Board Meeting5 Sept 2024, 10:43 pm
Containe Technologies Ltd Approves Rs. 21 Crores Fund Raising Through Equity Share Warrants
AI Summary
Containe Technologies Ltd's Board of Directors has approved the raising of funds through the issuance of up to 24,50,000 equity share warrants. Each warrant is exercisable into or exchangeable for one fully paid-up equity share of the company at a price of Rs. 86. The funds, amounting to Rs. 21,07,00,000, will be raised through a preferential issue to identified persons. The decision is subject to approval from the members at the upcoming Annual General Meeting and other regulatory and statutory approvals.
Key Highlights
- Containe Technologies Ltd plans to raise Rs. 21,07,00,000 through equity share warrants.
- The company will issue up to 24,50,000 equity share warrants, each exercisable into one fully paid-up equity share.
- The warrants will be issued at a price of Rs. 86 each, payable in cash.
- The issuance will be made to identified persons in one or more tranches during the period commencing from the date of allotment until expiry of 18 months.
- The decision is subject to approval from the members at the Annual General Meeting and other regulatory and statutory approvals.