Tilaknagar Industries marks turnaround led by debt-restructuring, positions company for long-term growth ANI | Updated: May 17, 2021 14:01 IST
Mumbai (Maharashtra) [India], May 17 (ANI/NewsVoir): The Board of Tilaknagar Industries has approved allotment of 1.39 crore equity shares of Rs 10 each to Edelweiss Asset Reconstruction Company Limited (EARC) at an issue price of Rs 24.36 per share, including premium of Rs 14.36 per equity share.
The said allotment of shares on preferential basis to EARC has been done towards conversion of part of the debt owed to it by the company, amounting to approximately Rs 33.86 crore.
Subsequent to the allotment, Domestic Institutional Investors (DII) holding in the company will be 10 per cent. The promoter group holding will be 49.21 per cent and public shareholding (other than DII) 40.79 per cent.
Tilaknagar Industries marks turnaround led by Debt-Restructuring, positions company for Long-Term Growth equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
The Board of Tilaknagar Industries on 24 April 2021 has approved allotment of 1,39,03,752 equity shares of Rs 10 each to Edelweiss Asset Reconstruction Company at an issue price of Rs 24.36 per share towards conversion of part of the debt owned to it by the company amounting to Rs 33.86 crore into equity shares of the company on preferential basis.
Post aforesaid allotment, the paid up capital of the company is Rs. 1,39,33,83,550 divided into 13,93,38,355 equity shares.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.) Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger.