Lancor Holdings Ltd approves issue of 33,33,330 convertible warrants

The Board has approved the issue of up to 33,33,330 (Thirty Three Lacs Thirty three thousand three hundred & Thirty Only) Convertible warrants each convertible into, or exchangeable, at an option of Proposed Allottees, within a maximum period of 18 months from the date of allotment of Warrants into equivalent number of fully paid up equity share of the Company of face value of Rs.2/- (Rupee Two Only) each at a price of Rs. 30/- (Rupees Thirty Only) each payable in cash ("Warrant Issue Price"), aggregating up to Rs. 9,99,99,900/ (Rupees Nine Crores Ninety Nine Lacs Ninety Nine Thousand and Nine Hundred Only), to specified promoters, on preferential issue basis in accordance with the provisions of Chapter V of the SEBI ICDR Regulations, in such manner and on such terms and conditions as determined by the Board in its absolute discretion in accordance with the SEBI ICDR Regulations and other applicable laws subject to approval of shareholders.

Shares of LANCOR HOLDINGS LTD. was last trading in BSE at Rs. 21.65 as compared to the previous close of Rs. 23.20. The total number of shares traded during the day was 42506 in over 535 trades.

The stock hit an intraday high of Rs. 23.69 and intraday low of 21.34. The net turnover during the day was Rs. 937319.00.

Source : Equity Bulls

Keywords

LANCORHOLDINGS INE572G01025 Realty FundRaising ConvertibleWarrants