Anand Rayons Ltd converts 4,38,463 warrants into equity shares at Rs 78 issue price
Anand Rayons Ltd has announced that its Board of Directors approved the conversion of 4,38,463 convertible warrants into an equal number of fully paid-up equity shares. The transaction resulted in the company receiving Rs 2,56,50,085.50 from the allotted shareholders.The allotment was made to the Promoter and Promoter Group Category on a preferential basis. The new equity shares have a face value of Rs 10 each and were issued at an issue price of Rs 78 per share, which includes a premium of Rs 68 per share.
The conversion required the allottees to pay the remaining balance amount equivalent to 75% of the issue price per warrant, amounting to Rs 58.50 per warrant. This payment was successfully received from the three named shareholders who exercised their rights.
The company's issued and paidup capital has been updated following this conversion. The capital now stands at Rs 21,90,83,870, comprising 2,19,08,387 equity shares of Rs 10 each. These newly allotted shares rank pari-passu with the existing equity shares of the company.
While the conversion process concluded for these specific warrants, the company noted that a total of 19,38,334 warrants are still outstanding and available for conversion into an equal number of Equity Shares by holders who pay the remaining Rs 58.50 per warrant within a specified timeframe.
The details of the warrant exercise and equity share allotment among the promoters are provided in the table below:
| Allottee Name | Total Warrants Allotted | Warrants Applied for Conversion | Equity Shares Allotted | Amount Received (75% payment) |
|---|---|---|---|---|
| Anand Gokulbhai Bakshi | 4,50,000 | 2,19,231 | 2,19,231 | 1,28,25,013.50 |
| Shilpa Anand Bakshi | 2,25,000 | 1,09,616 | 1,09,616 | 64,12,536 |
| Malaya Anand Bakshi | 2,25,000 | 1,09,616 | 1,09,616 | 64,12,536 |
| Total | 9,00,000 | 4,38,463 | 4,38,463 | 2,56,50,085.50 |
Stock Price Movement
Anand Rayons Ltd. shares settled at ₹54.98 after trading today, posting a 1.98% drop from the previous close. The stock moved through its intraday range, which stretched between a low of ₹54.01 and a high of ₹57.98.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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