The Sukhjit Starch and Chemicals Ltd board approves warrants issue at Rs. 300

The Board of Directors of The Sukhjit Starch and Chemicals Ltd, at its meeting held today, i.e. on Sunday, September 19, 2021 at the registered office of the Company situated at Sarai Road Phagwara, Distt. Kapurthala, Punjab 144401 has discussed, deliberated, taken on record and approved the issuance of 8,15,000 Equity Warrants convertible into Equity shares of face value Rs. 10/- per share to Promoters & Promoter Group of the Company on a preferential basis ("Preferential Issue") in accordance with Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI lCDR Regulations"), as amended, and other applicable laws, at a price of Rs. 300/- per Equity Warrant, subject to the approval of regulatory/ statutory authorities and the shareholders of the Company at the forthcoming Extra Ordinary General Meeting.

The board approved issue of 85,360 Equity Warrants convertible into Equity shares of face value Rs. 10/- per share to the Non-promoters / Public Category of the company, on a preferential basis ("Preferential Issue") 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, at a price of Rs. 300/- per Equity Share, subject to the approval of regulatory / statutory authorities and the shareholders of the Company at the forthcoming Extra Ordinary General Meeting.

The board also approved increase of the Authorized Share Capital of the Company from the existing Rs. 15,00,00,000/- (Rs. Fifteen Crores only) divided into 1,50,00,000 (One Crore Fifty Lacs) Equity Shares of Rs. 10/- (Rs.Ten) each to Rs. 20,00,00,000/- (Rs. Twenty crores only) divided into 2,00,00,000/- (Two Crore) Equity Shares of Rs. 10/- (Rs.Ten) each and alter the capital clause of the Memorandum of Association of the Company accordingly, both subject to the approval of the shareholders of the Company at the forthcoming Extra Ordinary General Meeting.

Shares of Sukhjit Starch & Chemicals Ltd. was last trading in BSE at Rs. 298.6 as compared to the previous close of Rs. 304.1. The total number of shares traded during the day was 31565 in over 281 trades.

The stock hit an intraday high of Rs. 304.95 and intraday low of 292.15. The net turnover during the day was Rs. 9346299.

Source : Equity Bulls

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