Dhanvarsha Finvest board allots 13,00,989 equity shares on conversion of warrants

21 Apr 2022 , 09:19 AM

Karan Neale Desai, holding convertible warrants (non-promoter) of Dhanvarsha Finvest Limited has exercised option for part conversion of warrants held by him by conversion of 13,00,989 warrants (post sub-division) into equity shares of the Company.

Accordingly, subsequent to giving effect of the sub-division of equity shares approved by the Shareholders of the Company at its Twenty Seventh AGM held on September 20, 2021, the Board of Directors of the Company, have vide resolution passed by circulation on April 20, 2022, approved the allotment of 13,00, 989 equity shares of the Company of face value of Rs.2/- each at a premium of Rs.20.26/- per share to Desai.

Consequently, with effect from April 20, 2022, the paid-up equity share capital of the Company has increased from Rs. 17,76,77,878/- comprising of 8,88,38,939 equity shares of Rs.2/- each to Rs.18,02, 79,856/- comprising of 9,01,39, 928 equity shares of Rs.2/- each.

At around 9:21 AM, Dhanvarsha Finvest was trading at Rs102.30 apiece higher by 0.64% on the BSE.