Valiant Organics

Valiant Organics Ltd settled with capital markets regulator Sebi a case concerning flouting of alleged disclosure rules by paying Rs 10 lakh as the settlement amount. This came after the company filed a settlement application with Sebi proposing to settle the enforcement proceedings that may be initiated against it for the alleged lapse of non-compliance of Listing Obligations and Disclosure Requirements (LODR) Regulations by "neither admitting nor denying" any finding. "It is hereby ordered that the proceedings that may be initiated for the violations... are settled qua the applicant (Valiant Organics)," Sebi said in a settlement order passed on Monday. In its order, Sebi noted that Amarjyot Chemical Ltd (ACL) merged with Valiant Organics by absorption, which was sanctioned by the Mumbai Bench of the National Company Law Tribunal in March 2019. Following this, Valiant Organics allotted 72 fully paid equity shares of Rs 10 each and 21 Optionally Convertible Preference Shares (OCPS)

The stock will turn ex-date for 1:1 bonus issue on Thursday, December 24, 2020.

The board also approved payment of interim dividend for the financial year 2020-21 of Rs 5 per share

The company said it will consider bonus issue and interim dividend during its board meeting on November 13

The stock was up 20% at Rs 317, appreciating 44% against its initial public offer price of Rs 220 per share.