<h1>Prabha Energy Approves Conversion of Partly Paid-Up Shares into Fully Paid-Up Equity Shares</h1>
Prabha Energy Limited has finalized the outcomes of its Rights Issue Committee meeting, approving the conversion of various partly paid-up equity shares into fully paid-up shares. This conversion was executed following the receipt of the Second and Final Call Money along with the First Call Money, where applicable.
The conversion process involved two specific groups of shares, leading to the allotment of a substantial number of fully paid-up equity shares. The committee approved the conversion of shares based on the realization of specific amounts from the partly paid-up status.
The details of the converted shares and the corresponding financial structure are presented below:
| Share Group | Originally Paid-up Status | Shares Converted | Conversion Basis | Fully Paid Shares Allotted | Issue Price |
|---|---|---|---|---|---|
| Group A | 67% paid-up (Face ₹0.67, Premium ₹95.81) | 8,795,395 | Realization of 33% of partly paid amount | 8,795,395 | ₹144 (Face ₹1, Premium ₹143) |
| Group B | 34% paid-up (Face ₹0.34, Premium ₹48.62) | 718,508 | Realization of 67% of partly paid amount | 718,508 | ₹144 (Face ₹1, Premium ₹143) |
In total, Prabha Energy Limited has allotted 9,513,903 fully paid-up equity shares. These shares carry a face value of ₹1 each and were issued at an issue price of ₹144 per share, which comprises ₹1 towards the face value and ₹143 towards the securities premium.
PRABHA Stock Price Movement
Prabha Energy Limited shares are edging higher to ₹218.6 as of 9:29 AM today, rallying by 2.15% in live trading. The stock currently trades within an intraday range, driven by a total traded volume of 27,576 shares and maintaining a low of ₹213.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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.