The surge in price comes after the company informed exchanges that its board of directors has approved the conversion of 2,00,001 warrants into an equal number of equity shares of the Company.
Stock Market News: Shares of One Point One Solutions jumped over 11 per cent on Monday i.e. January 1. The counter opened at Rs 50.40 and went on to hit an intraday high of Rs 56.50. This is a surge of 11.33 per cent from the previous close of 50.75.
The surge in price comes after the company informed exchanges that its board of directors has approved the conversion of 2,00,001 warrants into an equal number of equity shares of the Company.
“Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), we wish to inform you that members of the Board of Directors of the Company through resolution by circulation on December 30, 2023, considered and approved the conversion of 2,00,001 (Two Lakh One) convertible warrants into 2,00,001 (Two Lakh One) equity shares of face value of Rs.2/- each, on preferential basis, upon receipt of an amount aggregating to
Rs. 42,48,021.24/- (Rupees Forty-two Lakh Forty-eight Thousand Twenty-one and Twenty-four Paisa only) at the rate of Rs. 21.24 (Rupees Twenty-One and Paise Twenty-Four Only) per warrant (being 75% of the issue price per warrant) from the allottees pursuant to the exercise of their rights of conversion into equity shares in accordance with the provisions of SEBI (ICDR) Regulations, 2018 and list of allottees along with name of warrant holders whose warrants are pending for conversion is enclosed as Annexure-I,” the company said in an exchange filing.
Meanwhile, Equity benchmark indices Sensex and Nifty kicked off 2024 on a flat note, with the 30-share index closing with marginal gains following some buying in energy, services and telecom counters.
In a highly volatile trade, the BSE gauge eked out a modest gain of 31.68 points or 0.04 per cent to settle at 72,271.94 after a muted beginning. During the day, it hit a low of 72,031.23 and a high of 72,561.91, its lifetime intraday peak.
Disclaimer: The article is for informational purposes only and not investment advice.