Alphalogic Techsys Ltd increases stake in subsidiary

Alphalogic Industries Limited, subsidiary of Alphalogic Techsys Limited had made a right issue offer of 1,96,078 equity shares of Rs. 10/- each to its existing shareholders in proportion to their existing shareholdings at a premium of Rs. 105/- (Rupees One Hundred and Five Only) per share. The said right issue offer period was opened for a period of 15 days, 24th March 2023 onwards. Based on the responses received from the existing shareholders of the Company, the Board of directors of the Subsidiary Company, Alphalogic Industries Limited, at it's Board Meeting held on 30th March 2023, has made allotment of 116672 equity shares of Rs. 10/- each at a premium of Rs. 105/- per share aggregating an amount of Rs. 1,34,17,280/- and has cancelled the issue of unsubscribed portion of equity shares, i.e. 79406 equity shares.

Further, it is disclosed that during the right issue offer period, Alphalogic Techsys Limited, has made an application for 116672 equity shares of Rs. 10/- each at a premium of Rs. 105/- per share by making a payment of Subscription Amount of Rs. 1,34,17,280/-, which has been fully allotted to the Company, Alphalogic Techsys Limited, by the Subsidiary Company, Alphalogic Industries Limited at it's Board Meeting held on 30th March 2023.

Holding Prior to Issue: - 51.00%
Holding Post Issue: - 69.28%

Further, the revised Authorized Capital of the Subsidiary Company, Alphalogic Industries Limited, is Rs.5,10,00,000/- divided into 51,00,000 equity shares of Rs.10/- each and paid-up capital is Rs.31,27,500/- divided into 3,12,750 shares of Rs.10/- each.

Shares of Alphalogic Techsys Ltd was last trading in BSE at Rs. 31.93 as compared to the previous close of Rs. 29.05. The total number of shares traded during the day was 24513 in over 90 trades.

The stock hit an intraday high of Rs. 31.95 and intraday low of 30.36. The net turnover during the day was Rs. 768763.00.

Source : Equity Bulls

Keywords

AlphalogicTechnsys StakeIncrease AlphalogicIndustries