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Last Updated : Jan 13, 2020 02:08 PM IST | Source: Moneycontrol.com

Ashapura Minechem to issue warrants to promoter; share price up 5%

The said warrants would be converted into or exchanged with equity shares at a later date within a period of 18 months from the date of allotment of warrants.

 
 
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Ashapura Minechem share price added 5 percent intraday on January 13 after the company approved issuing warrants to a promoter group entity.

The company board at its meeting held on January 10 considered and approved the proposal to issue upto 45,00,000 warrants to Ashapura Industrial Finance Limited on preferential basis.

It is subject to the approval of the members by way of postal ballot and relevant regulatory authorities

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The said warrants would be converted into or exchanged with equity shares at a later date within a period of 18 months from the date of allotment of warrants.

At 13:45 hrs, Ashapura Minechem was quoting at Rs 32.10, up Rs 1.30, or 4.22 percent on the BSE.

The share touched its 52-week high of Rs 38.35 and its 52-week low of Rs 16.35 on 10 October 2019 and 26 June 2019, respectively.

Currently, it is trading 16.3 percent below its 52-week high and 96.33 percent above its 52-week low.

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First Published on Jan 13, 2020 02:08 pm
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