

Subsequent to this allotment, the shareholding of the Promoter and Promoter Group has increased to 62.08% of the enhanced paid up equity share capital of the Company.

Shares of NILA INFRASTRUCTURES LTD. was last trading in BSE at Rs.12.09 as compared to the previous close of Rs. 12.04. The total number of shares traded during the day was 52780 in over 80 trades.

The stock hit an intraday high of Rs. 12.3 and intraday low of 10.55. The net turnover during the day was Rs. 637848.

Source : Equity Bulls

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