Modi Naturals Ltd to issue 6.50 lakh warrants

The Board of Directors of Modi Naturals Ltd at its meeting held today, April 07, 2022 has considered a proposal for raising of funds approximating to INR 13.46 crores by preferential issue of warrants to Promoters and persons belonging to promoter category.

The Board, considered and approved issue of up to 6,50,000 (Six lakhs fifty thousand) warrants, carrying an entitlement for the allottee to subscribe to an equal number of fully paid up equity shares at the exercise price of INR 207 (including a premium of INR 197) ("Issue Price"), to Akshay Modi (4,40,000 warrants), Anil Modi (1,30,000 warrants), Aditi Modi (42,000 warrants) and Neha Agarwal (38,000 warrants) on a preferential basis ("Preferential Issue").

Shares of Modi Naturals Limited was last trading in BSE at Rs. 243.15 as compared to the previous close of Rs. 231.60. The total number of shares traded during the day was 68034 in over 523 trades.

The stock hit an intraday high of Rs. 243.15 and intraday low of 225.60. The net turnover during the day was Rs. 16140650.00.

Source : Equity Bulls

Keywords

ModiNaturals INE537F01012 ConvertibleWarrants PreferentialIssue PromoterGroup FundRaising