Tilaknagar Industries Ltd board approves preferential issue of shares, warrants

The board of directors of Tilaknagar Industries Ltd has approved the issuance of 65,97,221 (Sixty-five Lakhs Ninety-seven Thousand Two Hundred and Twenty-one) Equity Shares of face value Rs. 10/- each ("Equity Shares") for cash at a price of Rs. 72/- per equity share (including a premium of Rs. 62/- per equity share) for an amount aggregating to Rs. 47,49,99,912/- (Rupees Forty-seven crores Forty-nine Lakhs Ninety-nine Thousand Nine Hundred and Twelve only) to Mr. Kancharla Chandra Sheker Reddy, S.S Spirits LLP and M&S Bottling Company Private Limited, non-promoters, on a preferential basis ("Preferential Issue").

The board also approved issuance of 52,08,333 (Fifty-two Lakhs Eight Thousand Three Hundred and Thirty- Three) Convertible Warrants ("Warrants") for cash at a price of Rs. 72/- per warrant for an amount aggregating to Rs. 37,49,99,976/-(Rupees Thirty seven crores Forty-nine Lakhs Ninety-nine Thousand Nine Hundred and Seventy-six only) to Mr. Amireddy Jaipal Reddy and S.S Spirits LLP, Non-Promoters, on a preferential basis ("Preferential Issue").

Shares of Tilaknagar Industries Limited was last trading in BSE at Rs. 70.20 as compared to the previous close of Rs. 71.55. The total number of shares traded during the day was 49141 in over 1070 trades.

The stock hit an intraday high of Rs. 72.00 and intraday low of 69.10. The net turnover during the day was Rs. 3485118.00.

Source : Equity Bulls

Keywords

TilaknagarIndustries INE133E01013 TI PreferentialIssue EquityShares ConvertibleWarrants