Kohinoor Foods Ltd approves allotment of warrants, shares

The Board of Directors of Kohinoor Foods Ltd at its Meeting held today , i.e. on 4th October, 2018, has approved the allotment of 58,14,000 nos. of Warrants having attached thereto the right to convert into equal number of Equity Shares of the Company, to the Promoters, pursuant to Special Resolution passed by the Members of the Company on 25th September, 2017 and receipt of In-principle approval from Stock Exchanges.

The board also approved the allotment of 18,30,000 nos. of Equity Shares @ Rs. 76/- per share (face value Rs. 10/- per share and Premium of Rs. 66/- per share) amounting to Rs. 13,90,80,000/- (Rupees Thirteen Crore Ninety Lakh Eighty Thousand) pursuant to conversion of Warrants into equal number of Equity Shares of the Company, to the Promoters (Mr. Jugal Kishore Arora, Mr. Satnam Arora and Mr. Gurnam Arora).

Shares of KOHINOOR FOODS LTD. was last trading in BSE at Rs.31.45 as compared to the previous close of Rs. 30.25. The total number of shares traded during the day was 10612 in over 147 trades.

The stock hit an intraday high of Rs. 32.35 and intraday low of 31. The net turnover during the day was Rs. 334876.

Source : Equity Bulls

Keywords