Stock Report

H P Cotton Textile Mills Ltd allots 1.12 lakh warrants

Posted On : 2023-03-12 11:20:01( TIMEZONE : IST )

H.P. Cotton Textile Mills Limited has announced the allotment of 1,12,000 warrants, each convertible into or exchangeable for one fully paid up equity share of Rs. 10 each of the Company, at an issue price of Rs. 180/- on preferential basis to allottees (warrant holders).

The warrant holders had paid 25% (Rs. 45/- per warrant) of the issue price of the warrant as the warrant subscription price. The balance 75% (Rs.135/- per warrant) of the issue price of warrants was to be paid at the time of exercise of option to apply for fully paid - up Equity shares of Re. 10/- each of the Company, against each such warrants held by the warrant holder.

In view of above and upon receipt from Mr. Kailash Kumar Agarwal and Mr. Raghavkumar Agarwal ("the warrant holder"), a written notice and balance 75% (at the rate of Rs. 135/- per warrant) for the outstanding 33,600 and 22,400 warrants so held respectively, the Preferential Issue Committee of the Board of Directors of the Company vide Circular Resolution passed today i.e. March 11, 2023 has allotted 56,000 equity shares of Rs. 10/- each, upon conversion / exchange of equal number of warrants, as per the details given below:

Kailash Kumar Agarwal - 33,600 - 45,36,000
Raghavkumar Agarwal - 22,400 - 30,24,000

Consequently, w.e.f. from March 11, 2023, the Issued, Subscribed and Paid-up Equity Share Capital of the Company stands increased to Rs. 3,92,20,000 (Rupees Three Crores Ninety Two Lakhs Twenty Thousand Only) consisting of 39,22,000 (Thirty Nine Lakhs Twenty Two Thousand Only) Equity Shares of Rs. 10/- each. The aforementioned Equity Shares rank pari passu with the existing Equity Shares of the Company.

Shares of H.P.COTTON TEXTILE MILLS LTD. was last trading in BSE at Rs. 91.65 as compared to the previous close of Rs. 88.75. The total number of shares traded during the day was 3818 in over 44 trades.

The stock hit an intraday high of Rs. 91.99 and intraday low of 87.00. The net turnover during the day was Rs. 342505.00.