S.Kumars Nationwide cancels 6625000 equity share warrants "Series - A" allotted to Mauritius Debt Management Ltd

S.Kumars Nationwide Ltd. has now announced with reference to the issue and allotment of series 'A' 66,25,000 warrants and Series 'B' 53,00,000 warrants of the Company to the respective investors.

M/s. Mauritius Debt Management Ltd, Mauritius, have not exercised their option for the conversion of 66,25,000 nos of equity share warrants (convertible into 26.5 million nos of equity shares of Rs 10/- each at a premium of Rs 72.50 per share) and hence the 10% deposit (paid amount) has been forfeited by the Company.

The promoters of the Company have exercised their option for the conversion of 53,00,000 nos of equity share warrants (convertible into 5.3 million no of equity shares of Rs 10/- each at a premium of Rs 72.50 per share) and the company has received the full amount of Rs 43,72,50,000/- from them.

The stock was trading at Rs.24.90, up by Rs.0.60 or 2.47%. The stock hit an intraday high of Rs.25.95 and low of Rs.24.35.

The total traded quantity was 329081 compared to 2 week average of 182392.

Source : Equity Bulls

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