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Board of Va Tech Wabag approves preferential issue of shares aggregating Rs 120 cr

Capital Market 

At meeting held on 29 September 2020

The Board of Va Tech Wabag at its meeting held on 29 September 2020 has approved the issue and allotment of 75,00,000 equity shares of face value of Rs. 2/- each, for cash, at a price of Rs. 160/- per equity share (including a premium of Rs. 158/- per equity share) aggregating to Rs. 120 crore by way of preferential issue to the following investors:

1. Rekha Rakesh Jhunjhunwala - 50,00,000
2. M/s. Basera Home Finance - 15,00,000
3. Sushma Anand Jain and Anand Jaikumar Jain (Joint Holding) - 10,00,000
TOTAL - 75,00,000

Consequently, the issued, subscribed and paid-up equity share capital of the Company stands increased to Rs. 12,43,80,856 (divided into 6,21,90,428 equity shares of Rs. 2/- each) from Rs. 10,93,80,856 (divided into 5,46,90,428 equity shares of Rs. 2/- each). Equity Shares allotted on preferential basis shall rank pari passu with the existing equity shares of the Company in all respects.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, September 30 2020. 09:19 IST