Hindustan Foods Ltd to allot 27,77,779 warrants at Rs. 360

The Board of directors of Hindustan Foods Ltd at its meeting held today, April 18, 2019 (started at 1:30 p.m. and concluded at 02:30 p.m.) has considered and approved the allotment of 27,77,779 share warrants convertible into equity shares of the Company of Rs. 10/- each at a premium of Rs. 350/- per share on Preferential basis pursuant to the Resolution passed by the shareholders through Postal Ballot, the results of which was declared on 6th April, 2019. The in-principle approval was received from BSE Limited on 27th March, 2019. Further, subscription price equivalent to 25% of the issue price has been received from the below mentioned non-promoter entities.

Fully paid-up equity shares of the face value of Rs. 10/- each of the Company will be allotted on receipt of balance 75% Issue Price on each Warrant within eighteen months from April 18, 2019. As the Company has allotted Warrants, there is no change in the paid-up share capital of the Company.

Shares of HINDUSTAN FOODS LTD. was last trading in BSE at Rs.414 as compared to the previous close of Rs. 424.95. The total number of shares traded during the day was 9675 in over 102 trades.

The stock hit an intraday high of Rs. 439 and intraday low of 411.1. The net turnover during the day was Rs. 4083171.

Source : Equity Bulls

Keywords