Bajaj Hindusthan Sugar Limited approves issue of 14,38,00,000 shares at Rs. 13.28 per share

The Board of Directors of Bajaj Hindusthan Sugar Limited at its meeting held today, i.e. Thursday, June 17, 2021, commenced at 11.30 A.M. and concluded at 12.20 P.M, has approved issuance of 14,38,00,000 (Fourteen Crore Thirty Eight Lakh) equity shares of face value of ₹1 (Rupee One) each fully paid up, on a preferential basis, at a price of ₹ 13.28 (Rupees Thirteen and Twenty Eight paise) per equity share on preferential basis, by way of conversion of existing outstanding unsecured loans extended by Mr. Kushagra Bajaj and SKB Roop Commercials LLP, promoter/promoter group entities of the Company as a part of the promoters contribution to the restructuring package approved by the "Joint Lenders Forum", in accordance with Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI ICDR Regulations"), as amended, and other applicable laws (Preferential Issue).

Shares of Bajaj Hindusthan Sugar Limited was last trading in BSE at Rs.15.18 as compared to the previous close of Rs. 15.86. The total number of shares traded during the day was 7055147 in over 8873 trades.

The stock hit an intraday high of Rs. 15.8 and intraday low of 15.07. The net turnover during the day was Rs. 107092582.

Source : Equity Bulls

Keywords