Tilaknagar Industries Ltd allots 1,05,26,315 shares

The Board of Directors of Tilaknagar Industries Ltd, through circular resolution passed on Friday, December 16, 2022, has considered and approved the allotment of 1,05,26,315 (One Crore Five Lakhs Twenty-six Thousand Three Hundred and Fifteen) Equity Shares of face value Rs. 10/- each ("Equity Shares") for cash at a price of Rs. 95/- (Rupees Ninety-five) per equity share (including a premium of Rs. 85/-(Rupees Eighty Five) per equity share) for an amount aggregating to Rs. 99,99,99,925/-(Rupees Ninety-nine Crores Ninety-nine Lakhs Ninety-nine Thousand Nine Hundred and Twenty-five only) to Think India Opportunities Master Fund LP, a non-promoter entity and a QIB (Foreign Portfolio Investor) on a preferential basis and upon receipt of full subscription amount.

These equity shares shall rank pari-passu in all respects, including dividend, with existing equity shares of the Company. The Company has received the letters of in-principle approvals from the National Stock Exchange of India Limited and from BSE Limited dated November 30, 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.

Consequent upon the above allotment of equity shares, the paid-up equity share capital of the Company stands increased from 17,13,07,828 equity shares (Rs. 171,30,78,280) to 18,18,34,143 equity shares (Rs. 181,83,41,430).

Shares of Tilaknagar Industries Limited was last trading in BSE at Rs. 99.25 as compared to the previous close of Rs. 100.95. The total number of shares traded during the day was 10611 in over 396 trades.

The stock hit an intraday high of Rs. 102.00 and intraday low of 98.55. The net turnover during the day was Rs. 1058079.00.

Source : Equity Bulls

Keywords

TilaknagarIndustries INE133E01013 Shares Allotment ThinkIndiaOpportunitiesMasterFundLP QIB FPI