Inflame Appliances Ltd allots 3.50 lakh warrants

The Board of Directors of Inflame Appliances Ltd at its meeting held today i.e. August 17, 2023 has approved the allotment of 3,50,000 Warrants convertible into equal number of Equity Shares of Rs. 10/- each of the Company at an issue price of Rs. 526/- per warrant (including premium of Rs. 516/- per warrant) on preferential basis to Promoter upon receipt of 25% of issue price from the allottee in accordance with the provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

The above warrants entitle the allottee to apply for and be allotted equal number of equity shares for each warrant held by them on payment of balance 75% of the issue price within 18 months from the date of issue of these warrants.

Shares of Inflame Appliances Ltd was last trading in BSE at Rs. 669.90 as compared to the previous close of Rs. 625.85. The total number of shares traded during the day was 77500 in over 73 trades.

The stock hit an intraday high of Rs. 682.05 and intraday low of 623.80. The net turnover during the day was Rs. 49396325.00.

Source : Equity Bulls

Keywords

InflameAppliances INE464Z01017 FundRaising ConvertibleWarrants