Valencia Nutrition Allots 15.2 Lakh Equity Shares Via Preferential Conversion
Valencia Nutrition Ltd announced the allotment of 15,20,000 equity shares pursuant to the conversion of warrants in a preferential allotment on a private placement basis. The shares were issued to a person belonging to the Promoter Category and resulted in a total consideration of Rs. 6,08,00,000/-.The company allotted the 15,20,000 equity shares at an issue price of Rs. 40/- per share. The shares have a face value of Rs. 10/- each and include a share premium of Rs. 30/-.
Details surrounding the transaction indicate that out of the total consideration, an amount aggregating to Rs. 1,52,00,000/-, which represents 25% of the issue price per warrant, was previously received as subscription money when the warrants were issued. The remaining balance amount of Rs. 4,56,00,000/-, accounting for 75% of the issue price, has now been received upon the exercise of the conversion right, and consequently, the equity shares have been allotted.
The allotment was made to one investor, Mr. Manish Pravinchandra Turakhia, who is categorized under the Promoter/Promoter group.
Transaction Summary
| Particulars | Details |
|---|---|
| Securities Issued | Equity Shares pursuant to Warrant Conversion |
| Total Number of Shares Allotted | 15,20,000 |
| Issue Price per Share | Rs. 40/- (including a premium of Rs. 30/-) |
| Total Consideration Received | Rs. 6,08,00,000/- |
| Shares Allotted to Promoter | 15,20,000 |
| Investor Name | Mr. Manish Pravinchandra Turakhia |
The newly allotted equity shares hold the same status as existing equity shares of the Company and rank pari passu in all respects, including dividend and voting rights. Following this conversion and allotment, there remain 23,90,000 warrants outstanding for conversion by the company.
Stock Price Movement
At the close of trade today, Valencia Nutrition Ltd settled at ₹58.00, marking a decline of 7.86% from previous closing levels. The shares spent the entire trading session completely flat, with both the intraday high and low registering at ₹58.00.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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