Markets

NCC allots preferential shares

V Rishi Kumar Hyderabad | Updated on January 27, 2020

NCC has announced that it has allotted 92,00,000 equity shares of ₹2 each at a premium of ₹117.37 on conversion of the warrants issued on preferential basis to AVSR Holdings Pvt Ltd (AVSR) — one of the promoters of the company.

NCC had issued in August 2018, 92,00,000 convertible warrants of ₹119.37 each (each warrant convertible into one equity share of ₹2 each at a premium of ₹ll7.37) on preferential basis to AVSR.

The said AVSR had remitted the application money of ₹27,45,51,000 (being 25 per cent of the issue price) at the time of allotment of warrants. In terms of the issue of the convertible warrants, the company has received the balance amount of ₹82,36,53,000, being 75 per cent of the issue price from AVSR.

Post the aforesaid allotment, the paid-up capital of the company has increased to ₹12l.97 crore.

Published on January 27, 2020

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