Ganesh Benzoplast Ltd to issue shares to promoter entity, Malabar India Fund Ltd

The Board of Directors of Ganesh Benzoplast Ltd at their meeting held today i.e. Tuesday, 05th day, of December, 2023 have considered, deliberated, discussed and approved, the raising of funds Non-Promoter Qualified Institutional Buyer (QIB) by way of fresh issue of 17,00,000 (Seventeen Lakh) equity shares of face value Re. 1/- (Rupees One Only) each at a price of Rs. 160/- per share (including premium of Rs. 159/- (Rupees One Hundred FiftyNine Only) per share aggregating to Rs. 27,20,00,000/- (Rupees Twenty-Seven Crores Twenty Lakhs Only) on Preferential Allotment basis to Malabar India Fund Limited.

The board also approved raising of funds from promoter group entity by way of fresh issue of 1,80,000 (One Lakh Eighty Thousand) equity shares of face value Re. 1/- (Rupees One Only) each at a price of Rs. 175/- per share (including premium of Rs. 174/- (Rupees One Hundred Seventy-Four Only) per share aggregating to Rs. 3,15,00,000/- (Rupees Three Crores Fifteen Lac Only) on Preferential Allotment basis to Susram Financial Services and Realty Private Limited.

Shares of GANESH BENZOPLAST LTD. was last trading in BSE at Rs. 169.55 as compared to the previous close of Rs. 163.80. The total number of shares traded during the day was 99457 in over 1393 trades.

The stock hit an intraday high of Rs. 170.45 and intraday low of 164.05. The net turnover during the day was Rs. 16738443.00.

Source : Equity Bulls

Keywords

GANESHBENZOPLAST INE388A01029 PreferentialIssue MalabarIndiaFund PromoterGroupEntity