Inspirisys Solutions Limited allots shares at Rs. 62.14 to promoter entity

Pursuant to the approval of the shareholders at the extraordinary general meeting, and pursuant to the receipt of the application money, the board of directors of Inspirisys Solutions Limited (Formerly Accel Frontline Limited) ("Company") at its meeting held on March 27, 2019 has considered and approved the issue and allotment of 42,30,000 equity shares of face value Rs. 10 each, for cash, at a price of Rs. 62.14 per equity share (including a premium of Rs.52.14 per equity share), aggregating to Rs. 26,28,52,200 by way of a preferential issue to the promoter of the Company, CAC Holdings Corporation, a company based in Japan.

Consequently. the issued, subscribed and paid-up equity share capital of the Company stands increased to Rs. 33,99,18,730 (divided into 3,39,91 ,873 equity shares of face value Rs.10 each) from Rs.29,76,18,730 (divided into 2,97.61 ,873 equity shares of face value Rs.10 each). Equity shares allotted on the preferential allotment basis shall rank pari passu with the existing equity shares of the Company in all respects.

Shares of Inspirisys Solutions Ltd was last trading in BSE at Rs.54 as compared to the previous close of Rs. 52.65. The total number of shares traded during the day was 1134 in over 21 trades.

The stock hit an intraday high of Rs. 56.65 and intraday low of 52.5. The net turnover during the day was Rs. 59849.

Source : Equity Bulls

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