Share India Securities Ltd approves allotment of rights shares, warrants

The Rights Issue Committee of the Board of Directors of Share India Securities Limited ("the Company") in its meeting held today i.e. March 24, 2023, has, considered and approved the allotment of 6,38,131 fully paid-up Rights Equity Shares of Face Value of Rs. 10/- each at an issue price of Rs. 700/- per Equity Share [including a premium of Rs. 690/- per Equity Share] along with 1,08,48,227 Detachable Warrants (together with the Rights Equity Shares, the "Rights Securities") for Cash at a price of Rs. 700/- per warrant of which Rs. 175/- per Warrant has been paid-up on application. The balance amount of Rs. 525/- per Warrant shall be payable at the time of exercise of the Detachable Warrants.

The Rights Securities has been allotted in the ratio of 1 Rights Equity Shares for every 50 fully paid-up Equity Shares held on the Record Date along with 17 Detachable Warrants for every Rights Equity Share allotted. The said allotment is made pursuant to the terms set out in the Letter of Offer dated February 28, 2023 and the 'Basis of Allotment' as finalised in consultation with the Corporate Professionals Capital Private Limited ("Lead Manager"), Bigshare Services Private Limited ("Registrar to the Issue") and as approved by National Stock Exchange of India Limited ("the Designated Stock Exchange for the Issue").

Shares of Share India Securities Limited was last trading in BSE at Rs. 1082.55 as compared to the previous close of Rs. 1073.50. The total number of shares traded during the day was 3499 in over 276 trades.

The stock hit an intraday high of Rs. 1088.00 and intraday low of 1059.70. The net turnover during the day was Rs. 3769277.00.

Source : Equity Bulls

Keywords

ShareIndiaSecurities INE932X01018 Rights EquityShares ConvertibleWarrants FundRaising