On conversion of warrantsThe Board of Directors of Patel Integrated Logistics at its meeting held on 12 July 2017 inter alia approved allotment of 6,49,311 Equity Shares of face value of Rs.10/- each on conversion of same no. of Convertible Equity Warrants fully paid up at an issue price for Rs. 115/- (including premium of Rs.105/-) per Equity Warrant by the Company on preferential basis to Strategic Investor, Frontline Strategy, a company registered in Mauritius, not forming part of the Promoter Group of the Company in terms of SEBI (ICDR) Regulations, 2009 and as per special resolution passed by the members at their Extra Ordinary General Meeting held on 28 December 2015.
Consequent to such allotment, the Paid-up Equity Share Capital of the Company has increased from Rs.15,88,66,120/- consisting of 1,58,86,612 equity shares of Rs.10/- each to Rs. 16,53,59,230/- consisting of 1,65,35,923 equity shares of Rs.10/- each.
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