Sambhaav Media Ltd approves allotment of 8010000 Equity Shares Upon Conversion Of Warrants

Sambhaav Media Ltd has announced with reference to the warrant holders, of preferential issue made pursuant to the special resolution passed at the Annual General Meeting held on September 10, 2016, have today applied for conversion of some warrants into equity shares.

Consequently the Board of Directors of the Company have by way of circular resolution made allotment of 8010000 (Eighty Lac and Ten Thousand Only) equity shares of Re. 1/- each at an issue price of Rs. 5/- per shares (including premium of Rs. 4/- per share) to these warrant holders. It is further submitted that upon allotment of these equity shares; the paid up equity share capital of the Company is increased to Rs. 16,29,20,840/- (Rupees Sixteen Crore Twenty Nine Lac Twenty Thousand Eight Hundred and Forty Only) comprising of 162920840 equity shares of Re 1/- each.

Subsequent to this allotment, the shareholding of the Promoter and Promoter Group has increased to 64.80% of the enhanced paid up equity share capital of the Company.

Shares of SAMBHAAV MEDIA LTD. was last trading in BSE at Rs.6.55 as compared to the previous close of Rs. 6.79. The total number of shares traded during the day was 4108 in over 12 trades.

The stock hit an intraday high of Rs. 6.8 and intraday low of 6.55. The net turnover during the day was Rs. 26935.

Source : Equity Bulls

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