Prakash Industries Ltd allots 75 lakh shares on conversion of warrants

Prakash Industries Ltd has received a request from a convertible equity warrant holder of promoter and promoter group for conversion of 75,00,000 convertible equity warrants in to 75,00,000 Nos. equity shares of Rs.10/- each of the Company. Accordingly, the Allotment Committee of the Board of Directors in its meeting held on 22nd March, 2021 have allotted 75,00,000 Nos. equity shares at a price of Rs.44.10 to the said warrant holder. Consequent upon the aforesaid conversion, the paid up share capital of the Company has increased from Rs. 1,71,58,18,390/- to Rs. 1,79,08,18,390/-.

Shares of PRAKASH INDUSTRIES LTD. was last trading in BSE at Rs.64.05 as compared to the previous close of Rs. 66.5. The total number of shares traded during the day was 194960 in over 1206 trades.

The stock hit an intraday high of Rs. 68.2 and intraday low of 63.15. The net turnover during the day was Rs. 12835894.

Source : Equity Bulls

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