Coastal Corporation Limited allots 510000 shares on conversion of warrants

The warrant holders (i.e., Mr.T. Valsaraj & Ms.Chandana Kambhampati) of the Preferential Issue made pursuant to the Special Resolution passed at the Extra Ordinary General Meeting held on 11th February, 2021 have exercised their option for conversion of 510000 warrants into equivalent equity shares of Rs.10/- each of Coastal Corporation Limited.

Accordingly, the Board of Directors of the Company allotted 510000 equity shares of Rs. 10/- each at a premium of Rs. 177/- per share to the following warrant holders:

Mr. T. Valsaraj - 500000 shares
Ms. Chandana Kambhampati - 10000 shares

Consequently, w.e.f. from 31% March, 2021, the issued, subscribed and paid - up equity share capital of the Company stands increased to Rs.10,67,88,000/- consisting of 1,06,78,800 Equity Shares of Rs. 10/- each. The aforementioned shares rank pari passu with the existing Equity Shares of the Company.

Shares of COASTAL CORPORATION LTD. was last trading in BSE at Rs.170.25 as compared to the previous close of Rs. 168.1. The total number of shares traded during the day was 7681 in over 97 trades.

The stock hit an intraday high of Rs. 174.8 and intraday low of 168.15. The net turnover during the day was Rs. 1305087.

Source : Equity Bulls

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