Centerac Technologies Ltd approves fund raising through OCDs

The Board of Directors of Centerac Technologies Ltd in its meeting held today i.e. 16th February, 2022, has approved the raising of funds through issue of 5,00,000 (Five Lakhs) 5% Optionally Convertible Debentures (OCD's) of 10/- each, aggregating to ₹50,00,000/- (Rupees Fifty Lakhs only)to be converted at the option of debenture holder in the 18th month from the date of allotment into fully paid up Equity shares of face value ₹1/- each at a price which would be the higher of ₹10/-(including premium of ₹9/-) per equity share or price to be determined at the time of conversion in accordance with the pricing Regulation mentioned under Chapter V of SEBI ICDR Regulations subject to Shareholders' approval and regulatory / statutory approvals as required.

The said debentures would be redeemed after 2 years from the date of allotment in case the option of conversion is not exercised in the 18th month by the holder.

Source : Equity Bulls

Keywords

CenteracTechnologies OCDs FundRaising