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Pervasive Commodities Limited — Capital/Financing Update 2024
Jul 6, 2024
63537_rns_2024-07-06_16cb1d03-2e17-46db-bb14-3acf06c57534.pdf
Capital/Financing Update
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PERVASIVE COMMODITIES LIMITED (Previously known as Starvox Electronics Limited) (CIN L51909GJ1986PLC008539)
REGD. OFFICE: Phone: +91 8347056404 C-806, Titanium City Canter,
Near Sachin Tower, 100 Ft Road, Website: www.pervasiveindia.com Satellite, Ahmedabad, Gujarat – 380015. Email : [email protected]
Date: 06/07/2024
To, The BSE Limited, P J Towers, Dalal Street, Mumbai-400 001 Scrip Code: 531205
Subject: Outcome of Board Mee�ng cum In�ma�on regarding Allotment of Conver�ble warrants:
Dear Sir/Madam,
Pursuant to the Regula�on 30 of SEBI (LODR) Regula�on, 2015, we hereby submi�ng the Outcome of Board Mee�ng of the Company held as on 06[th] July, 2024. The Following Business were transacted during the Mee�ng:
- Allotment of 9,00,00,000 Conver�ble warrants to the allotees. The Detailed regarding the said Allotment is Men�oned in Annexure I .
The mee�ng started at 03:30 PM and concluded at 4:45 PM.
Kindly take the same on your record.
Thanking You
For, Pervasive Commodi�es Limited
Digitally signed FAGUN by FAGUN CHANDRAKANT SONI CHANDRAKANT SONI Date: ………………………………….. 7/6/2024 4:53 PM +05:30
Fagun C. Soni Managing Director DIN: 10610730
PERVASIVE COMMODITIES LIMITED (Previously known as Starvox Electronics Limited) (CIN L51909GJ1986PLC008539)
REGD. OFFICE: Phone: +91 8347056404 C-806, Titanium City Canter, Near Sachin Tower, 100 Ft Road, Website: www.pervasiveindia.com Satellite, Ahmedabad, Gujarat – 380015. Email : [email protected]
ANNEXURE - I
The Board has issue and allot the 9,00,00,000 Conver�ble warrants having a face value of Rs. 10/each at the Price of Rs. 10/- per warrant, pursuant to the approval of the Board of Directors at its mee�ng held on 24[th] May, 2024 and upon the approval of members of the Company in the Extra Ordinary General Mee�ng (EGM) held on 22[nd] June, 2024 and pursuant to In-principle approval granted by BSE Limited vide le�er bearing no. LOD/PREF/TT/FIP/434/2024-25 dated 18[th] June, 2024 and upon receipt of an amount aggrega�ng to Rs. 22,50,00,000/- (Rupees Twenty Two Crores Fi�y Lacs only) at the rate of Rs. 2.50/- per warrant (being 25% of the issue price per warrant) as warrant subscrip�on price in respect of 9,00,00,000 Conver�ble Warrants, the Board of Directors of the Company, has considered and approved the Allotment of 9,00,00,000 (Nine Crore) warrants on preferen�al basis at an issue price [including the warrant subscrip�on price (Rs. 2.50 per warrant) and the warrant exercise price (Rs. 7.50 per warrant i.e. being 75% of the issue price per warrant)] of Rs. 10/- each aggrega�ng to Rs. 90,00,00,000/- (Rupees Ninety Crores only), to certain iden�fied non promoter persons (‘Allo�ees’) (as per the list enclosed marked as Annexure A).
Each of the Warrant, so allo�ed, is conver�ble into or exchangeable for one fully paid up equity share of face value of Rs. 10/- (Rupees Ten only) each of the Company in accordance with the provisions of Securi�es and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regula�ons, 2018, as amended, on payment of the balance considera�on of Rs. 7.50/- per warrant (being 75% of the issue price per warrant) from the Allo�ees at the �me of allotment of equity shares pursuant to exercise of conversion op�on against each such warrant.
As the Company has allo�ed warrants, there is currently no change in the paid-up share capital of the Company.
The details required to be disclosed pursuant to circular dated September 09, 2015 bearing reference no. CIR/CFD/CMD/4/2015 issued by Securi�es and Exchange Board of India is disclosed in “Annexure – B” in rela�on to issue / allotment of Warrants.
PERVASIVE COMMODITIES LIMITED (Previously known as Starvox Electronics Limited) (CIN L51909GJ1986PLC008539)
REGD. OFFICE: Phone: +91 8347056404 C-806, Titanium City Canter,
Near Sachin Tower, 100 Ft Road, Website: www.pervasiveindia.com Satellite, Ahmedabad, Gujarat – 380015. Email : [email protected]
Annexure A
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Sr. Name of Allo�ees Category No. of Warrants
No. (Promoter/ allo�ed
Non-Promoter)
1. Mandar Exim Private Limited Non-Promoter 10000000
2. Jekon Exports Private Limited Non-Promoter 10000000
3. Jevik Agri Organic Private Limited Non-Promoter 10000000
4. Pas�me Solu�ons Private Non-Promoter 10000000
Limited
5. Patrio�c Tradelink Private Non-Promoter 10000000
Limited
6. Technoclare Infoways Private Non-Promoter 10000000
Limited
7. Nazai Technologies Private Non-Promoter 10000000
Limited
8. Illimite Touch Private Limited Non-Promoter 10000000
9. Quickwell Pharmicus Private Non-Promoter 10000000
Limited
TOTAL 90000000
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Annexure-B
The details as required to be disclosed under Regulation 30 of the LODR Regulations read with SEBI Circular dated September 09, 2015:
| Sr. No. |
Particulars | Details | |
|---|---|---|---|
| 1. | Type of securities~~proposed to~~ ~~be~~issued (viz. equity shares, convertibles, etc.) |
Convertible Warrants | |
| 2. | Type of issuance (further public offering, rights issue, depository receipts (ADR/GDR), qualified institutions placements, preferential allotment etc.) |
Preferential allotment |
PERVASIVE COMMODITIES LIMITED (Previously known as Starvox Electronics Limited) (CIN L51909GJ1986PLC008539)
REGD. OFFICE: Phone: +91 8347056404 C-806, Titanium City Canter,
Near Sachin Tower, 100 Ft Road, Website: www.pervasiveindia.com Satellite, Ahmedabad, Gujarat – 380015. Email : [email protected]
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3. Total number of securities 9,00,00,000 (Nine Crore) Warrants at a Warrant
proposed to be issued or the Subscription Price of Rs. 2.50/- (Indian Rupees Two
total amount for which the and Fifty paise only) per Warrant (i.e. at least 25% of
securities will be issued the Warrant Issue Price at Rs. 10.00/- (Rupees Ten
(approximately) only) per Warrant, aggregating to ₹ 22,50,00,000/-
(Rupees Twenty Two Crores Fifty Lacs only).
4. In case of preferential issue, the listed entity shall disclose the following additional
details to the stock exchange(s):
a) Name of the investors As mentioned in Annexure – A
b) Post allotment of securities- Please see Schedule – A
outcome of the subscription
c) Issue price Rs. 10/- (Rupees Ten only) for each Warrant
(Total Price including the Warrant Subscription Price
and the Warrant Exercise Price).
d) Number of investors 9 (Nine)
e) In case of convertible- Each Warrant will be convertible into, or
intimation on conversion of exchangeable for, 1 (one) fully paid-up equity share
securities or on lapse of the of the Company of face value of Rs. 10/- each
tenure of the instrument payable in cash, aggregating upto Rs. 90.00 crore
which may be exercised in one or more tranches
during the period commencing from the date of
allotment of the Warrants until expiry of 18
(Eighteen) months.
5. Any cancellation or In the event that, a Warrant Holder does not
termination of proposal for exercise the Warrants within a period of 18
issuance of securities including (Eighteen) months from the date of allotment of
reasons thereof. such Warrants, the unexercised Warrants shall lapse
and the amount paid by the Warrant Holders on
such Warrants shall stand forfeited by Company.
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PERVASIVE COMMODITIES LIMITED (Previously known as Starvox Electronics Limited) (CIN L51909GJ1986PLC008539)
REGD. OFFICE: Phone: +91 8347056404 C-806, Titanium City Canter,
Near Sachin Tower, 100 Ft Road, Website: www.pervasiveindia.com Satellite, Ahmedabad, Gujarat – 380015. Email : [email protected]
Schedule A
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Sr. Name of the Pre-issue equity Number of Post-issue equity
No. Allo�ee holding Warrants holding (A�er exercise
allo�ed / conversion of
Warrants) #
No. of % No. of %
equity equity
shares shares
Non Promoter
1. Mandar Exim 0 0.00 % 10000000 10000000 11.10 %
Private Limited
2. Jekon Exports 0 0.00 % 10000000 10000000 11.10 %
Private Limited
3. Jevik Agri Organic 0 0.00 % 10000000 10000000 11.10 %
Private Limited
4. Pas�me Solu�ons 0 0.00 % 10000000 10000000 11.10 %
Private Limited
5. Patrio�c Tradelink 0 0.00 % 10000000 10000000 11.10 %
Private Limited
6. Technoclare 0 0.00 % 10000000 10000000 11.10 %
Infoways Private
Limited
7. Nazai Technologies 0 0.00 % 10000000 10000000 11.10 %
Private Limited
8. Illimite Touch 0 0.00 % 10000000 10000000 11.10 %
Private Limited
9. Quickwell 0 0.00 % 10000000 10000000 11.10 %
Pharmicus Private
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