By: ICN Bureau
Last updated : August 16, 2021 7:49 am
The board also approved raising of funds upto Rs. 150 crores by way of issue of new equity shares
The Board of Directors of Deep Polymers Limited have considered and approved the takeover of Deep Plast Industries at a value of around Rs. 45 crores to 55 crores as per the Valuation to be done by the Certified Valuer. The said amount will be appropriated as below:
- Issue of fully paid up 2,00,000 equity shares @ Rs. 129 totalling to 2,58,00,000/- (including Rs. 119/- as premium) to partners of Deep Plast Industries Mr. Ramesh Patel: 1,00,000 and Mrs Ashaben Patel: 1,00,000.
The Board also considered and approved raising of funds by way of issue of Equity warrants convertible in equity shares having paid up value of Rs.10/- each, as per SEBI (ICDR) Regulations at a issue price of Rs. 129/- each (including Rs. 119/- as premium).
The board also approved raising of funds upto Rs. 150 crores by way of issue of new Equity Shares by way of Preferential allotment to Promoters as well as non-promoters and QIP to Institutional Investors, in one or more tranches.