Ramky Infrastructure Ltd to issue warrants at Rs. 101

A meeting of the board of directors of Ramky Infrastructure Ltd was held on September 30, 2017 at the registered office of the company.

The board approved the issue of 50,00,000 convertible equity warrants of Rs. 10 each at a price of Rs. 101 aggregating to Rs. 50,50,00,000 (Rupees Fifty Crore and Fifty Lakhs Only) to Mrs. A Dakshayani (wife of Mr. Alla Ayodhya Rami Reddy, Promoter Ramky Infrastructure Ltd) forming part of the promoter group.

The board also approved the issue of 70,00,000 convertible equity warrants of Rs. 10 each at a price of Rs. 101 aggregating to Rs. 70,70,00,000 (Rupees Seventy Crore and Seventy Lakhs Only) to non-promoter investors. Out of 70,00,000 warrants, 50,00,000 will be issued to Aadi Financial Advisors LLP, 10,00,000 warrants to Saraswati Commercial (India) Ltd and another 10,00,000 warrants to Ind Finance and Securities Trust Private Ltd.

Shares of RAMKY INFRASTRUCTURE LTD. was last trading in BSE at Rs.97.95 as compared to the previous close of Rs. 95.3. The total number of shares traded during the day was 16219 in over 165 trades.

The stock hit an intraday high of Rs. 99.15 and intraday low of 96.85. The net turnover during the day was Rs. 1592504.

Source : Equity Bulls

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