Autoline Industries Ltd allots 10 lakh shares on conversion of warrants

Autoline Industries Ltd had issued and allotted 1000000 warrants on preferential basis to the Promoters pursuant to the shareholders' approval obtained on April 21, 2021. The warrants were allotted in the month of June 2021 at a price of Rs. 45/- each ("warrant price") upon receipt of 25% upfront amount. The outstanding amount on warrants had to be paid in full on or before Twelve months from the date of allotment of warrants.

The Promoters have paid the balance 75% of warrant price on May 31, 2022 and exercised their right for conversion of 1000000 warrants into equal number of equity shares of face value of Rs.10/- each fully paid-up of the Company. Hence, the Board of Directors of the Company has allotted 1000000 equity shares of the face value of Rs.10/- each fully paid by passing the resolution by circulation. The paid-up share capital of the Company stands increased from Rs. 379631640 to Rs. 389631640 comprising of 38963164 equity shares of Rs.10/- each.

Shares of Autoline Industries Limited was last trading in BSE at Rs. 65.20 as compared to the previous close of Rs. 64.65. The total number of shares traded during the day was 37728 in over 230 trades.

The stock hit an intraday high of Rs. 67.85 and intraday low of 63.10. The net turnover during the day was Rs. 2504856.00.

Source : Equity Bulls

Keywords

AutolineIndustries INE718H01014 SharesAllotment WarrantsConversion