Shankara Building Products allots 14 lakh convertible warrants

The Board of Directors of Shankara Building Products Limited ("Company") at its meeting held today i.e., May 7, 2022 have allotted the 14,00,000 Warrants convertible into equal number of Equity Shares of Rs. 10/- each of the Company to APL Apollo Mart Limited (wholly owned subsidiary of Apl Apollo Tubes Limited] on preferential basis upon receipt of 25% of issue price from the allottee.

The above warrants entitle the allottee to apply for and be allotted equal number of equity shares for each warrant held by them on payment of balance 75% of the issue price within 18 months from the date of issue of these warrants.

Shares of Shankara Building Products Limited was last trading in BSE at Rs. 722.65 as compared to the previous close of Rs. 746.50. The total number of shares traded during the day was 4672 in over 638 trades.

The stock hit an intraday high of Rs. 737.90 and intraday low of 718.30. The net turnover during the day was Rs. 3407261.00.

Source : Equity Bulls

Keywords

ShankaraBuildingProducts INE274V01019 FundRaising ConvertibleWarrants APLApolloMart PreferentialIssue