Adani Ports SEZ approves allotment of over 7.06 crore shares pursuant to Composite scheme of arrangement

22 Feb 2022 , 02:56 PM

Adani Ports & Special Economic Zone Ltd stocks in focus after the company informed to the exchanges regarding allotment of equity shares pursuant to Composite Scheme of Arrangement.

The board of directors of the Company at its meeting held on February 21, 2022, has approved allotment of 7,06,21,469 Equity Shares of the face value of Rs. 2/- each fully paid up, to eligible shareholder of Brahmi Tracks Management Services Private Limited, in the share exchange ratio as provided in the Composite Scheme of Arrangement.

With the allotment of the above shares, the equity paid up share capital of the Company stands increased from 204,17,51,761 Equity Shares of Rs. 2/- each to 211,23,73,230 Equity Shares of Rs. 2/- each.

The aforementioned equity shares shall rank pari passu with the equity shares of the Company.

The Committee meeting commenced at 5:30 p.m. and concluded at 6.00 p.m.

At around 2:55 PM, Adani Ports & Special Economic Zone was trading at Rs699.50 apiece down by Rs11.6 or 1.63% on Sensex.