Steel Exchange India allots 12% CCDs and Convertible Warrants on preferential basis

The company’s board approved the allotment of over Rs2.34cr Compulsorily Convertible Debentures and 58,22,150 Convertible Warrants.

Nov 25, 2021 10:11 IST India Infoline News Service

IT Stocks Up
Steel Exchange India Limited to inform you that the Board of Directors of the Company, vide its circular Resolution dated November 24, 2021, has approved the allotment of 2,34,60,000 unsecured 12% Compulsorily Convertible Debentures (CCDs) of Rs72.50 /- each convertible into 2,34,60,000 shares of Rs10/- each at a price of Rs72.50 /- per share (inclusive of a premium of Rs62.50 /- per share) on preferential basis.

The company’s board also approved allotment of 58,22,150 Convertible Warrants of Rs72.50 /- each convertible into 58,22,150 equity shares of Rs10/- each at a price of Rs72.50/- per share inclusive of premium of Rs62.50 /- per share) on preferential basis.

Ata round 11.03 am, Steel Authority of India Ltd was trading at Rs91.50 per piece up Rs1.50 or 1.67% from its previous closing of Rs110.65 per piece on the BSE.

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