LKP Securities Ltd approves preferential issue of convertible warrants

The Board of Directors of LKP Securities Ltd in its meeting held today i.e May 20, 2022 has approved the proposal for raising of funds through preferential issue of 59,88,023 (Fifty Nine Lakhs Eighty Eight Thousand Twenty Three) convertible Warrants ("Warrants") at an issue price of ₹16.70/- (Rupees Sixteen and Seventy Paise only) per warrant aggregating up to ₹10,00,00,000/- (Rupees Ten Crores only) subject to Shareholders approval and regulatory/statutory approvals as required. Each warrant will be convertible into one equity share of face value of ₹2/-(Rupees Two only) each at an issue price of ₹16.70/- [inclusive of a premium of ₹14.70 (Rupees Fourteen and Seventy Paise only)] at the option of the warrant holder within a period of 18 (eighteen) months from the date of allotment.

Shares of LKP Securities Ltd was last trading in BSE at Rs. 14.95 as compared to the previous close of Rs. 14.95. The total number of shares traded during the day was 12449 in over 109 trades.

The stock hit an intraday high of Rs. 15.95 and intraday low of 14.90. The net turnover during the day was Rs. 188274.00.

Source : Equity Bulls

Keywords

LKPSecurities INE341H01023 PreferentialIssue ConvertibleWarrants FundRaising