Prakash Industries Ltd allots 75 lakh warrants at Rs. 44.10

The Allotment Committee of Prakash Industries Limited in its meeting held on 12th December, 2020 at 2.00 p.m. and concluded at 2.30 p.m. has allotted 75,00,000 Convertible Equity Warrants at a price of Rs. 44.10 aggregating to Rs. 33,07,50,000/- on receipt of 25% upfront money by the Company, to Shri Ved Prakash Agarwal, Promoter of Prakash Industries Ltd.

Each warrant is convertible into one fully paid-up equity share of face value of Rs. 10/- of the Company in accordance with the provisions of Chapter VII of SEBI ICDR Regulations, on payment of the balance consideration i.e. 75% (Seventy Five Percent) by the Warrant holder at the time of allotment of equity shares pursuant to exercise of option against each such Warrant.

Shares of PRAKASH INDUSTRIES LTD. was last trading in BSE at Rs.55.85 as compared to the previous close of Rs. 56. The total number of shares traded during the day was 49126 in over 522 trades.

The stock hit an intraday high of Rs. 57.75 and intraday low of 55.5. The net turnover during the day was Rs. 2788487.

Source : Equity Bulls

Keywords