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Prakash Industries Ltd. Capital/Financing Update 2020
61790_rns_2020-10-23_de2e7de7-7993-4899-abd3-2c68f9ff511f.pdf
Capital/Financing Update
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Prakash Industries Limited
Srivan, Bijwasan, New Delhi -110061 CIN: L27109HR1980PLC010724 Tel. : 25305800, 28062115 Fax : 91-11-28062119 E-mail : [email protected] Website : www.prakash.com 23rd October, 2020
PIUSE/SM/2020
Listing Department National Stock Exchange of India Ltd. Exchange Plaza, 5th Floor, Plot No. C/1 G Slock,Sandra-Kurla Complex, Sandra (E) Dalal Street, Mumbai - 400051 ~ Mumbai • 400001
Listing Department SSE Ltd. Phiroze Jeejeebhoy Towers
Company Symbol : PRAKASH Company Code : 506022
SUB: OUTCOME OF BOARD MEETING
Time of Commencement: 11.30 AM. Time of Conclusion: 12.05 P.M.
Dear Sir I Madam,
We wish to inform you that the Board of Directors of the Company at its meeting held today has considered and approved the following:
- Issuance of 75,00,000 Convertible Equity Warrants on Preferential basis, thereby raising an amount aggregating to~ 33,07,50,000/- (Rupees Thirty Three Crores Seven Lakhs Fifty Thousand Only) subject to the approval of the Shareholders. The proceeds from preferential issue will be utilized for repayment of short term loans, to augment the working capital requirements of the Company and other corporate purposes. The details of the issue are as follows:
(i) Promoter Group
Issue of 75,00,000 Convertible Equity Warrants at a price of ~ 44.10/- each, convertible into equity shares of~ 10/- each, aggregating to ~ 33,07,50,000/- (Rupees Thirty Three Crores Seven Lakhs Fifty Thousand Only) to Promoter(s) as per detail mentioned below:
| s. No. |
Name | No. of Convertible Equity warrants |
Amount@ ~44.10 per warrant (in~ |
|---|---|---|---|
| 1. | Shri Ved Prakash Agarwal, Promoter of Prakash Industries Ltd. (PIL) |
75,00,000 | 33,07,50,000 |
| Total | 75,00,000 | 33,07,50,000 |
2. Notice of Convening Extraordinary General Meeting of the Company to be held on Saturday, 21•1November, 2020 at 12.30 P.M. at its Registered Office.
This is for your information please.
Thanking you,
Yours faithfully, For Prakash Industries Limited
Ashwini Kumar r / ~<:.-' Company Secretary : ~\Ni•"'~ u 111 ~i': " . \ "t
