Archana Software Ltd to issue warrants to promoter at Rs. 51.15 per warrant

The Board of Directors of Archana Software Ltd at their meeting held on January 19, 2024 have, considered and approved the raising of funds by way of issue of 25,02,443 Convertible Warrants to Promoter on preferential allotment basis at offer price of Rs. 51.15 each as determined in accordance with rules and regulations of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 as amended and to consider other matters consequential thereto, subject to the approval of the shareholders and Stock Exchange.

Post Preferential allotment (Assuming Full Conversion of Warrants into Equity Shares), promoter Mr. Shaju Thomas' stake will increase from 983926 shares (16.22%) to 3486369 shares (40.69%).

Shares of ARCHANA SOFTWARE LTD. was last trading in BSE at Rs. 78.63 as compared to the previous close of Rs. 77.09. The total number of shares traded during the day was 1038 in over 7 trades.

The stock hit an intraday high of Rs. 78.63 and intraday low of 78.63. The net turnover during the day was Rs. 81617.00.

Source : Equity Bulls

Keywords

ARCHANASOFTWARE INE149B01015 FundRaising ConvertibleWarrants PreferentialIssue