Stock Report

Safari Industries India Ltd allots 12 lakh shares to Lighthouse India Fund IV AIF

Posted On : 2024-03-01 13:34:21( TIMEZONE : IST )

The Stakeholders' Relationship Committee of the Board of Directors of Safari Industries (India) Limited, vide its meeting held today i.e. 29th February 2024, has approved the allotment of 12,00,000 (Twelve Lakh) fully paid up equity shares of face value Rs. 2/- (Rupees Two Only) each ("Equity Shares") to Lighthouse India Fund IV AIF (Scheme of Lighthouse India Investment Trust, registered as Category II Alternative Investment Fund with SEBI) at a price of Rs. 1,908/- (Rupees One Thousand Nine Hundred Eight only) per Equity Share (including a premium of Rs. 1,906/- per Equity Share), on preferential basis, aggregating to cash consideration of Rs. 2,28,96,00,000/- (Rupees Two Hundred Twenty Eight Crore Ninety Six Lakh only).

The new Equity Shares as allotted above shall rank pari passu with the existing Equity Shares of the Company. The Company has received in-principle approvals from BSE Limited and National Stock Exchange of India Limited ("Stock Exchanges"), for the issue of aforesaid Equity Shares on Preferential basis, on 19th February 2024. The application for listing and trading approval to the Stock Exchanges for the Equity Shares allotted as above will be made in the due course.

Consequent to said allotment, the issued, subscribed and paid-up equity share capital of the Company would be increased from Rs. 9,51,34,428/- (Rupees Nine Crore Fifty One Lakh Thirty Four Thousand Four Hundred and Twenty Eight only) to Rs. 9,75,34,428 /- (Rupees Nine Crore Seventy Five Lakh Thirty Four Thousand Four Hundred and Twenty Eight only)

Shares of Safari Industries (India) Limited was last trading in BSE at Rs. 2031.40 as compared to the previous close of Rs. 1938.10. The total number of shares traded during the day was 5061 in over 1432 trades.

The stock hit an intraday high of Rs. 2054.80 and intraday low of 1874.80. The net turnover during the day was Rs. 9911483.00.