S J Logistics Announces Equity Share Allotment Following Warrant Conversion
S J Logistics (India) Limited has approved the allotment of equity shares resulting from the conversion of warrants. The company allotted 1,20,000 equity shares at an issue price of ₹576/- per share to a promoter category individual. This transaction saw the receipt of funds aggregating to ₹5,18,40,000/-.The allotment is designated for a person belonging to the Promoter Category and was executed on a preferential basis. The allotted shares are fully paid-up and will rank pari-passu with existing equity shares of the company.
Key details regarding the conversion process are as follows:
| Allotted Shares | Warrants Converted | Issue Price per Share | Amount Received (75%) |
|---|---|---|---|
| 1,20,000 | 1,20,000 | ₹576/- | ₹5,18,40,000/- |
The allotment was made in connection with the conversion of warrants into equity shares. The individual who received the shares is Rajen Hasmukhlal Shah. Prior to this specific conversion, he held 4,05,000 warrants. Of these, 1,20,000 were applied for conversion, resulting in the allotment of 1,20,000 equity shares.
Following the current transaction, S J Logistics (India) Limited has a remaining balance of 2,85,000 warrants pending for conversion. The warrant holder is entitled to convert these remaining warrants into Equity Shares by paying the balance amount of ₹432/- per warrant within an 18 month period from the date of warrant allotment.
As a result of this share allotment and subsequent transaction, the Issued, Subscribed and Paid-up Equity Share Capital of S J Logistics (India) Limited has increased to ₹15,53,81,300/-. This capital consists of 1,55,38,130 fully paid-up Equity Shares of ₹10/- each.
SJLOGISTIC Stock Price Movement
As of 11:36 AM, shares of S J Logistics (India) Limited are slipping as they shed 0.93% in live trading, with the stock currently priced at ₹331.3. The transport services equity has seen a volume of 3750 shares traded so far 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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