Asian Energy Services Limited board approves preferential issue

The Board of Directors of Asian Energy Services Limited at its meeting held today, commenced at 1:00 p.m. and concluded at 3.00 p.m., has, considered and approved the issuance of 67,00,000 (Sixty-seven Lakhs) Fully Convertible Equity Warrants ("Warrants") of Rs. 127.50/- (Rupees One Hundred Twenty-Seven and Fifty Paise Only) each aggregating to Rs. 85,42,50,000/- (Rupees Eighty-Five Crores Forty-Two Lakhs and Fifty Thousand Only) carrying a right exercisable by the warrant holder to subscribe to 1 (One) equity share of the face value of Rs. 10/- (Rupees Ten Only) each against each Warrant at an issue price of Rs. 127.50/- (Rupees One Hundred Twenty-Seven and Fifty Paise Only) including a premium of Rs. 117.50/- (Rupees One Hundred Seventeen and Fifty Paise Only), not being less than the price as determined in accordance with the provisions of Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended ("SEBI ICDR Regulations"), to the Promoters and Non-Promoter category on such terms and condition as may be determined by the Board, subject to approval of the shareholders of the Company and such other approvals as may be required.

Shares of Asian Energy Services Ltd was last trading in BSE at Rs. 144.10 as compared to the previous close of Rs. 137.25. The total number of shares traded during the day was 35329 in over 203 trades.

The stock hit an intraday high of Rs. 144.10 and intraday low of 135.00. The net turnover during the day was Rs. 5009064.00.

Source : Equity Bulls

Keywords

AsianEnergyServices INE276G01015 PreferentialIssue ConvertibleWarrants