NACL Industries allots 15.80 lakh equity shares to a promoter; stock gains 1%

K. Lakshmi Raju, Promoter & Warrant holder of the company bought shares at a price of Rs39 per share upon conversion of 15.80 lakh Convertible Warrants into equity shares.

Apr 09, 2021 10:04 IST India Infoline News Service

NACL Industries Limited informed the exchanges Thursday that K. Lakshmi Raju, Promoter & Warrant holder, has exercised her right of converting the remaining 15.80,000 lakh, out of total 50 lakh warrants issued and allotted by the company on September 30, 2020, on a preferential basis, by submitting warrant conversion form along with warrant exercise amount of Rs29.25 per warrant (i.e. 75% of the issue price) aggregating Rs4.62cr.

Upon the aforesaid exercise of options of converting the warrants into equity shares, the Stakeholders Relationship Committee ('SRC'), duly authorised by the Board of Directors in this regard, in its meeting held on April 8, 2021 has inter-alia allotted 15.80 lakh equity shares of face value of Rsl each to K. Lakshmi Raju, at an issue price of Rs39 per share (i.e. premium of Rs38 each) in the ratio of 1: 1.

Subsequent to allotment of the aforesaid equity shares, the paid up share capital of the company stand increased from Rs19.62cr divided into 19,62,17,758 equity shares of Rs.1 each to Rs.19.78cr divided in to 19, 77, 97,758 equity shares of Rs.1 / - each.

Ata round 10.42 am, NACL Industries Ltd was trading at Rs40.50 per piece up Rs0.50 or 1.25% from its previous closing of Rs40 per piece on the BSE.

Related Story

Open Free Demat Account (Rs699)