GHCL forfeits warrant application money

GHCL Ltd has announced regarding 45 Lacs Preferential Convertible Warrants issued to Promoter Company (M/s. Oval Investment Pvt. Ltd).

M/s. Oval Investment Pvt. Ltd has expressed its willingness to subscribe to the preferential convertible warrants provided the Company grants an extension of time of 60 days.

As the Company statutorily can not allow additional time as per provisions of Clause 13.1.2.3 of SEBI (Disclosure & Investor Protection) Guidelines 2000, it has forfeited the initial amount of Rs. 6,65,73,000 deposited with the Company in compliance with the aforesaid provision.

The stock closed the day at Rs.25.15, down by Rs.0.15 or 0.59%. The stock hit an intraday high of Rs.25.30 and low of Rs.24.50.

The total traded quantity was 67249 compared to 2 week average of 77221.

Source : Equity Bulls

Keywords