Galaxy Cloud Kitchens Limited board approves preferential issue

The Board of Directors of Galaxy Cloud Kitchens Limited at their Meeting today viz. March 30, 2021, has approved/noted the increase of Authorized Share Capital of the Company from existing Rs. 50,00,00,000/- to Rs. 65,00,00,000/- divided into 6,50,00,000 equity shares of Rs. 10/- each subject to the approval of members of the Company.

The board approved issue and allotment of in aggregate and upto 1,11,11,111 Equity Shares on Preferential Basis, aggregating to Rs. 19,99,99,998/- (Rupees Nineteen Crore Ninety Nine Lakh Ninety Nine Thousand Nine Hundred Ninety Eight only) subject to the approval of members of the Company.

The Board has approved the aforesaid preferential allotment subject to receipt of approval of shareholders.

An Extraordinary General Meeting of the Members of the Company will be held on April 29, 2021 through Video Conferencing/Other Audio Visual Means, pursuant to the relevant circulars issued by Ministry of Corporate Affairs and SEBI in this regard for seeking their approval for the above issue of securities. Accordingly, the Relevant Date for the pricing of above issue of securities is March 30, 2021.

Shares of Galaxy Cloud Kitchens Limited (formerly GALAXY ENTERTAINMENT CORPORATION LTD.) was last trading in BSE at Rs.10.99 as compared to the previous close of Rs. 11.29. The total number of shares traded during the day was 3574 in over 14 trades.

The stock hit an intraday high of Rs. 11.18 and intraday low of 10.18. The net turnover during the day was Rs. 38763.

Source : Equity Bulls

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