Wanbury approves preferential allotment to promoter group at Rs. 105

The Board of Directors of Wanbury Limited at its meeting held today i.e. 17th February, 2022 has, considered and approved the issuance of upto 54,50,000 (Fifty Four Lakhs Fifty Thousand) convertible warrants ("Warrants") at a price of Rs. 105/- per Warrant with a right to the warrant holders to apply for and be allotted 1 (One) Equity Share of the face value of Rs. 10/- (Rupees Ten Only) each of the Company ("Equity Shares") at a premium of Rs. 95/- per share for each Warrant within a period of 18 (Eighteen) months from the date of allotment of the Warrants, for an amount upto to Rs. 57,22,50,000/- (Rupees Fifty Seven Crore Twenty Two Lakh Fifty Thousand only) to "Expert Chemicals (India) Private Limited", Promoter, on a preferential basis ("Preferential Issue"), subject to the approval of the Members of the Company and such regulatory / statutory authorities as may be applicable.

Shares of Wanbury Limited was last trading in BSE at Rs. 99.20 as compared to the previous close of Rs. 95.00. The total number of shares traded during the day was 3954 in over 52 trades.

The stock hit an intraday high of Rs. 99.70 and intraday low of 92.00. The net turnover during the day was Rs. 389303.00.

Source : Equity Bulls

Keywords

Wanbury INE107F01022 Promoters WarrantsIssue FundRaising