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02 May 2016 11:18 AM, Tidings Pooja Menon

Rajshree Sugars & Chemicals announces conversion

It belongs to the manufacturing sector

The Board of Directors of the company ‘Rajshree Sugars & Chemicals Ltd.’, at their meeting held on 29 April 2016, have allotted a total of 31,95,000 equity shares to the promoters of the company.

The Board of Directors allotted 17,66,429 equity shares to Ms.Rajshree Pathy, Chairperson and Managing Director of the company. The remaining 14,28,571, equity shares were allotted to ‘M/s. RSCL Properties Private Limited’. The shares were issued at a price of Rs. 28 per share to each of the promoters. This price included a premium of Rs. 18 each share.

The aforesaid shares were allotted by converting the unsecured loan of Rs. 4,94,60,000 brought-in by Ms.Rajshree Pathy and Rs. 4,00,00,000/- brought-in by ‘M/s.RSCL Properties Private Limited’, as promoters’ contribution under the Corporate Debt Restructuring Scheme. Post conversion, the total outstanding paidup capital of ‘Rajshree Sugars & Chemicals Ltd.’ stood at Rs. 281.6 million with the total number of outstanding shares increasing to 2,81,66,700 shares of Rs. 10 each.

‘Rajshree Sugars & Chemicals Ltd.’ was incorporated in the year 1985. Industry group and the main product/service group of the company is ‘Sugar’ in Prowess. ‘Rajshree Sugars & Chemicals Ltd.’ is listed on the Bombay Stock Exchange (BSE) as well as the National Stock Exchange (NSE). The company belongs to the manufacturing sector.

Information about conversion of share warrants by companies can be obtained in Prowess using the ‘Changes in Equity Capital’ report in the report viewer. It provides a lot of additional information such as capital issue type, security type and capital issue date.