Titan Intech Ltd board approves preferential issue, borrowings

The Board of Directors of M/s Titan Intech Ltd approved the proposal to raise Long term fund by issue of 15,00,000 (Fifteen lakhs) preferential Equity share warrants to promoters and 85,00,000 (Eighty five lakhs) Preferential Equity share warrants to non-promoters on preferential basis @ Rs.26, having face value of Rs.10 (Rupees ten) and premium of Rs.16 (Rupees sixteen only) in accordance with Chapter V of SEBI (ICDR) Regulations, 2018 subject to the approval of shareholders.

The board also approved proposal to borrow, up to Rs.100 crores (hundred crores) that is exceeding the aggregate of paid-up share capital, free reserves and securities premium as prescribed under section 180(1)(C) of companies act 2013.

Shares of Titan Intech Limited was last trading in BSE at Rs. 19.90 as compared to the previous close of Rs. 18.20. The total number of shares traded during the day was 54606 in over 291 trades.

The stock hit an intraday high of Rs. 20.00 and intraday low of 17.50. The net turnover during the day was Rs. 1047218.00.

Source : Equity Bulls

Keywords

TitanIntech INE807M01023 TextileProducts PreferentialIssue ConvertibleWarrants Promoters NonPromoters