Himadri Speciality Chemical board allots 7,25,50,000 warrants; Stock marginally up

23 Aug 2022 , 09:18 AM

Himadri Speciality Chemical Ltd has informed the allotment of 7,25,50,000 warrants on preferential basis to the Promoter / Promoter Group of the Company

Upon receipt of an amount aggregating to Rs1,26,96,25,000 (Rupees One Hundred Twenty Six Crores Ninety Six Lakhs Twenty Five Thousand only) at the rate of Rs17.50 per warrant, being 25% of the issue price per warrant as upfront payment i.e. (‘Warrant Subscription Price’) and application forms from the 28 proposed allottees, the Share Issue & Allotment Committee of the Board of Directors of Himadri Speciality Chemical Ltd, has on August 22, 2022 considered and approved the allotment of 7,25,50,000 warrants at a price (including the Warrant Subscription Price and the warrant exercise price) of Rs. 70.00/- each payable in cash (‘Warrant Issue Price’), aggregating up to Rs5,07,85,00,000 ( Rupees Five Hundred Seven Crores Eighty Five Lakhs Only) (‘Total Issue Size’) on preferential basis to the Promoter/ Promoter Group of the Company and certain identified non-promoter entities (‘Allottees’).

At around 9:18 AM, Himadri Speciality Chemical Ltd was trading at Rs97.85 per share up by Rs0.5 or 0.51% from its previous closing of Rs97.35 per share on the BSE.