SG Finserve Ltd allots 1,25,24,000 Equity Shares, 73,71,000 warrants

The Allotment Committee of the Board of Directors of SG Finserve Limited (formerly known as Moongipa Securities Limited), at its meeting held today i.e., December 10, 2022, has, considered and approved the allotment of 1,25,24,000 Equity Shares to persons belonging to non-promoter category, for cash, of Face Value of ₹10/- each, at an issue price of ₹200/- per Equity Share on preferential basis.

The board approved the allotment of 73,71,000 Fully Convertible Warrants ('Warrants') to persons belonging to non-promoter category each carrying a right to subscribe to one equity share per Warrant, for cash of Face Value of ₹10/- each, at an issue price of ₹200/- per Warrant on preferential basis upon receipt of 25% of issue price.

The above warrants entitle the allottee to apply for and be allotted equal number of equity shares for each warrant held by them on payment of balance 75% of the issue price within 18 months from the date of issue of these warrants.

Consequent to the said allotment, the Paid-up Equity Share Capital of the Company stands increased to ₹41,27,30,000 comprising 4,12,73,000 Equity Shares of face value of ₹10/- each and paid-up equity Share capital on fully diluted basis shall be ₹55,89,50,000/- comprising of 5,58,95,000 Equity Shares of Face Value of ₹10/- each.

Source : Equity Bulls

Keywords

SGFinserve FundRaising EquityShares ConvertibleWarrants NonPromoters