Pratibha Industries Updates on Preferential Allotment

Pratibha Industries Ltd has announced that the board has approved, subject to shareholders approval, a preferential allotment of equity shares and compulsorily convertible participatory preference shares amounting to approximately Rs. 50 crores to "Van Dyck" a subsidiary of "ChrysCapital V, LLC"; upto Rs. 92 per equity share and CCPPS of face value upto Rs. 92.

As per SEBI (ICDR) Regulations 2009, the exercise price for the equity shares as well as for the CCPPS shall not be lower than the highest of the following:

a. The average of weekly high and low of the closing prices of the Company's shares quoted on the Stock Exchange during the six months preceding the "Relevant Date" ; or

b. The average of the weekly high and low of the closing prices of the Company's shares quoted on the Stock Exchange during the two weeks preceding the "Relevant Date"; or

c. Upto Rs. 92/- per equity shares or CCPPS, the final price being determined by the Board.

The stock closed the day at Rs.80.95, down by Rs.0.65 or 0.80%. The stock hit an intraday high of Rs.82 and low of Rs.79.20.

The total traded quantity was 6.05 lakhs compared to 2 week average of 2.53 lakhs.

Source : Equity Bulls

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