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Ashoka Metcast approves issue of 74.94 lakh warrants on preferential basis

The Warrants shall be converted into equal number of Equity shares of face value of Rs10/- each.

December 07, 2021 9:16 IST | India Infoline News Service
Ashoka Metcast Limited has informed that the Board of Directors on December 06, 2021 has allotted on preferential basis 74,94,000 convertible Warrants at an issue price of Rs. 10/- per warrant in terms of the special resolution passed by the shareholders of the Company at the Annual General Meeting held on September 30, 2021.

As per regulatory filing, the Warrants shall be converted into equal number of Equity shares of face value of Rs. 10/- each at any time before eighteen months from the date of allotment.

The allotment is made to below mentioned Promoter and Promoter group from whom upfront payment of 25% of issue price of convertible warrants is received as subscription amount.

Shalin Ashok Shah- Promoter of the company
Leena Ashok Shah- Promoter Group
Ashok Chinubhai Shah- Promoter Group

On Tuesday morning trade, Ashoka Metcast was trading at Rs4.57 per piece higher by 4.82% on the BSE.

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