Som Distilleries and Breweries Ltd approves preferential issue of warrants at Rs. 72

The Board of directors of Som Distilleries and Breweries Ltd has considered and approved raising of funds through Issue of Convertible Equity Warrants to the Promoters, Promoter's Group and Other Public Investors on Preferential Basis by issuing up to 40,00,000 (Forty Lakhs) Warrants convertible in one or more tranches to equity shares of ₹5/- each of the Company at a price of ₹72/- (including premium of Rs.67/-) for each Warrant subject to necessary shareholders/ regulatory approvals, as applicable.

Promoters / Promoter group

Mr. Jagdish Kumar Arora - up to 2000000
Mr. Deepak Arora - up to 500000

Non - Promoter Investor

Lakeside Retail Private Limited - up to 500000
Icy Blast Retails Private Limited - up to 500000
Newport Retail LLP - up to 500000

The Board also considered and approved increase in the Authorised Share Capital of the Company from ₹40,00,00,000/- (Rupees Forty Crore Only) divided into 8,00,00,000 (Eight Crore) Equity Shares of ₹5/- each (Rupees Five only) to ₹50,00,00,000/- (Rupees Fifty Crore Only) divided into 10,00,00,000 (Ten Crore) Equity Shares of ₹5/- each (Rupees Five only) and consequent alteration in Clause V of Memorandum of Association of the company as per the provisions of the Companies Act, 2013 and applicable SEBI Regulations subject to approval of the shareholders in the general meeting.

Shares of Som Distilleries & Breweries Limited was last trading in BSE at Rs. 74.10 as compared to the previous close of Rs. 72.05. The total number of shares traded during the day was 48676 in over 1393 trades.

The stock hit an intraday high of Rs. 75.65 and intraday low of 72.25. The net turnover during the day was Rs. 3619705.00.

Source : Equity Bulls

Keywords

SomDistilleriesandBreweries INE480C01020 SDBL PreferentialIssue ConvertibleWarrants