National Stock Exchange Grants In-Principle Approval for On Door Concepts Limited's Preferential Issue of Convertible Warrants
On Door Concepts Limited has received in-principle approval from the National Stock Exchange of India Limited (NSE) regarding the planned issue and allotment of 20,00,000 convertible warrants on a preferential basis. The approval concerns the issuance to Promoter, Promoter Group, and Non-Promoter Investors.The NSE granted the approval, which is set following the company's proposal for the preferential issue approved by its shareholders. The terms under this preliminary approval specify an issue price of Rs. 156/- per warrant. This issue price includes a premium of Rs. 146/- per equity share.
In addition to the warrant issuance, the NSE also granted in-principle approval concerning the subsequent issue of Equity shares resulting from the conversion of these warrants into Equity shares at Rs. 10/- each, issued pursuant to a preferential basis.
Details regarding the In-Principle Approval as reported by On Door Concepts Limited are summarized below:
| Particulars | Description |
|---|---|
| Regulatory Authority | National Stock Exchange of India Limited (NSE) |
| Approval Details | In-Principle approval granted for issuing and allotting 20,00,000 convertible warrants at an issue price of Rs. 156/- per warrant to Promoter, Promoter Group, and Non-Promoters Investors on a preferential basis. |
| Impact of Approval | Upon receipt of the In-Principle approval, the Company is permitted to issue and allot 20,00,000 convertible warrants on a preferential basis. |
| Status | Not Applicable (Withdrawal/cancellation) |
The NSE emphasized that the issuance of these securities is subject to the company meeting various conditions, including filing the necessary listing application from the date of allotment and securing all required statutory approvals and compliance as per applicable laws.
ONDOOR Stock Price Movement
On Thursday, On Door Concepts Limited shares slipped by 2.75%, settling at ₹201.45 after trading down ₹5.55 from the previous day's close. The stock recorded a total traded volume of 7,200 shares during the session.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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