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Antony Waste Handling Cell stock jumps 2.5% after stake in Antony Lara Enviro Solutions rises to 73%

The subsidiary on Thursday approved the conversion of 3,50,942 - 9% OCPS of Rs10 each into 3,50,942 fully paid-up equity shares of Rs10 each held by the company.

January 07, 2022 10:15 IST | India Infoline News Service
A Committee of the Board of Directors of Antony Lara Enviro Solutions Private Limited, a material subsidiary of Antony Waste Handling Cell Limited on Thursday have approved the conversion of 3,50,942 - 9% Optionally Convertible Preference Shares of Rs10/- each (OCPS) into 3,50,942 fully paid-up Equity shares of Rs10 each (i.e., in the ratio of 1:1), held by the company.

The Equity shares allotted pursuant to the conversion shall rank pari-passu with the existing equity shares capital of Antony Lara. Further, consequent upon the conversion, the controlling interest in Antony Lara stands increased from 63.04% to 73.00% (increase of 9.96%).

The company stock was bullish on Friday ans at around 10.18 am, Antony Waste Handling Cell Limited was trading at Rs326.85 per share up Rs8.15 or 2.56% on the BSE. 

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