In a significant move, the Finance and Investment Committee of the Board of Directors of Anant Raj Limited has approved the allotment of 13,69,863 equity shares following the conversion of fully convertible warrants (FCWs). The FCWs, each convertible into one equity share of the face value of Rs 2 at an issue price of Rs 730 per share, was initially allotted to Ashok Sarin Anant Raj LLP on a preferential basis. The total value of the allotment amounts to Rs 99,99,99,990.
As per the latest development, Ashok Sarin Anant Raj LLP has paid the remaining 75 per cent of the consideration amounting to
Rs 74,99,99,992.50. With this payment, the Committee approved the allotment of 13,69,863 equity shares of face value of Rs 2 each.
Following this allotment, the company's paid-up share capital has increased to Rs 68,65,21,232, consisting of 34,32,60,616 equity shares of Rs 2 each. The newly allotted equity shares will rank pari passu with the existing equity shares of the company, meaning they will carry the same rights and privileges as the previously issued shares.
This step represents the company's continued efforts to enhance its capital base and is expected to support future growth and expansion plans.
