Post this, 57,45,000 warrants remain pending for conversion, and these warrant holders are entitled to get their warrants converted into an equal number of equity shares of the company within 18 months from the date of warrant allotment.
Mumbai: Shares of One Point One Solutions are in focus today as the company has informed exchanges that its board of directors has approved the conversion of 3,79,944 warrants into equity shares with a face value of Rs 2 each.
The board approved the conversion on a preferential basis upon receiving Rs 80,70,010.56, which constitutes 75 per cent of the issue price of Rs 21.24 per warrant, from the recipients. As a result of the allotment, the company’s paid-up capital rose from Rs 52,49,94,310 to Rs 52,57,54,198.
The company had issued 3.44 crore warrants in October 2023. The face value of each warrant was Rs 2, and investors had already deposited 25 per cent i.e. Rs 7, for these warrants. To convert these warrants into shares, investors paid the remaining 75 per cent amount, i.e. Rs 21.24 per warrant.
Post this, 57,45,000 warrants remain pending for conversion, and these warrant holders are entitled to get their warrants converted into an equal number of equity shares of the company within 18 months from the date of warrant allotment.
Equity benchmark indices Sensex and Nifty rebounded in early trade on Monday amid sustained foreign fund inflows and a sharp rally in blue-chip stock Reliance Industries.
A firm trend in global markets also propelled a rally in the domestic equities.
The 30-share BSE benchmark gauge jumped 456.05 points to 79,668.58 in early trade. The NSE Nifty rallied 112.85 points to 24,152.20.
From the Sensex firms, Reliance Industries climbed 3 per cent after the firm reported a 2.4 per cent rise in March quarter net profit as store rationalisation in retail business and improved margins in telecom helped offset weakness in the mainstay oil and petrochemicals business and higher finance cost.
Mahindra & Mahindra, ICICI Bank, Tata Steel, State Bank of India, Kotak Mahindra Bank, IndusInd Bank, Larsen & Toubro and NTPC were also among the gainers.
HCL Tech, Tech Mahindra, Tata Consultancy Service, Bajaj Finance and Nestle were among the laggards.
