Himatsingka Seide Ltd approves fund raising through equity, NCDs

The Board of directors of Himatsingka Seide Limited at its meeting held today i.e. December 15,2022, has approved issuance of equity shares, foreign currency convertible bonds or other similar security denominated in foreign currency(ies), warrants, American depository receipts, global depository receipts, any other financial instruments convertible into equity shares, or a combination thereof ("Securities"), in one or more tranches and/or one or more issuances simultaneously or otherwise, aggregating up to US $ 13 Million or equivalent to Rs. 108 Crore , by way of one or more public and/or private offerings, and/or on preferential allotment basis, to any eligible person, or otherwise, foreign/resident investors (whether institutions, incorporated bodies, mutual funds, individuals or otherwise), venture capital funds (foreign or Indian), alternate investment funds, foreign institutional investors, foreign portfolio investors, qualified foreign investors, Indian and/or multilateral financial institutions, mutual funds, insurance companies, non-resident Indians, stabilizing agents, pension funds, banks or any financial institutions and/or any other categories of investors, whether they be holders of equity shares of the Company or not (collectively called the "Investors")

The board also approved issuance of Non-Convertible Debentures not exceeding INR 500 crores, to identified Investors.

The Board has authorized Securities Allotment Committee of Directors to determine the terms and conditions of issue of Non-Convertible Debentures and the Securities as above and to open the issue of said Securities.

The Board has also approved the Postal Ballot Notice to seek authorizations of members for the issuance of securities and the Company shall make requisite disclosures as and when the Postal Ballot Notice is issued to the members.

Shares of Himatsingka Seide Limited was last trading in BSE at Rs. 90.00 as compared to the previous close of Rs. 90.20. The total number of shares traded during the day was 44164 in over 1696 trades.

The stock hit an intraday high of Rs. 91.75 and intraday low of 89.80. The net turnover during the day was Rs. 3994924.00.

Source : Equity Bulls

Keywords

HimatsingkaSeide INE049A01027 FundRaising NCDs EquityShares