ELECTROTHERM (INDIA) LTD. - Allotment of Equity Shares on conversion of Partially Convertible Partially Redeemable Preference Shares
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| 21 Feb 2017 | |
| Electrotherm (India) Ltd has informed BSE that as per the terms of issue of 2,85,90,000 Partially Convertible Partially Redeemable Preference Shares ("PCPRPS") of Rs. 10/- each allotted to Edelweiss Asset Reconstruction Company Limited ("EARC") on August 22, 2015, being an Financial institution within the meaning of sub clauses (ia) and (ii) of clause (h) of section 2 of the Recovery of Debts due to Banks and Financial Institutions Act, 1993, the Securities Allotment Committee of the Company at its meeting held on February 21, 2017 allotted fully paid-up 12,66,440 Equity Shares of face value Rs. 10/- each to EARC at a conversion price of Rs. 225.75 representing 9.94% of the post allotment paid-up equity capital of the Company.<BR><BR>Further the balance / fraction amount, if any, remaining outstanding after the said conversion of PCPRPS will continue to be part of loan by EARC. | |
| View all announcements for ELECTROTHERM (INDIA) LTD. | Source: BSE India |
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