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Shriram City Union Finance Ltd Announces Issue OF Equity


Thursday, 28 Mar 2013 08:41am EDT 

Shriram City Union Finance Ltd announced that the Equity Allotment Committee of the Company at their meeting held on March 28, 2013 have allotted 2,850,000 equity shares of INR10 each pursuant to the exercise of option of conversion of warrants into equity shares by Shriram Capital Limited The Company had received an amount of INR143 per warrant for 5,900,000 warrants as a part of the subscription amount conferring an option to the holder to subscribe to one Equity Share per Warrant at an exercise price of INR570 per Warrant, being a price higher than the price determined as per Regulation 76(1) of Chapter VII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 on March 27, 2012. Equity shares are allotted upon exercise of their option to convert 2,850,000 warrants into 2,850,000 equity shares of INR10 each and with the receipt of the balance amount of INR427 per warrant payable by Shriram Capital Limited aggregating to INR1,216,950,000. Thus each of these 2,850,000 warrants have been converted into 2,850,000 equity shares of INR10 each duly paid up at a premium of INR560 per share. 

Company Quote

1214.2
15.75 +1.31%
17 Apr 2014