Gorani Industries board nods preferential issue of 6.50 lakh warrants; Stock hits new high

8 Feb 2022 , 01:01 PM

Gorani Industries Ltd has informed that the Directors of the Company in its Board Meeting held on February 07, 2022 has approved the issuance of 6,50,000 warrants convertible into equity shares through preferential allotment, subject to approval of the shareholders of the Company.

Name of the Investors are

• Sanjay Kumar Gorani (Promoter)
• Nakul Gorani (Promoter)
• Geet Gorani (Promoter) and
• Anil Gorani (Promoter

As per regulatory filing, each warrant shall be convertible into one equity shares within a period of 18 months from the date of allotment at price of Rs47/- per share i.e face value Rs. 10/- each and a premium of Rs37/- per share.

Warrants will be convertible into equity shares within a period of 18 months from the date of allotment.

At around  1:02 PM, Gorani Industries was trading at Rs54.50 apiece up by Rs2.55 or 4.91%, hitting 52-week high on the BSE.