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| Exchange Disseminated Time 11/07/2016 17:05:31 | Bedmutha Industries Ltd has informed BSE that the "Preferential Allotment Committee at its meeting held on July 11, 2016, has allotted 20,00,000 (Twenty Lakh) Equity Shares at a price of Rs.15.50 per equity share to its proposed allottee i.e. Bedmutha Sons Reality Ventures Private Limited (Part of promoter group) on the receipt of Rs. 2,32,50,000/- (Rupees Two Crore Thirty Two Lakh Fifty Thousand only) which is equal to 75% of the consideration to be paid at the time of exercise of such entitlement out of the total preferential allotment money of Rs. 3,10,00,000 (Rupees Three Crore Ten Lakh Only).
Further, the allotment of above Equity Shares shall rank pari-passu with the existing Equity Shares of the Company and shall be entitled to dividend and corporate benefits, if any declared by the Company after the allotment.
The meeting of Preferential Allotment Committee commenced at 4:00 PM and concluded at 04:55 PM. |
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