Bedmutha Industries to consider fundraising plan tomorrow via capital market instruments

The fund raise will be through allotment of 77,32,273 equity shares aggregates to Rs42.53cr and 23,01,500 Non‐Convertible CRPS against an unsustainable loan of Rs230.15cr.

Jan 04, 2021 11:01 IST India Infoline News Service

Bedmutha Industries Limited on Saturday informed the exchanges that a meeting of the Fund Raising Committee of the Company is scheduled to be held on Tuesday to consider and approve with the proposed issue of securities of our company.

The company will consider approval for allotment of 77,32,273 Equity Shares at Rs55/‐ each (Face value Rs10/‐ and premium of Rs45/‐) aggregating to Rs42.53cr for cash, to identified allottees as approved by the Members of the Company at the 30th Annual General Meeting.

It will also consider allotment of 23,01,500 Non‐Convertible Cumulative Redeemable Preference Shares (CRPS), having a face value of Rs10/ ‐each and premium of Rs990/‐ each, to consortium bankers namely Punjab National Bank, Bank of Baroda, Bank of India, Exim Bank and Andhra Bank (now Union Bank) against unsustainable loan of Rs230.15cr as a part of Debt Restructuring  Plan.

Ata round 12 noon, Bedmutha Industries was trading at Rs27.40 per piece down Rs0.45 or 1.62% on the BSE.

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