Orient Tradelink Ltd allots 6 lakh shares on conversion of warrants

The Board of directors of Orient Tradelink Limited has considered and approved the allotment of 6,00,000 equity shares of INR 10/- each at a price of INR 11/- per share comprising of premium of INR 1/- each per share, upon exercise of option for conversion of equity warrants into equal number of Equity Shares against receipt of balance subscription amount of 75% (INR 8.25/- Per Warrant) of warrant issue price. The allottees are:

Ramudagar Kamat (Non - Promoter) - 1,00,000 shares
Mahesh Kumar Verma (Non - Promoter) - 3,00,000 shares
Jasvinder Singh (Non - Promoter) - 2,00,000 shares.

Post Allotment of above equity shares, the paid-up equity share capital of the company stand increased from INR 11,16,50,000 (Indian Rupees Eleven Crores Sixteen Lakhs Fifty Thousand Only) divided into 1,11,65,000 (One Crore Eleven Lakhs Sixty Five Thousand) equity shares of INR 10/- each to INR 11,76,50,000 (Indian Rupees Eleven Crores Seventy Six Lakhs Fifty Thousand Only) divided into 1,17,65,000 (One Crores Seventeen Lakhs Sixty Five Thousand) equity shares of INR 10/- each.

Shares of ORIENT TRADELINK LTD. was last trading in BSE at Rs. 13.16 as compared to the previous close of Rs. 12.49. The total number of shares traded during the day was 14624 in over 59 trades.

The stock hit an intraday high of Rs. 13.45 and intraday low of 12.03. The net turnover during the day was Rs. 187963.00.

Source : Equity Bulls

Keywords

ORIENTTRADELINK INE681D01039 SharesAllotment WarrantsConversion