Tarmat Ltd board approves preferential issue at Rs. 65

The Board of Directors of Tarmat Ltd at its meeting held on Saturday 21st August 2021 at 4.30 PM at the Corporate office of the Company have approved the issue of 7983548 convertible warrants into 7983548 equity shares in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations 2018 through preferential basis to promoter & non-promoter group at a price of Rs 65 each or such price as calculated as per the SEBI (ICDR) Regulations 2018.

The promoters will subscribe 1766151 convertible warrants out of the earlier Loan and advances they gave to the company and out of the Loan and advances of Rs. 44,07,10,000/- as on 31st March 2021. The Board also approved the conversion of Loan of the promoter group into future subscription of equity shares.

The non-promoter group will subscribe 6217397 convertible warrants.

Shares of Tarmat Limited was last trading in BSE at Rs. 69.9 as compared to the previous close of Rs. 69.85. The total number of shares traded during the day was 4409 in over 150 trades.

The stock hit an intraday high of Rs. 70.7 and intraday low of 67.4. The net turnover during the day was Rs. 303122.

Source : Equity Bulls

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