Asian Energy Services Limited allots 67 lakh warrants at Rs. 127.50 per warrant

The Allotment Committee of the Board of Directors ("Allotment Committee") of Asian Energy Services Limited at their meeting held on Monday, 21st August, 2023 have allotted 67,00,000 (Sixty-seven Lakhs) warrants at a price of INR 127.50 per warrant aggregating to INR 85,42,50,000/- (Rupees Eighty-five Crores Fortytwo Lakhs Fifty Thousand Only) convertible into equal number of equity shares within a period of 18 (Eighteen) months from the date of allotment of warrants to the allottees on preferential basis. The allottees include:

Oilmax Energy Private Limited - Promoter - 33,50,000 warrants

Chartered Financial & Leasing Limited - Non-promoter - 19,00,000 warrants

Anantroop Financial Advisory Services Pvt. Ltd. - Non-promoter - 7,50,000 warrants

Sanket Rathi - Non-promoter - 2,00,000 warrants

Meenakshi Agrawal - Non-promoter - 5,00,000 warrants

An amount equivalent to 25% of the warrant issue price has been received upfront by the Company for each warrant and the balance 75% shall be payable by the warrant holder(s) on exercise of conversion options attached with the warrants.

Shares of Asian Energy Services Ltd was last trading in BSE at Rs. 145.15 as compared to the previous close of Rs. 146.75. The total number of shares traded during the day was 5571 in over 56 trades.

The stock hit an intraday high of Rs. 150.00 and intraday low of 145.00. The net turnover during the day was Rs. 826525.00.

Source : Equity Bulls

Keywords

AsianEnergyServices INE276G01015 FundRaising ConvertibleWarrants Promoter NonPromoter