Intellivate Capital Ventures Ltd board approves 2:1 bonus issue, change name as Gourmet Gateway India Ltd

The Board of Directors of Intellivate Capital Ventures Limited at their meeting held today i.e. on Friday, December 29, 2023, considered and approved the issue of 2 (Two) Bonus Shares for every 1 (One) Equity Shares held by the Equity Shareholders of the Company as on 'Record Date'. The Bonus Issue of Equity Shares is subject to the approval of the shareholders and other applicable statutory and regulatory approvals, as may be required. The Company will intimate the 'Record Date' for determining eligible Shareholders entitled to receive bonus shares, in due course of time.

The Company has 74,68,710 (Seventy Four Lacs Sixty Eight Thousand Seven Hundred Ten) outstanding Warrants and 26,65,242 (Twenty Six Lacs Sixty Five Thousand Two Hundred Forty Two) outstanding Compulsorily Convertible Preference Shares (CCPS), both the securities convertible into Equity Shares. The said Warrant / CCPS holders shall also be eligible for the bonus issue of equity shares post conversion of such warrants / CCPS into Equity Shares. The Company shall also keep a reserve of Rs. 2,02,67,904/- (Rupees Two Crores Two Lacs Sixty Seven Thousand Nine Hundred Four Only) for the purpose of bonus issue of equity shares to the warrant / CCPS holders, as the case may be, post conversion into equity shares by capitalisation of Securities Premium account and/or reserves & surplus.

The Bonus Shares once allotted shall rank pari-passu in all respects and carry the same rights of the existing Equity Shares and shall be entitled to participate in full in any dividend and either corporate action(s), recommended and declared after the issue and allotment of such Bonus Shares.

Subject to approval of Members of the Company, the Board has proposed to increase the authorised share capital of the Company from existing Rs. 15,00,00,000/- (Rupees Fifteen Crore only), comprising of 10,00,00,000 (Ten Crore) equity shares of Rs. 1/- (Rupee One) Each and 5,00,00,000 (Five Crore) Preference Shares of Rs. 1/-each to Rs. 22,00,00,000/-(Rupees Twenty Two Crore) comprising of 17,00,00,000 (Seventeen Crore) equity shares of Rs. 1/-(Rupee One) Each and 5,00,00,000 (Five Crore) Preference Shares of Rs. 1/-each.

The Board of Directors of the company has proposed to change the company's name from "Intellivate Capital Ventures Limited" to "Gourmet Gateway India Limited." This proposal is subject to the approval of the Registrar of Companies, the approval of the Stock Exchange (i.e., BSE Limited) on which the securities are listed, and the approval of the company's shareholders. Additionally, approval from any other relevant authority may be required.

Shares of INTELLIVATE CAPITAL VENTURES LTD. was last trading in BSE at Rs. 125.65 as compared to the previous close of Rs. 128.21. The total number of shares traded during the day was 70016 in over 276 trades.

The stock hit an intraday high of Rs. 125.65 and intraday low of 125.65. The net turnover during the day was Rs. 8797510.00.

Source : Equity Bulls

Keywords

INTELLIVATECAPITALVENTURES INE512D01028 BonusIssue 2For1 NameChange GourmetGatewayIndia