Simplex Infra sets new all-time high as board nods fund raise plan worth Rs421.81Cr

13 Apr 2022 , 03:02 PM

Simplex Infrastructure Limited has informed that the company’s Board of Directors has considered and approved the raising of funds up to Rs421.81 crore by issuing and allotting equity shares and warrants as decided by the company.

The company will issue 5,75,11,000 equity shares of Rs2 each at a price of Rs56.61 per share for a cumulative amount of Rs325,56,97,710 (Rs325.57 crore). For the rest of the consideration, the company has approved the issuance of 1,70,00,000 warrants each carrying a right to subscribe 1 equity share at a price of Rs56.61, aggregating to Rs96,23,70,000 (Rs96.24 crore).

These warrants may be exercised in one or more tranches within a period of 18 months starting from the allotment date of warrants.

Simplex Infrastructures is currently trading at Rs73.15 up by Rs3.45 or 4.95% from its previous closing of Rs69.70 on the BSE. The scrip has touched all time high of Rs73.15 in today’s trade.