Jupiter Wagons Ltd approves preferential issue of warrants to Tatravagonka A.S.

The Board of Directors of Jupiter Wagons Limited (the "Company") at their meeting held on Sunday, May 19, 2024 has approved the proposal to issue and allot upto 28,72,340 Convertible Warrants ("Warrants"), each Warrant convertible into 1(one) Equity Share of face value of Rs. 10/- each (Rupees Ten only) to Tatravagonka A.S., one of the Promoter of the Company, 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. 470/- (Rupees Four Hundred and Seventy Only) per Warrant (including Premium of Rs. 460/-) at an aggregate consideration not exceeding Rs. 1,35,00,00,000/-(Rupees One Hundred Thirty Five Crores Only), 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.

Shares of Jupiter Wagons Limited was last trading in BSE at Rs. 515.90 as compared to the previous close of Rs. 528.70. The total number of shares traded during the day was 112221 in over 4610 trades.

The stock hit an intraday high of Rs. 535.20 and intraday low of 502.30. The net turnover during the day was Rs. 58709903.00.

Source : Equity Bulls

Keywords

JupiterWagons INE209L01016 PreferentialIssue ConvertibleWarrants PromoterGroup Tatravagonka