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Vaswani Industries Limited Allots 16 Lakh Shares on Preferential Basis

Strategic Insights

— 1 min read

Vaswani Industries Limited has informed the exchange that its Board of Directors has approved the allotment of 16 lakh equity shares of face value Rs. 10 each on a preferential basis at Rs. 50 per share. The issue price is not less than the minimum price determined in accordance with the SEBI ICDR Regulations. The allotment has been made against receipt of full application monies aggregating to Rs. 8 crore from the promoters, including Ravi Vaswani, Yashwant Ravi Vaswani, Kushal Vaswani, and Manisha Vaswani.

Key Takeaways:

  • The Board of Directors of Vaswani Industries Limited approved the allotment of 16 lakh equity shares of face value Rs. 10 each on a preferential basis at Rs. 50 per share.
  • The issue price is not less than the minimum price determined in accordance with Chapter V of the SEBI ICDR Regulations.
  • The allotment has been made against receipt of full application monies aggregating to Rs. 8 crore from the promoters, including Ravi Vaswani, Yashwant Ravi Vaswani, Kushal Vaswani, and Manisha Vaswani.
  • The new equity shares so allotted shall rank pari passu with the existing equity shares of the Company.
  • Post allotment of the aforesaid shares, the paid-up capital of the Company has increased from Rs. 31,34,61,530 to Rs. 32,94,61,530.
  • The Company has received the issue price per equity shares i.e. Rs. 50 as total consideration to Rs. 8 crore for allotment of 16 lakh equity shares as per the terms of the issue.

Statistics:

  • Total number of equity shares allotted to promoters: 16,00,000
  • Issue price per share: Rs. 50
  • Total consideration received for allotment: Rs. 8,00,00,000
  • Paid-up capital of the Company before allotment: Rs. 31,34,61,530
  • Paid-up capital of the Company after allotment: Rs. 32,94,61,530
  • Number of existing equity shares: 3,13,46,153
  • Number of new equity shares allotted: 16,00,000

Sources:

  • "SEBI Listing Regulations" (Referenced in the corporate announcement)
  • "SEBI ICDR Regulations" (Referenced in the corporate announcement)
  • https://www.nseindia.com/ (The complete document can be viewed at this link)

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