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Prakash Industries Ltd allots 75 lakh warrants at Rs. 44.10

Prakash Industries Ltd allots 75 lakh warrants at Rs. 44.10
Posted On:
2020-12-12 03:14:11
(Time Zone: Arizona, USA)
The Allotment Committee of Prakash Industries Limited in its meeting held on 12th December, 2020 at 2.00 p.m. and concluded at 2.30 p.m. has allotted 75,00,000 Convertible Equity Warrants at a price of Rs. 44.10 aggregating to Rs. 33,07,50,000/- on receipt of 25% upfront money by the Company, to Shri Ved Prakash Agarwal, Promoter of Prakash Industries Ltd.
Each warrant is convertible into one fully paid-up equity share of face value of Rs. 10/- of the Company in accordance with the provisions of Chapter VII of SEBI ICDR Regulations, on payment of the balance consideration i.e. 75% (Seventy Five Percent) by the Warrant holder at the time of allotment of equity shares pursuant to exercise of option against each such Warrant. ....

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