Walchandnagar Industries Ltd allots 2,17,18,023 warrants

The Allotment Committee of the Board of Directors of Walchandnagar Industries Ltd at their meeting held today i.e. November 16, 2023, have allotted 2,17,18,023 (Two Crore Seventeen Lakhs Eighteen Thousand and Twenty Three) equity warrants at a price of Rs. 114/- per warrant aggregating up to Rs. 2,47,58,54,622/- (Rupees Two Hundred and Forty Seven Crore Fifty Eight Lakhs Fifty Four Thousand Six Hundred and Twenty Two only) convertible into equal number of equity shares within a period of 18 (Eighteen) months from the date of allotment of the Warrants to the allottees, on Preferential Basis.

An amount equivalent to 33.33% of the Warrant Issue Price has been received upfront by the Company of each Warrant in cash and through conversion/appropriation of existing debt of the promoters entities and the balance 66.67% shall be payable by the Warrant holder(s) on the exercise of the Warrant(s).

Shares of Walchandnagar Industries Limited was last trading in BSE at Rs. 177.85 as compared to the previous close of Rs. 174.40. The total number of shares traded during the day was 28735 in over 117 trades.

The stock hit an intraday high of Rs. 177.85 and intraday low of 177.85. The net turnover during the day was Rs. 5110519.00.

Source : Equity Bulls

Keywords

WalchandnagarIndustries INE711A01022 FundRaising Warrants