LKP Securities board allots 59,88,023 warrants; Stock gains 4%

26 Jul 2022 , 11:00 AM

LKP Securities Limited stocks in the fast lane post announcement of allotment of 59,88,023 warrants by the company.

Pursuant to the approval granted by the Shareholders at their Annual General Meeting held on June 20, 2022, the Board of Directors of the company has allotted 59,88,023 convertible Warrants at an issue price of Rs16.70/- per warrant aggregating upto Rs10 crore to 3 allottees – LKP Finance Limited-Promoter Group (29,94,011), Bhavana Holdings Private Limited-Promoter Group (11,97,605) and Mahendra V. Doshi-Promoter (17,96,407).

Further, the Company has received initial warrant subscription price amount of Rs2.5 crore equivalent to 25% of the warrant issue price as prescribed by the SEBI Regulations for allotment of the Warrants.

On Tuesday at around 11:00 AM, LKP Securities was trading at Rs14.14 per share higher by 4.20% on the BSE.