Kabra Extrusiontechnik allots over 11 lakh share warrants; Stock hits 10% upper circuit

25 Feb 2022 , 02:51 PM

The Securities Allotment Committee of the Board of Directors of Kabra Extrusiontechnik Limited has approved the allotment of 11,10,030 Share Warrants, each convertible into, or exchangeable for, one equity share of the face value of Rs5/- each at an issue price (including the warrant subscription price at the rate of Rs82.25 per warrant (“Warrant Subscription Price”) and the warrant exercise price at the rate of Rs246.75 per warrant (“Warrant Exercise Price”)] of Rs329/- each to University of Notre Dame Du Lac (728267), The RAM FUND, LP (194833) and GP Emerging Markets Strategies, L.P. (186930).

The remaining 19,60,486 share warrants will be allotted on the receipt of the amount from the Investors.

The company stock was in demand on Friday and hit 10% upper circuit of Rs424.55 per share during intraday trade on Friday. At around 2.15 pm, Kabra Extrusiontechnik Limited was trading at Rs423.00 per share up Rs37.00 or 9.59% on the BSE.

The allotment was after approval from Board of Directors at its meeting held on December 25, 2021 and approval of the members of the Company at their Extra-Ordinary General Meeting held on January 21, 2022 and pursuant to In-principle approvals granted by BSE Limited and National Stock Exchange of India Limited.

The company received an amount aggregating to Rs9,12,99,967.50 at the rate of Rs82.25 per warrant (being 25% of the issue price per warrant) as warrant subscription price.