Zen Technologies Limited board approves preferential issue of CCDs, warrants

The Board of Directors of Zen Technologies Limited at its meeting held on 16th October 2021, subject to the approval of shareholders, considered and approved the Preferential Issue of up to 42,25,367 10% Compulsorily Convertible Debentures ("CCDs") having face value of Rs. 213/- each, for cash, for an aggregate amount of up to Rs. 90,00,03,171/-, which shall be converted into 42,25,367 Equity Shares of the face value of Rs. 1/- each at a premium of Rs. 212/- each, to the persons belonging to "Public Category".

The board also approved the proposal for issue of 4,69,633 Convertible Warrants, convertible into each warrant into one equity share of Rs. 1/- each at a premium of Rs. 212/- upon exercising the Warrant, so as to raise up to Rs. 10,00,31,829/- on a preferential basis to the following Promoters:

Ashok Atluri - 2,34,883
Kishore Dutt Atluri - 2,34,750

Shares of Zen Technologies Limited was last trading in BSE at Rs. 226.35 as compared to the previous close of Rs. 215.60. The total number of shares traded during the day was 444784 in over 4922 trades.

The stock hit an intraday high of Rs. 226.35 and intraday low of 218.45. The net turnover during the day was Rs. 100091153.00.

Source : Equity Bulls

Keywords

ZenTechnologies INE251B01027 ZENTEC Defence PreferentialAllotment CCDs Warrants