Ashish Kacholia, India Bridge Fund to invest in preferential issue of Sanjivani Paranteral Ltd

The Board of Directors ('Board') of Sanjivani Paranteral Ltd, at its meeting held today i.e. December 25, 2023, approved the issuance of Convertible Warrants - Issuance of upto 600,000 (Six Lakhs) warrants each convertible into, or exchangeable for, one equity shares within the period of 18 (eighteen months) in accordance with the applicable law ("Warrants") at a price of Rs. 135.10 (Rupees One Hundred and Thirty-Five and Ten Paise only) ("Warrant Issue Price") each (including the warrant subscription price and the warrant exercise price) aggregating upto Rs. 8,10,60,000 (Rupees Eight Crore Ten Lakhs Sixty Thousand Only) to the specified Promoter Mr. Ashwani Khemka ("Proposed Warrant Allottee" or "Warrant Holder) by way of preferential issue and subject to necessary approval of the members of the Company and other regulatory authorities including BSE Limited, or such other authority as maybe applicable ("Warrants Issue"). Upon issuance of Warrants an amount of Rs. 33.76 (Rupees Thirty-Three and Seventy-Six Paise Only) for each Warrants shall be payable by the Warrant Holders upfront at the time of subscription and allotment of each Warrant ("Warrants Subscription Price") and entitling the Warrant Holder(s) to apply for and get allotted one Equity Share of the Company against every Warrant held, in one or more tranches within a maximum period of 18 (eighteen) months from the date of allotment of Warrants, on payment of balance Rs. 101.34 (Rupees One Hundred One and Thirty-Four Paise only) which is equivalent to remaining 75% (Seventy-five per cent) of the Warrant Issue Price, for each Warrant proposed to be converted, in such manner and upon such terms and conditions as may be deemed appropriate by the Board in accordance with the terms of this issue, provisions of ICDR Regulations, or other applicable laws in this respect.

The board also approved issuance of 16,86,000 (Sixteen Lakh Eighty-Six Thousand) Equity shares, having Face Value of Re. 10/- (Rupee Ten Only) each at a price of Rs. 135.10/- (Rupees One Hundred Thirty-Five and Ten Pasie only) per Equity Share (including a premium of Rs. 125.10/- (Rupees One Hundred Twenty-Five and Ten Paise Only) per share ("Preferential Allotment Price"), aggregating to Rs. 22,77,78,600/- (Rupees Twenty-Two Crores Seventy-Seven Lakhs Seventy-Eight Thousand Six Hundred Only), to Non-Promoter Investors , on Preferential basis, subject to approval of shareholders, on such terms and conditions as may be determined by the Board in accordance with the Act, SEBI ICDR Regulations and other applicable laws.

The allottees for equity shares include:

India Bridge Fund (India Equity Fund1) - 600,000
Mr. Ashish Kacholia - 370,000
Mrs. Monika Garware - 300,000
Mr. Anurag Jain - 108,000
Ashika Global Securities Pvt. Ltd. - 108,000
Neelachal Edifice LLP - 75000
Shalaka Devendra Chawla - 50,000
Mr. Sudheer Mahajan - 25,000
Venus Orchards Pvt. Ltd. - 25,000
Plasma Commercials Pvt. Ltd. - 25,000

Shares of Sanjivani Paranteral Limited was last trading in BSE at Rs. 166.50 as compared to the previous close of Rs. 158.60. The total number of shares traded during the day was 31701 in over 121 trades.

The stock hit an intraday high of Rs. 166.50 and intraday low of 159.00. The net turnover during the day was Rs. 5255595.00.

Source : Equity Bulls

Keywords

INE860D01013 SanjivaniParanteral Pharmaceuticals PreferentialIssue ConvertibleWarrants EquityShares