Agarwal Industrial Corporation Ltd approves allotment of 5 lakh shares

The Board of Directors of Agarwal Industrial Corporation Ltd at its meeting held today i.e. October 06, 2022, has considered and approved allotment of 5,00,000 Equity Shares of face value of Rs. 10/- each to the Promoters' Group , upon exercise of conversion of 5,00,000 convertible warrants into equal number of Equity Shares at a price of Rs. 105.20/- per share (including premium of Rs.95.20 /- per equity share) on receipt of Rs. 78.90 per warrant - being 75% of the balance warrant issue price of Rs 105.20 per warrant.

Consequent to the allotment of said Equity Shares, the total subscribed and paid up capital of the company has increased from 1,44,57,789 equity shares of Rs. 10 each to 1,49,57,789 equity shares of Rs. 10 each aggregating to Rs. 14,95,77,890. The equity shares allotted as aforesaid shall rank pari passu with the existing equity shares of the company in all respects, including with respect to dividend and voting powers.

Source : Equity Bulls

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AgarwalIndustrialCorporation SharesAllotment PromotersGroup