Brightcom Group hits upper circuit after allotment of 1.50 crore equity shares under Preferential Issue

10 Mar 2022 , 10:08 AM

The Warrants and Share Allotment Committee of the Board of Directors of Brightcom Group on Wednesday approved the allotment of 1.50 crore equity shares of the Company, fully paid-up, pursuant to the conversion of preferential warrants into equity, to Shankar Sharma.

The Company had allotted 1,50,00,000 warrants to him on January 23, 2022, against a payment of 25% of the total amount.

On March 09, 2022, Sharma has paid the remaining 75% of the amount to the Company.

Brightcom Group Ltd stock opened at 5% upper circuit at Rs91.90 per piece on Thursday up by Rs4.35 from its previous closing of Rs87.55 per piece on the BSE. At around 10.10 am the stock was maintaining the 5% upside.