Asian Petroproducts and Exports Ltd allots 9.7 lakh shares on conversion of warrants

The Board of Directors of Asian Petroproducts and Exports Ltd had, pursuant to the approval of the Shareholders in the 29th Annual General Meeting held on 30th September, 2021 and other regulatory approvals and requirements allotted 23,87,500 warrants convertible into equivalent number of Equity Shares on Preferential basis to the Promoter and Promoter Group on 30th November, 2021.

Consequently, the Board of Directors in its meeting held today i.e. 13th April, 2023, has issued and allotted 9,70,000 Equity Shares of Face Value of Rs.10/- each to the warrant holders.

Subsequent to the aforesaid allotment, the paid up capital of the Company has increased from Rs.7,69,75,000/- (Seven Crores Sixty Nine Lakhs Seventy Five Thousands Five Hundred only) to Rs.8,66,75,000 (Eight Crores Sixty Six Lakhs Seventy Five Thousands only) Equity Share Capital of Face Value of Rs. 10/- each. The Shareholding of Promoter and Promoter Group has increased from 56.08% to 61.00% the total Paid-up Share Capital of the Company.

The allotment of the Equity Shares shall be made in dematerialized form and the Equity Shares so allotted shall rank pari passu with the existing Equity Shares of the Company in all respect.

Shares of ASIAN PETROPRODUCTS & EXPORTS LTD. was last trading in BSE at Rs. 24.86 as compared to the previous close of Rs. 25.78. The total number of shares traded during the day was 9598 in over 83 trades.

The stock hit an intraday high of Rs. 27.06 and intraday low of 24.50. The net turnover during the day was Rs. 242380.00.

Source : Equity Bulls

Keywords

ASIANPETROPRODUCTSandEXPORTS INE810M01019 EquityShares WarrantsConversion