Tembo Global Industries Allots Equity Shares Following Warrant Conversion
Tembo Global Industries Limited has completed the allotment of equity shares following the conversion of warrants, increasing the company’s issued and paid-up capital. The allotment was made through a preferential basis to members of the promoter group.The Board of Directors approved the allocation of 1,70,000 equity shares of Rs 10 each upon the conversion or exchange of an equal number of warrants, following the receipt of the required payment from the warrant holder.
Ms. Fatema Kachwala, a Promoter, received the allotted securities. The transaction details show that she had originally been allotted 4,05,000 warrants and 1,60,000 of those were converted prior to this specific allotment.
The financial details of the conversion are provided below:
| Name of the Allottee | Category | Number of Warrants Converted Prior to this Conversion | No. of Equity Shares Allotted against Conversion of Warrant | Warrant Exercise Price Received (@ Rs 213.75 per warrant) (Amount in Rs.) |
|---|---|---|---|---|
| Ms. Fatema Kachwala | Promoter | 1,60,000 | 1,70,000 | 3,63,37,500 |
The conversion involves the payment of the balance 75 percent (Rs 213.75 per warrant) of the warrant issue price. The Equity Shares issued have an issue price of Rs 285/- each, which includes a premium of Rs 275/-.
As a result of the allotment, Tembo Global Industries Limited's issued and paid-up capital has increased. It moved from the existing capital of Rs 19,11,01,980 (divided into 1,91,10,198 equity shares of Rs 10 each) to a revised total capital of Rs 19,28,01,980, which is divided into 1,92,80,198 equity shares of Rs 10 each.
The newly allotted equity shares rank pari-passu with the existing equity shares of the Company in all respects.
TEMBO Stock Price Movement
Tembo Global Industries Limited shares settled today, edging higher to close at ₹547.00 after gaining 0.5%. The stock finished the trading session with a volume of 114,242 shares recorded during the day.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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