Lyka Labs Ltd approves issue of warrants, equity shares

At the Board meeting of Lyka Labs Ltd held today, the Board has decided to offer and issue 5,50,000 (Five Lakhs & fifty thousand) convertible warrants to Shri. N. I. Gandhi, promoter of the Company and 61,00,000 (Sixtyone Lakhs) equity shares to non promoters on preferential basis.

The allottees include Shri. Mayank J Shah (20,00,000), Smt. Shruti M. Shah (15,00,000), Shri. Shreyans J. Shah (5,00,000), Shri. Prasham M Shah (15,00,000), M. J. Shah HUF (3,00,000) and Shri. Pranay Godha (3,00,000).

The above warrants/ shares shall be issued at a price which shall not be less than the price as determined in accordance with regulation 76 of SEBI (ICDR) Regulations, 2009.

The Company has convened EGM of shareholder on 3rd August, 2017 to obtain their approval for issue of shares/warrants on preferential basis.

Shares of LYKA LABS LTD. was last trading in BSE at Rs.51.9 as compared to the previous close of Rs. 53.6. The total number of shares traded during the day was 53692 in over 440 trades.

The stock hit an intraday high of Rs. 54.9 and intraday low of 50.65. The net turnover during the day was Rs. 2844021.

Source : Equity Bulls

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