Board of Tilaknagar Industries allots 1.46 cr equity shares on preferential basis

Also allots 1.18 cr convertible warrants

The Board of Tilaknagar Industries on 19 December 2021 has approved the following:

1. Allotment of 1,18,86,792 Equity Shares having face value of Rs. 10/- each for cash at a price of Rs. 53/- (including a premium of Rs. 43/- per share) upon receipt of an amount of Rs. 62,99,99,976 to Barclays Wealth Trustees (India) acting as a Trustee of Lotus Family Trust, Non-Promoter.

2. Allotment of 1,18,86,792 Convertible Warrants at a price of Rs. 53/- per Warrant with a right to the Warrant holders to apply for and be allotted 1 Equity Share of the face value of Rs. 10 each of the Company at a premium of Rs. 43/- per share for each Warrant within a period of 18 months from the date of allotment of the Warrants, for an amount of Rs. 62,99,99,976 (consideration) to, the below mentioned promoter group of the Company for cash upon receipt of 25% of the consideration amount.

3. Allotment of 27,79,297 Equity Shares having face value of Rs. 10 each, to Edelweiss Asset Reconstruction Company (EARC) acting as Trustee of EARC Trust SC233, EARC Trust SC241 and EARC Trust SC269 (Non-Promoter), at price of Rs. 53/- per share (including a premium of Rs. 43/- per share), fully paid-up towards conversion of Balance Debt of value Rs. 14,73,02,741 from outstanding Balance Debt owed to it by the Company into Equity Shares of the Company on preferential basis.

Consequent upon the above allotment of equity shares, the paid-up equity share capital of the Company stands increased to 15,50,13,865 equity shares of Rs 10 each.

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