Repro India Ltd allots shares, warrants on preferential basis

The Investment Committee of the Board of Directors of Repro India Ltd, at their meeting held today has approved the allotment of Equity Shares and Convertible Warrants on preferential basis to the allottees.

The board approved the allotment of 624,996 (Six Lakhs Twenty Four Thousand Nine Hundred and Ninety Six) Equity Shares of Rs. 10/- each at a price of Rs. 480/- per share (inclusive of premium of Rs. 470/- per share) aggregating to Rs. 299,998,080/- (Rupees Twenty Nine Crores Ninety Nine Lakhs Ninety Eight Thousand and Eighty Only) on preferential basis to the allottees, on receipt of subscription money amounting to Rs. 299,998,080/-

Consequent to the said allotment of Equity Shares, the paid up equity share capital of the Company stands increased from Rs. 120,889,430/- (Rupees Twelve Crores Eight Lakhs Eighty Nine Thousand Four Hundred and Thirty) representing 12,088,943 (One Crore Twenty Lakhs Eighty Eight Thousand Nine Hundred and Forty Three) Equity Shares of Rs. 10/- each to Rs. 127,139,390/- (Rupees Twelve Crores Seventy One Lakhs Thirty Nine Thousands Three Hundred and Ninety) representing 12,713,939 (One Crore Twenty Seven Lakhs Thirteen Thousand Nine Hundred and Thirty Nine) Equity Shares of Rs. 10/- each.

The board also approved the allotment of 624,996 (Six Lakhs Twenty Four Thousand Nine Hundred and Ninety Six) Warrants convertible into Equity Shares of Rs. 10/- each at a price of Rs. 480/- per share (inclusive of premium of Rs. 470/- per share) aggregating to Rs. 299,998,080/- (Rupees Twenty Nine Crores Ninety Nine Lakhs Ninety Eight Thousand and Eighty Only) from whom the Company has received 25% upfront share application money i.e. Rs. 74,999,520 (Rupees Seven Crores Forty Nine Lakhs Ninety Nine Thousand and Five Hundred and Twenty only) on preferential basis to the allottees.

The Warrant holders shall, subject to the SEBI ICDR Regulations and other applicable rules, regulations and laws, be entitled to exercise the Warrants in one or more tranches within a period of 18 (Eighteen) months from the date of allotment of the Warrants by issuing a written notice to the Company specifying the number of Warrants proposed to be exercised. The Company shall accordingly issue and allot the corresponding number of Equity Shares of face value of Rs. 10/- each to the Warrant holders and the Company will announce as and when Warrants are converted to Equity Shares or if the Warrants lapse.

Shares of Repro India Limited was last trading in BSE at Rs. 560.05 as compared to the previous close of Rs. 560.05. The total number of shares traded during the day was 4493 in over 124 trades.

The stock hit an intraday high of Rs. 567.70 and intraday low of 551.80. The net turnover during the day was Rs. 2524280.00.

Source : Equity Bulls

Keywords

ReproIndia PreferentialIssue INE461B01014 Shares Warrants