Tanla Solutions Ltd approves allotment of 1483929 shares

The Board of Directors of Tanla Solutions Ltd has today, through resolution passed by circulation approved allotment of 14,83,929 equity shares of Re.1/- each of the Company, fully paid up, pursuant to conversion of warrants into equity to Mr. D. Uday Kumar Reddy.

As per Regulation 77(2) of the SEBI (ICDR) Regulations, 2009, 25% of the allotment price has been paid by the allottees into the Bank account of the Company at the time of subscription. And on 04th July 2017, the said Promoter, Mr. D. Uday Kumar Reddy has paid balance of 75% of the allotment price for 14,83,929 warrants. With this allotment, Mr. D. Uday Kumar Reddy has subscribed and was allotted 50,00,000 equity shares upon conversion of preferential warrants.

Shares of TANLA SOLUTIONS LTD. was last trading in BSE at Rs.33.7 as compared to the previous close of Rs. 33.65. The total number of shares traded during the day was 40374 in over 151 trades.

The stock hit an intraday high of Rs. 34.35 and intraday low of 33.6. The net turnover during the day was Rs. 1366031.

Source : Equity Bulls

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