K&R Rail Engineering Ltd allots 34,59,976 equity shares on conversion of warrants

The board of directors of K&R Rail Engineering Limited at its meeting held on Tuesday, the 02nd Day of May, 2023 at 4.00 P.M. (IST) at the Registered office of the company situated at 12-5-32/8, Bhatukamma kunta, Vijaypuri, South Lallaguda, Secunderabad, Telangana, 500017, has considered and approved the allotment of 34,59,976 equity shares of face value of Rs.10/- each to fully paid-up pursuant to the exercise of 34,59,976 convertible warrants (partial conversion of the outstanding warrants) on receipt of Rs 53.70 per warrant - being 75% of the balance warrant issue price, aggregating to Rs.18,58,00,712. ( Issue price is Rs.71.60/- per convertible Warrant).

The Issue price is Rs.71.60 per equity share is divided into Rs.10/- as face value and Rs.61.60 as premium per equity share.

Post the allotment of equity shares, the paid-up equity shares of the Company has increased from Rs. 15,78,01,050 /- (Rupees Fifteen Crores Seventy Eight Lakhs One Thousand and Fifty only) to Rs. 19,24,00,810/- (Rupees Nineteen Crores Twenty- Four Lakhs Eight Hundred and Ten only).

Shares of K&R Rail Engineering Ltd was last trading in BSE at Rs. 379.15 as compared to the previous close of Rs. 361.10. The total number of shares traded during the day was 11415 in over 178 trades.

The stock hit an intraday high of Rs. 379.15 and intraday low of 350.05. The net turnover during the day was Rs. 4274553.00.

Source : Equity Bulls

Keywords

KandRRailEngineering INE078T01026 SharesAllotment WarrantsConversion