AVG Logistics Ltd board approves preferential issue

The Board of Directors of AVG Logistics Limited (the "Company") at their meeting held today i.e. Friday, January 12, 2024 has approved the proposal to issue and allot 15,72,449 equity shares of face value of Rs. 10/- each fully paid-up ("Equity Shares") to Non-Promoters, on a preferential basis in accordance with Chapter V of the SEBI ICDR Regulations, as amended, and other applicable laws, at a price of Rs. 371/- (Rupees Three Hundred and Seventy-One Only) per Equity Share, subject to it being in compliance with the minimum price calculated in accordance with Regulation 164 for Preferential Issue contained in Chapter V of SEBI ICDR Regulations as amended, subject to the approval of regulatory/ statutory authorities and the shareholders of the Company.

The board approved proposal to issue and allot 3,00,000 Convertible Warrants ("Warrants"), each Warrant convertible into 1(one) Equity Share of face value of Rs. 10/- each (Rupees Ten only) to one of the Promoters, on a preferential basis in accordance with Chapter V of the SEBI ICDR Regulations, as amended, and other applicable laws, at a price of Rs. 371/- (Rupees Three Hundred and Seventy-One Only) per Warrant, subject to it being in compliance with the minimum price calculated in accordance with Regulation 164 for Preferential Issue contained in Chapter V of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirement) Regulations, 2018 ("SEBI ICDR Regulations") as amended, subject to the approval of regulatory / statutory authorities and the shareholders of the Company.

The board approved proposal to issue and allot 5,05,000 Convertible Warrants ("Warrants"),each Warrant convertible into 1(one) Equity Share of face value of Rs. 10/- each (Rupees Ten only) to Non-Promoters, on a preferential basis in accordance with Chapter V of the SEBI ICDR Regulations, as amended, and other applicable laws, at a price of Rs. 371/- (Rupees Three Hundred and Seventy-One Only) per Warrant, subject to it being in compliance with the minimum price calculated in accordance with Regulation 164 for Preferential Issue contained in Chapter V of SEBI ICDR Regulations as amended, subject to the approval of regulatory / statutory authorities and the shareholders of the Company.

Shares of AVG Logistics Limited was last trading in BSE at Rs. 431.90 as compared to the previous close of Rs. 453.05. The total number of shares traded during the day was 13083 in over 1271 trades.

The stock hit an intraday high of Rs. 454.75 and intraday low of 426.10. The net turnover during the day was Rs. 5743396.00.

Source : Equity Bulls

Keywords

AVGLogistics INE680Z01018 FundRaising PreferentialIssue