Royale Manor Hotels and Industries Ltd allots 9.50 lakh shares

The Board of Directors of Royale Manor Hotels and Industries Limited at their meeting held on today i.e. January 17, 2024 has allotted 9,50,000 equity shares having face value of Rs. 10/- each fully paid up to Shree Bala Finvest Private Limited ("Promoter") consequent to the exercise of 9,50,000 Convertible Warrants held by Shree Bala Finvest Private Limited.

The allotment has been made for cash, upon the receipt of the remaining exercise price of Rs. 16.7325 per Convertible Warrant (being an amount equivalent to the 75% of the warrant exercise price of Rs. 22.31/- per warrant), aggregating to Rs. 31,58,95,875/- (Rupees One Crore Fifty-Eight Lakh Ninety-Five Thousand Eight Hundred Seventy-Five Only). These equity shares allotted on exercise of the warrants.

The shareholding of Shree Bala Finvest Private Limited after allotment of equity shares upon exercise of convertible Warrants will be 15.31% of the Equity Share Capital.

Shares of ROYALE MANOR HOTELS & INDUSTRIES LTD. was last trading in BSE at Rs. 35.45 as compared to the previous close of Rs. 36.00. The total number of shares traded during the day was 10863 in over 64 trades.

The stock hit an intraday high of Rs. 37.22 and intraday low of 34.60. The net turnover during the day was Rs. 383654.00.

Source : Equity Bulls

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ROYALEMANORHOTELSandINDUSTRIES INE008C01011 SharesAllotment Promoter FundRaising