Pune E - Stock Broking Ltd Completes Preferential Allotment of Equity Shares
Pune E - Stock Broking Limited announced the conversion and allotment of equity shares arising from warrants, noting that the transaction resulted in an increase in the company's paid-up capital.The company's Board of Directors approved the allotment of 100,000 equity shares to M/S Viney Equity Market LLP, a non-promoter group entity. These shares were issued upon the conversion of an equivalent number of warrants. The issuance details include a face value of Rs. 10/- per share and were set at an issue price of Rs. 171/- per share, which includes a premium of Rs. 161/ per share.
The allotment was completed following the receipt of balance consideration amounting to Rs. 1,28,25,000 for the allotted shares, representing 75% of the issue price per warrant.
A summary of the transaction details is provided below:
| Name of the Allottee | Category | No of Warrants Held | No of Equity Shares Allotted | Amount Received (75% of Issue Price) |
|---|---|---|---|---|
| M/S Viney Equity Market LLP | Non-Promoter Group Category | Nil | 1,00,000 | 1,28,25,000/- |
Capital Structure Update
Following the allotment of these newly converted equity shares, the issued, subscribed, and paid-up Equity Share Capital of Pune E - Stock Broking Limited increased to Rs. 15,85,08,580/-. This capital consists of 1,58,50,858 fully paid up Equity Shares of Rs. 10/- each.The company confirmed that the newly allotted equity shares will rank pari-passu with all existing equity shares.
Key details regarding this preferential issuance include:
| Item | Details |
|---|---|
| Type of securities proposed to be issued | Fully paid-up equity shares upon conversion of share warrants |
| Type of issuance | Preferential allotment on Private Placement Basis |
| Total number of securities offered | 1,00,000 equity shares of the Company of face value Rs. 10/- each |
| Name of Investor | M/S Viney Equity Market LLP |
| Post Allotment Paid Up Capital | Rs. 15,85,08,580/- consisting of 1,58,50,858 equity shares of Rs. 10/- each |
| Issue Price per Warrant | Rs. 171 |
The company noted that while the allotment was completed and the balance amount was received, an amount equivalent to 25% of the warrant issue price had been received at the time of subscription, with the remaining 75% received upon the exercise of the option by allottee M/S Viney Equity Market LLP.
Stock Price Movement
Pune E - Stock Broking Ltd settled at ₹276.00 on Monday, sinking by 2.82% in after-hours trading. The shares traded within a tight intraday range, reaching a high of ₹277.00 before bottoming out at ₹276.00.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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