Mr. Raghav Bahl, promoter of Quint Digital Media Limited decides against converting bulk of the warrants

Mr. Raghav Bahl Promoter of Quint Digital Media Limited, on October 24, 2020, has announced regarding the subscription to the entitlement attached to the Equity Warrants held by him.

1 Crore Equity Warrants was earlier subscribed by the Promoter Group i.e. Raghav Bahl, Ritu Kapur and ML Jain on May 25, 2019 pursuant to the approval of the shareholders. Upon exercise of the entire entitlements attached to said Equity Warrants, the shareholding of the Promoter and Promoter Group would be 68.80%, well above the controlling threshold.

There is an unprecedented global macro-economic changes led by COVID-19 which has unleashed various conflicting economic factors, together causing uncertainty & downtrend in the economy, volatility in markets, diminishing capital inflows etc. A natural fallout of all these uncertain circumstances is the need to devise a strong cash management and investment strategy.

In light of the above factors, Mr. Raghav Bahl has decided to limit its subscription to the entitlements attached to the Equity Warrants. Hence, out of the total 7,659,596 Equity Warrants held by him, he is contemplating to subscribe to the entitlements attached to 750,000 Equity Warrants within the prescribed timelines. He assured Board Members that he has full confidence in the potential of the company and the milestones it is going to achieve in coming years.

Shares of Quint Digital Media Limited (formerly Gaurav Mercantiles Ltd) was last trading in BSE at Rs.380 as compared to the previous close of Rs. 380. The total number of shares traded during the day was 75 in over 2 trades.

The stock hit an intraday high of Rs. 380 and intraday low of 380. The net turnover during the day was Rs. 28500.

Source : Equity Bulls

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