Jyoti Structures Ltd allots warrants, shares to Ashish Kacholia and others

The Board of Directors of Jyoti Structures Limited, at their meeting held today, i.e., December 30, 2023 through Video Conferencing (MS Teams) of the company has considered and approved the allotment of Warrants Convertible into Equity Shares on Preferential Basis and approved the allotment of Equity Shares on Preferential Basis.

Pursuant to approval granted by the shareholders of the Company in the General Meeting and In principle approval accorded by the stock exchanges, the Board has approved the allotment of upto 6,07,50,000 convertible warrants to the following allottees by way of preferential issue under Chapter V of the SEBI ICDR Regulations, 2018 to Ruchi Gupta - 30,00,000, RSP Ventures - 50,00,000, Mayank Subhash Rathod - 25,00,000, Mangala Subhash Rathod - 25,00,000, Saajan Subhash Rathod - 25,00,000, Sahi Trading Pvt. Ltd. - 25,00,000, Shakun Impex Pvt. Ltd. - 50,00,000, Bengal Finance & Investment Pvt. Ltd. - 1,80,00,000, Ashish Kacholia - 1,80,00,000, Sanjeev Aggarwal - 7,50,000 and Gajanand Agrawal 10,00,000.

Pursuant to approval granted by the shareholders of the Company in the General Meeting and In principle approval accorded by the stock exchanges, the Board has approved the allotment of equity shares of face value of Rs. 2/- per share at a premium of Rs. 11.20 per equity share on preferential basis to the following allottees by way of preferential issue under Chapter V of the SEBI ICDR Regulations, 2018 to Ruchi Gupta - 20,00,000, RSP Ventures - 25,00,000, Bengal Finance & Investment Pvt. Ltd. - 44,00,000, Ashish Kacholia - 44,00,000 and Gajanand Agrawal - 1,00,000.

Each warrant is convertible into or exchangeable for 1 (one) Equity Share of face value of Rs. 2/- each at premium of Rs. 11.20/- per Equity Share, aggregating to Rs. 80,19,00,000/- (Rupees Eighty Crores Nineteen Lakhs only)

An amount equivalent to atleast 25% of the Warrant Issue Price shall be payable at the time of subscription and allotment of each Warrant and the balance 75% shall be payable by the Warrant holder(s) on the exercise of the Warrant(s).

In the event, a Warrant holder does not exercise the Warrants within a period of 18 (Eighteen) months from the date of allotment of such Warrants, the unexercised Warrants shall lapse and the amount paid by the Warrant holders on such Warrants shall stand forfeited by Company.

The Equity shares of face value of Rs. 2 each fully paid-up, were allotted at a price of Rs. 13.20/- per equity shares (including premium of Rs. 11.20/- per share), aggregating up to Rs. 17,68,80,000 (Rupees Seventeen Crores Sixty Eight Lakhs Eighty Thousand Only.

Shares of JYOTI STRUCTURES LTD. was last trading in BSE at Rs. 19.35 as compared to the previous close of Rs. 19.10. The total number of shares traded during the day was 910206 in over 267 trades.

The stock hit an intraday high of Rs. 19.41 and intraday low of 18.90. The net turnover during the day was Rs. 17568602.00.

Source : Equity Bulls

Keywords

JYOTISTRUCTURES INE197A01024 FundRaising EquityShares ConvertibleWarrants PreferentialIssue