Business EconomyPosted at: Jan 28 2021 6:32PM
SVP Global to raise Rs 235 Cr via Equity Warrants, convertible at 37 per cent premium to market price
MUMBAI, India, Jan 28, 2021 /PRNewswire/ Pursuant to applicable provisions and regulations, SVP Global Ventures Ltd, one of the largest compact cotton yarn manufacturers in the world has announced it s intention to issue upto 2,23,80,952 Convertible Equity Warrants to it s parent company, Shri Vallabh Pittie Ventures Private Pvt. Ltd.
The aggregate value of the transaction will stand at ¬Rs. 235 Crs. for cash and the allotment of warrants will be completed within 15-day period from the date of shareholders approval.
The Warrant holder has the option to convert Equity warrants into equivalent number of fully paid up equity shares of face value of Rs.1/- each, in one or more tranches within 18 months from the date of allotment of warrant, at an issue price of Rs 105/- per Equity Share and is subject to interim adju