Panafic Industrials Acquires 19.78% Stake in Bazel International Ltd Through Preferential Allotment

Panafic Industrials Limited, a non-promoter/promoter group, has acquired equity shares of Bazel International Ltd, the target company, through preferential allotment. This acquisition was made in pursuant to the conversion of loan into equity. The total number of shares acquired is 7,62,392, which amounts to 19.78% of the total share and voting capital of Bazel International Ltd. This acquisition has increased Bazel International Ltd's equity share capital from Rs 2,78,60,330/- to Rs 3,85,52,220/-. The total diluted share and voting capital of the company has also increased from 38,55,222* Equity Shares to the same amount.