Integrated Industries Limited allots 20,50,000 convertible warrants

The Board of Directors of Integrated Industries Limited in their meeting held today has approved the allotment of 20,50,000 (Twenty Lakhs Fifty Thousand Only) convertible warrants at a price of Rs. 366/- (Rupees Three Hundred Sixty Six Only) per warrant, including a premium of Rs. 356/- (Rupees Three Hundred Fifty Six Only) per warrant, convertible into equivalent number of equity shares of face value Rs. 10/- (Rupees Ten) each ranking pari-passu with existing cquity shares of the Company, in respect of which 25% of the total consideration payable against cach warrant(s) has been received from the respective allottees in compliance with the applicable provisions of Seccurities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 and amendment thereof to the Mr. Manan Garg - 550000 warrants (promoter) and M/s Primus Overseas (P) Limited - 1500000 warrants (non-promoter) on preferential basis.

The above Warrants entitle the allottee to exercise an option to convert and get allotted one Equity Share of face value of Rs. 10/- (Rupees Ten Only) each fully paid up against each Warrant within 18 months from the date of allotment on payment of the remaining 75% of the issue price.

The fully paid-up equity shares of face value of Rs. 10/- each of the Company against each warrants shall be allotted on receipt of balance 75% of the issue price for each Warrant and the same shall be allotted within a period of eighteen months (18 months) from the date of allotment of warrants.

Shares of INTEGRATED NDUSTRIES LTD. was last trading in BSE at Rs. 441.00 as compared to the previous close of Rs. 440.00. The total number of shares traded during the day was 3043 in over 42 trades.

The stock hit an intraday high of Rs. 448.00 and intraday low of 440.00. The net turnover during the day was Rs. 1357808.00.

Source : Equity Bulls

Keywords

INTEGRATEDINDUSTRIES INE882B01029 ConvertibleWarrants FundRaising