Spare Electrex Limited allots shares on rights basis

The Board of Directors of Spare Electrex Limited in accordance with the Letter of Offer dated February 14, 2023 and pursuant to finalization of the Basis of Allotment of the Rights Issue in consultation with the designated stock exchange, BSE Limited and Registrar to the Issue, considered and approved the allotment of 1,46,67,000 (One Crore Forty Six Lakhs and Sixty Seven Thousand Only) Partly paid-up Equity Shares of face value of Rs.10.00/- (Rupees Ten Only) per Equity Share to the eligible applicants at an Issue price of Rs. 19.00/- (Rupees Nineteen Only) per Right Share and Rs. 4.75/- (Rupees Four and Seventy Five Paisa Only) paid on applications.

These shares shall rank pari-passu with the existing equity shares of the Company in all respects.

Subsequent to the said allotment, the issued, subscribed, and paid-up equity share capital of the Company shall stand increased to 48,89,000 Fully Paid-up Equity Shares of face value of Rs. 10/- each (Rs. 4,88,90,000/-) and 1,46,67,000 Partly Paid-up Equity Shares of face value of Rs. 10/- each (Rs. 2.50/- Partly Paid) (Rs. 3,66,67,500/-).

Shares of SPARC SYSTEMS LTD. was last trading in BSE at Rs. 18.69 as compared to the previous close of Rs. 18.50. The total number of shares traded during the day was 9299 in over 67 trades.

The stock hit an intraday high of Rs. 19.34 and intraday low of 18.24. The net turnover during the day was Rs. 173308.00.

Source : Equity Bulls

Keywords

SPARCELECTREX INE960B01015 RightsShares Allotment