Jai Balaji Industries Ltd allots 2.2 crore warrants to promoter group

The Board of Directors of Jai Balaji Industries Ltd at its meeting held on Friday, 20th January, 2023 which commenced at 10:00 a.m. and concluded at 11:00 a.m., have, amongst the other items of Agenda, considered, approved and taken on record the allotment of 2,20,00,000 (two crore twenty lacs) warrants ("warrants") of the Company at a price of Rs. 45/- (Rupees forty-five only) per warrant with a right to the warrant holders to apply for and be allotted 1 (One) Equity Share of the face value of Rs. 10/- (Rupees Ten only) each of the Company ("Equity Shares") at a premium of Rs.35/- per equity share for each warrant, for an amount upto Rs.99,00,00,000/- (Rupees Ninety nine crore only) within a period of 18 (Eighteen) months from the date of allotment of the warrant, to Hariaksh Industries Private Limited, Shri Mahatejas Vinimay Private Limited and Shri Keshrinandan Trade Private Limited, forming part of Promoter group, on preferential basis ("Preferential Issue") on receipt of an amount equivalent to 25% of the total consideration from the allottees.

Shares of Jai Balaji Industries Limited was last trading in BSE at Rs. 54.15 as compared to the previous close of Rs. 54.90. The total number of shares traded during the day was 34505 in over 512 trades.

The stock hit an intraday high of Rs. 55.45 and intraday low of 54.05. The net turnover during the day was Rs. 1890812.00.

Source : Equity Bulls

Keywords

JaiBalajiIndustries INE091G01018 PreferentialIssue ConvertibleWarrants PromoterGroup