Walchandnagar Industries Ltd allots 78,10,000 shares

The Board of Directors of Walchandnagar Industries Ltd at its meeting held on October 21, 2022 has approved the allotment of 78,10,000 (Seventy eight lakh ten thousand) equity shares of face value INR 2 (Rupee two) each fully paid-up by way of preferential allotment (Allotment) for cash consideration, to Promoters / Promoters Group Entities, namely Mr. Chakor L. Doshi, Mr. Chirag C. Doshi, Mrs. Champa C. Doshi and Walchand Great Achievers Pvt. Ltd., and to a Non-Promoter, namely Asset Care & Reconstruction Enterprise Limited (acting in its capacity as trustee of ACRE 120-Trust), at a price of INR 60 (Rupees Sixty) per Equity Share (including premium of INR 58 (Rupees Fifty Eight) each) aggregating to INR 46,86,00,000/- (Rupees Forty six crore eighty six lakhs only).

Consequent to the Allotment, the subscribed and paid-up equity share capital of the Company stands increased from 3,80,70,205 to 4,58,80,205 (Four crore fifty eight lakhs eighty thousand two hundred and five) equity shares of face value of INR 2/- each.

These shares shall rank pari-passu in all respects with existing Equity Shares of the Company. The Company has received the in-principle approvals from the National Stock Exchange of India Limited and BSE Limited on October 14, 2022. The application for listing and trading approval of the Stock Exchanges for the equity shares allotted as above shall be made in due course.

Shares of Walchandnagar Industries Limited was last trading in BSE at Rs. 54.65 as compared to the previous close of Rs. 55.70. The total number of shares traded during the day was 20510 in over 136 trades.

The stock hit an intraday high of Rs. 57.90 and intraday low of 54.55. The net turnover during the day was Rs. 1154566.00.

Source : Equity Bulls

Keywords

WalchandnagarIndustries INE711A01022 SharesIssue FundRaising PreferentialAllotment