THIS small cap company issue 1.37 crore equity shares, releases important information: Check Details Here

Last Friday, the company announced that its fundraising committee had approved the allotment of 13,750,000 equity shares.

Fineotex Chemical Ltd, a small cap company in the chemical sector, has given important information in its latest exchange filing after the market closed last Friday, after which the company’s stock is in focus. The stock was trading at Rs 24.34, down 1.22% or Rs 0.30 on the BSE till 11 am, while on the NSE the stock was trading at Rs 24.36, down 1.06% or Rs 0.26.

Last Friday, the company announced that its fundraising committee had approved the allotment of 13,750,000 equity shares. Each share has a face value of ₹1 and an issue price of ₹34.60 (including a premium of ₹33.60). These shares have been issued after conversion of a total of 13,75,000 warrants, which were earlier issued at a price of Rs 346 per warrant.

These shares have been allotted to:

Sanjay Tibrewala – 50,000,000 shares (Promoter Group)

Coeus Global Opportunities Fund – 52,00,000 shares (Non-Promoter Group)

NVS Corporate Consultancy Services Pvt. Ltd. – 25,00,000 shares (Non-Promoter Group)

Jesal Nalin Shah – 10,50,000 shares (Non-Promoter Group)

All these allottees have deposited the balance amount of Rs. 35,68,12,500 (Rs. 259.50 per warrant, which is 75% of the issue price) to convert their warrants into shares.

In a recent filing, the company announced a stock split in the ratio of 1:2. This means that the company will split one equity share with a face value of ₹2 into two equity shares with a face value of ₹1.

The record date for the stock split was October 31, which has now been completed.

Just a few days ago, the company announced in its filing that it would issue bonus shares in a ratio of 4:1. This means that for every existing equity share of Re 1, the company will offer four equity shares of Re 1 face value each as a free bonus.

Now after the allotment of bonus shares today, the company in its latest exchange filing today informed that the Board of Directors of the company through a circulation resolution decided that the company has issued 91,66,00,720 bonus equity shares.

It is an Indian company that manufactures specialty chemicals for the chemical and paint, textile, and coating industries. The company’s products include finishing agents, coating additives, and textile chemicals, which are used in the fashion, paint, and industrial sectors.