Promoters convert warrants of Jaykay Enterprises Ltd at Rs. 65, when market price is at Rs. 52

Upon receipt of an amount aggregating to INR. 29,19,79,837.5/- (Indian Rupees Twenty Nine Crore Nineteen Lakh Seventy Nine Thousand Eight Hundred Thirty Seven and Fifty paise only) at the rate of INR. 48.75/- (Indian Rupees Forty Eight and Seventy Five Paise Only) per warrant (being 75% of the issue price per warrant as "Warrant Exercise Price"), as per the terms of issue of Warrants, the Committee of Directors of the Board of Directors of Jaykay Enterprises Limited, has on June 26, 2023, considered and approved the allotment of 59,89,330 (Fifty Nine Lakh Eighty Nine Thousand Three Hundred Thirty) Equity Shares of Re. 1/- each, upon conversion/ exchange of/for equal number of Warrants.

Consequently, the issued and paid-up capital of the Company stands increased to INR 5,84,57,688/- consisting of 5,84,57,688 equity shares of Re. 1/- each.

The new equity shares so allotted, shall rank pari passu with the existing equity shares of the Company.

The Company had on June 13, 2022 w.r.t. announced about the allotment of 59,89,330 (Fifty Nine Lakh Eighty Nine Thousand Three Hundred Thirty) warrants, each convertible into, or exchangeable for, one equity share of face value of Re. 1/- each ("Warrants") at an issue price ("Warrant Issue Price") [including the warrant subscription price (INR 16.25 per warrant) and the warrant exercise price (INR 48.75 per warrant)] of INR. 65 each (Indian Rupees Sixty Five only) on preferential basis to Promoter and Promoter Group ("warrant holders").

Shares of JAYKAY ENTERPRISES LTD. was last trading in BSE at Rs. 52.00 as compared to the previous close of Rs. 50.59. The total number of shares traded during the day was 353503 in over 1323 trades.

The stock hit an intraday high of Rs. 56.75 and intraday low of 51.00. The net turnover during the day was Rs. 19125452.00.

Source : Equity Bulls

Keywords

JAYKAYENTERPRISES INE903A01025 FundRaising WarrantsConversion EquityShares PromoterGroup